Technology advancements have led to a drop in renewable energy costs, and have ushered in an era of green hydrogen production at a massive scale. With its incomparable energy density, hydrogen holds a substantial edge over battery electricity with respect to range, recharging, and emissions. Hence, emerging hydrogen stocks could prove to be incredibly lucrative investments in the future.

As the effects of climate change become more and more evident, there is an increasing push to find cleaner sources of energy. Hydrogen is a clean-burning fuel that can be used in various ways, from powering homes to fueling vehicles.

Moreover, according to The Bank Of America (NYSE:BAC), the hydrogen economy could potentially grow to be an $11 trillion market by 2050. The massive expected growth in this space is primarily driven by energy and transportation. Additionally, with governments and businesses around the world investing in hydrogen technology, the coming decade could see hydrogen becoming a major fighting force in the battle against climate change.

With that said, here are three hydrogen stocks investors should consider right now.

Plug Power (PLUG)

Plug Power (NASDAQ:PLUG) is a producer and distributor of hydrogen fuel cell solutions. The company is one of the leaders in the space, and its products have proven utility in various industries.

Given Plug Power’s incredible track record of growing its top-line via making large investments in its future, the firm is well-positioned to capitalize on the growing demand for hydrogen fuel cells. As the world increasingly turns to hydrogen as a clean energy source, Plug Power can play a major role in the transition.

Plug Power has been making massive strides in growing its business in the past year. In August, the company announced it partnered with Amazon (NASDAQ:AMZN) to supply 10,950 tons of liquid green hydrogen per year to fuel the tech giant’s operations. Moreover, it has partnered with another tech giant Microsoft (NASDAQ:MSFT) to provide backup power for its data centers. These deals are yet another feather in the company’s cap, opening up a spectacular new opportunity for the firm in stationery power, a whopping $40 billion market.

Bloom Energy (BE) 

Bloom Energy (NYSE:BE) is another clear winner in the renewable energy space. This company continues to execute and exceed expectations and is well-positioned to continue its momentum in the years to come.

Notably, Bloom has been remarkably resilient in a tricky supply chain environment as the company goes full-steam ahead with its expansion plans.

After its recent secondary offering, Bloom now has enough liquidity to fund future growth. The goal is to expand capacity to meet future growth expectations as it meets its target of doubling its 2021 capacity this year. Furthermore, Bloom has plans to foray into the European market after establishing a strong presence in South Korea and the U.S.

Its business has been incredibly consistent, growing its revenue by an incredible 36% average rate over the past five years. Once its supply chain troubles ease out, Bloom is likely to push into high gear and post even stronger results in the future.

Shell (SHEL)

Few oil companies have embraced the transition to renewable energy as wholeheartedly as Shell (NYSE:SHEL). To reduce its reliance on fossil fuel-generated revenues, Shell has been investing heavily in renewable energy sources. One of the key segments of focus for shell has been hydrogen technology.

Shell isn’t just talking about these investments, it’s been putting its money where its mouth is. Recently, Shell announced a new initiative to build Europe’s largest renewable hydrogen plant. The project could effectively produce 60,000 KG of renewable hydrogen per day. This is a significant step forward for Shell, and sets an important precedent for other large oil companies.

The process to effectively integrate hydrogen technology into its broader energy infrastructure will take plenty of time. In the interim, shareholders can benefit from Shell’s top-shelf core business. This strong core business provides a robust forward yield of more than 3.5%. Thus, an investment in Shell provides a unique, but long-term way, to play hydrogen stocks right now.

On the date of publication, Muslim Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.