Renewable energy stocks rose on Tuesday after… Power delivery (NASDAQ: Delivery) Announce receipt Guaranteeing a loan worth $1.66 billion From the US Department of Energy. Plug currently has two hydrogen fuel production facilities at full capacity, with a third facility approaching that mark. Plug says the government aid will help it “finance the development, construction and ownership of up to six green hydrogen production facilities” — though it's not 100% clear whether the company has included its first three facilities in that number.
Either way, the Plug news inspired investors to buy similar stocks Green energy stocks Which may be able to attract some federal aid of their own. As of 1 p.m. ET, shares rose Fuel cell energy (Nasdaq: FCEL) Shares rose a staggering 32.4%, and Bloom Energy (NYSE: BP) It rose by 7.9%. Clean energy fuel (Nasdaq: CLNE)which provides renewable natural gas and alternative-fueled heavy vehicle filling stations, by 10.5%.
Plug plans
Plug hailed the DOE award as “a major milestone in the U.S. commitment to advance the development of large-scale hydrogen production, processing, delivery and storage,” saying it “also underscores the application of green hydrogen to help achieve decarbonization goals.” across multiple sectors of the economy.”
This does not guarantee that other loans will subsidize its peers in the near future. But she points out that the Plug award is part of a larger policy that could benefit FuelCell, Bloom and Clean Energy Fuels.
Should you buy FuelCell, Bloom Energy, or Clean Energy Fuels?
However, it's worth noting — and repeating — that despite nearly three decades of investment in fuel cell technology, Plug Power has never made a profit selling hydrogen fuel or hydrogen fuel cells. According to historical data from Standard & Poor's Global Market IntelligenceBloom also hasn't made a profit, while FuelCell Energy hasn't made a profit since 1997. Clean Energy made a profit in 2017… but hasn't made any since.
Perhaps government-backed loans will help them change this story. Maybe they won't. But I won't buy until I know for sure.
Should you invest $1,000 in FuelCell Energy now?
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Rich Smith He has no position in any of the stocks mentioned. The Motley Fool recommends clean energy fuels. The Motley Fool has Disclosure policy.
Why FuelCell, Bloom, and Clean Energy Energy Are Soaring Today Originally published by The Motley Fool