Equities related to the once-burgeoning hydrogen market are largely worth avoiding in 2024. The demand for renewable energy, especially one as expensive to produce and transport as hydrogen, has been rather for well over a year. While the Biden Administration’s Inflation Reduction Act (IRA) has catapulted investment into the space, tax credits and subsidies have not been as generous to hydrogen energy investments as they have been solar and wind. The Global X Hydrogen ETF (NASDAQ:HYDR) tracks 29
Investors were cheered by the company's signing of several new debt financing deals.
Billions of dollars are being spent to extract hydrogen energy from water at an industrial scale. Can this green dream come true?