Left for Dead, Plug Power Stages Epic 20% Comeback After Government Cash Windfall

If you thought Plug Power was down for the count after its disastrous 2024 (-53%, oof), think again. The hydrogen underdog just staged a comeback worthy of its own Rocky montage, with shares surging nearly 20% on Monday. The catalyst? New tax credit rules from the U.S. Department of the Treasury that has retail investors yelling “to the moon!” louder than a friggin’ GameStop earnings call in 2021.

(Source: Giphy) 

In short, the Treasury dropped its final rules for clean hydrogen production tax credits under the Inflation Reduction Act (IRA), and let’s just say it’s a game-changer. The updated guidelines expand eligibility to producers using nuclear power, natural gas, and even coal mine methane (talk about a plot twist). The goal, in case you’re wondering, is to make clean hydrogen cheaper to produce, which is great news for an industry that’s historically been about as cost-effective as using Bitcoin for your daily coffee runs. 

(Source: Investopedia) 

Meaning, Plug Power, which has been scrambling to scale its hydrogen production and actually, you know, deliver on its contracts, stands to gain big here. The tax credits are expected to ease the financial pressure that’s been crushing the sector, giving companies like Plug some much-needed breathing room—and maybe even a shot at profitability. 

Deputy Energy Secretary David Turk practically handed out the shots, calling the new rules a way to “accelerate deployment of clean hydrogen” and unlock “new economic opportunities.” Translation: the government is throwing cash at hydrogen like it’s Oprah handing out cars.

(Source: Giphy) 

What’s more is that over on Stocktwits, retail investors are treating Plug Power like it’s the only hydrogen stock that matters. A whopping 55% of polled users picked Plug as the hydrogen play with the most upside in 2025, leaving its competitors—Bloom Energy, Nikola, and FuelCell Energy—eating dust. Bloom Energy barely got a pity vote with 8%, probably because its name doesn’t sound like an invention Elon Musk would tweet about at 3 a.m.

But, but, but… here’s the thing, the Stocktwits crowd isn’t just bullish—they’re irrationally exuberant. Plug’s recent struggles (hi, massive losses and missed supply commitments) seem to be a distant memory now that Uncle Sam has clarified the rules of the tax credit game. Which means if retail sentiment is any indication, Plug Power is positioned to become the Tesla of hydrogen—minus the memes (for now). 

(Source: Stocktwits) 

However, with that said, while the tax credit changes are undoubtedly a win for Plug Power, the company still has to prove it can execute on its promises. Retail investors might have crowned Plug the king of hydrogen, but Wall Street analysts are likely waiting for, you know, actual earnings before declaring victory.

In the meantime, Plug Power might finally have the wind at its back, thanks to favorable tax credit rules and a loyal retail fanbase. But whether this is the start of a long-term growth story or just another chapter in the hydrogen hype cycle is still up for debate… especially since at the end of the day, tax credits don’t pay the bills forever.

Now obviously do what you will with this information, and place your bets accordingly. As always, stay safe and stay frosty, friends! Until next time… 

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Stocks.News holds positions in Tesla as mentioned in the article.