PLUGs current problems stem from the fact that they did wait, or got delayed.
I'll bet PLUG wishes they had waited.
Had they built NY and Georgia (and Brookfield/Pennsylvania) to original timelines then they would be making c 100 TPD greenish hydrogen and making margin on the hydrogen business. they would have been able to ship to any customer knowing they had hydrogen for them unlike Q3/4 2023 when the idistry failed to have sufficient H2
unfortunately permitting and other things got in the way
45V was never part of the strategy and is considered icing on the cake especially as non of their sites are currently going to get $3/kg unless rules are relaxed