The United States Congress has restored the 30 percent investment tax credit for fuel cell power generation and forklifts, extending it through 2022, with a reduction in the final two years. The credit would be 26 percent in 2021 and 22 percent in 2022. This brings the fuel cell incentive in line with incentives for other advanced and renewable energy technologies.
Just recently, the stock price of Tesla (NASDAQ: TSLA) had known no bounds: Prices went up more than 40 percent within a few weeks. But the hike was followed by a hefty decline from USD 286 to around USD 240. There had been no reassuring news and figures based on which you could make a logical argument for the price explosion. One of my theories focuses less on the influence of tweets and the content of statements made by Tesla’s CEO
Plug Power CEO Andy Marsh is looking to establish framework agreements with Chinese companies, as he believes the country to be a very promising market. China is said to have already invested more than USD 100 billion in fuel cell technology over the years, as it has recognized that there is large potential to tap (see Ballard). Talks with Chinese-based automotive suppliers are ongoing. In the US, Plug Power hopes that there will be other tax incentives for fuel cell vehicles. The investment tax credits have certainly been a factor in getting orders for forklift truck retrofits. Donald Trump, however, is said to be opposed to these types of incentives as much as in the wind and solar industry.
The persuasiveness of Tesla head Elon Musk resulted in more than 90 percent of Tesla and SolarCity shareholders following his recommendation and approving the takeover of the latter. Now, Tesla will expand its electric car portfolio by offering solar roofs. The impact of the merger on Tesla’s financials will show as early as the fourth quarter of 2016, when SolarCity’s results are added to the corporation’s balance sheet. The most important factor is the around USD 3 billion in debt.