After a 296% Surge, Where Will Plug Power Stock Be in 1 Year?

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Ryan Vanzo, The Motley Fool

Wed, May 6, 2026 astatine 7:36 AM CDT 4 min read

It has been an unthinkable tally for Plug Power (NASDAQ: PLUG), a fashionable hydrogen stock. Over the past 12 months, shares person accrued successful worth by an astounding 296%.

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But tin Plug Power proceed its tally implicit the adjacent 12 months? The company's marketplace headdress remains astatine conscionable $4.4 billion, adjacent aft the latest banal terms surge. The imaginable for hydrogen substance to powerfulness cardinal sectors of the planetary system besides remains lucrative. In fact, Goldman Sachs antecedently estimated that hydrogen substance is simply a $12 trillion accidental implicit the adjacent 2 to 3 decades.

Before you leap in, however, there's 1 important origin to see that whitethorn measurement heavy connected Plug Power's banal terms implicit the adjacent 12 months.

Hydrogen substance is intelligibly a multi-trillion-dollar accidental

There's nary uncertainty that hydrogen substance tin assistance decarbonize galore pillars of the planetary system -- everything from aviation to steelmaking.

A Goldman Sachs study concludes: "Hydrogen has some flexibility and a precocious circumstantial vigor per portion wide -- 2 attributes that marque it uniquely susceptible astatine removing emissions from the harder-to-decarbonize parts of the planetary economy." It besides says: "The cleanable hydrogen manufacture is scaling up not conscionable successful the fig of projects planned, but besides successful the mean size of them. The probe squad estimates that the mean task volition summation much than 600 times from the existent dimensions."

There's conscionable 1 problem: Hydrogen substance systems simply can't vie connected outgo versus accepted systems moving connected fossil fuels, oregon adjacent different renewables similar upwind and solar. Indeed, overmuch of Goldman Sachs' rosy outlook for hydrogen is based connected dense authorities regulations astir the world, which would either subsidize hydrogen systems to little their upfront and ongoing operating costs, oregon summation the terms of competing substance sources done further taxes.

Hydrogen vessel  adjacent  to a truck.

Image source: Getty Images.

What would it instrumentality to unlock the adjacent signifier of hydrogen growth? Recent probe from the International Energy Agency concludes that "projects volition beryllium connected argumentation enactment to code cardinal barriers, peculiarly enactment for closing the outgo spread with hydrogen from unabated fossil fuels."

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