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With Earth Day just around the proverbial corner, analysts at Evercore ISI initiated affirmative coverage on four clean energy stocks.
Plug Power Inc. (NASDAQ: PLUG): Analyst James West initiated coverage at Outperform with a price target of $42; its current price is $27.24.
Headquartered in Latham, New York, Plug Power is a supplier of hydrogen fuel cell solutions designed to replace conventional batteries in electric-powered equipment and vehicles.
West predicted a strong future for the company, writing that hydrogen will become “more commercially viable between now and 2030 while H2’s greater potential should unfold after 2030. This sanguine, long-term view should allow PLUG to achieve 3-4% share in a +$250B market in 2030.”
Solar panels on rooftops of a housing development in Folsom, Calif., are shown. | AP Photo
California s rooftop solar program collides with equity concerns
A pandemic-era backlash against California s yawning wealth gap is taking aim at incentives for rooftop solar panels.
Updated
SACRAMENTO A pandemic-era backlash against California s yawning wealth gap is taking aim at the state s pioneering climate policies. The latest target: incentives for rooftop solar panels.
The generous rewards paid to those who can afford to install them on their roofs amount to subsidies for the rich, utilities and other critics of the program argue.
It s the latest fault line in a clash over whether too many Californians are being left behind by the state s green push. For years, the state has wrestled with similar concerns about electric vehicle rebates flowing to wealthy Tesla drivers.