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Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2023
Schedule of components and classification of stock-based compensation expense | The components and classification of stock-based compensation expense, excluding the Company’s matching contributions to the Plug Power Inc. 401(k) Savings & Retirement Plan and quarterly Board compensation, were as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Year ended December 31,
​ | 2023 | ​ | 2022 | ​ | 2021
Cost of sales | $ | 11,079 | ​ | $ | 7,259 | ​ | $ | 1,965
Research and development | ​ | 9,532 | ​ | ​ | 6,369 | ​ | ​ | 5,983
Selling, general and administrative | ​ | 129,387 | ​ | ​ | 156,127 | ​ | ​ | 64,443
​ | $ | 149,998 | ​ | $ | 169,755 | ​ | $ | 72,391
Nonvested Restricted Stock Shares Activity | A summary of restricted common stock and restricted stock unit activity for the year ended December 31, 2023 is as follows (in thousands except share amounts): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | Weighted |  | Aggregate
​ | ​ | ​ | ​ | Average Grant Date | ​ | Intrinsic
​ | ​ | Shares | ​ | Fair Value | ​ | Value
Unvested restricted stock at December 31, 2022 | ​ | 6,276,376 | ​ | $ | 21.56 | ​ | $ | 77,639
Granted | ​ | 4,131,193 | ​ | ​ | 11.55 | ​ | ​ | —
Vested | ​ | (2,851,637) | ​ | ​ | 20.40 | ​ | ​ | —
Forfeited | ​ | (823,048) | ​ | ​ | 23.60 | ​ | ​ | —
Unvested restricted stock at December 31, 2023 | ​ | 6,732,884 | ​ | $ | 15.66 | ​ | $ | 30,298
Service Stock Options Awards |
Assumptions made for the purpose of estimating fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, | ​ | December 31, | ​ | December 31,
​ | ​ | 2023 |  | 2022 | ​ | 2021
Expected term of options (years) | ​ | 5 | ​ | 5 | ​ | 3-5
Risk free interest rate | ​ | 3.40% - 4.69% | ​ | 1.26% - 4.34% | ​ | 0.61% - 1.23%
Volatility | ​ | 80.02% - 92.55% | ​ | 73.38% - 85.97% | ​ | 72.46% - 76.60%
Schedule of Share-based Compensation, Stock Options, Activity | The following table reflects the Service Stock Option activity for the year ended December 31, 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ |  | Weighted |  | ​ | ​
​ | ​ | ​ | ​ | Weighted | ​ | Average | ​ | ​ | ​
​ | ​ | ​ | ​ | Average | ​ | Remaining | ​ | Aggregate
​ | ​ | ​ | ​ | Exercise | ​ | Contractual | ​ | Intrinsic
​ | ​ | Shares | ​ | Price | ​ | Terms | ​ | Value
Options outstanding at December 31, 2022 | ​ | 12,078,269 | ​ | $ | 14.34 | ​ | ​ | 7.57 | ​ | $ | 42,835
Options exercisable at December 31, 2022 | ​ | 6,661,969 | ​ | ​ | 8.41 | ​ | ​ | 6.40 | ​ | ​ | 42,182
Options unvested at December 31, 2022 | ​ | 5,416,300 | ​ | ​ | 21.63 | ​ | ​ | 9.01 | ​ | ​ | 653
Granted | ​ | 6,849,689 | ​ | ​ | 7.08 | ​ | ​ | — | ​ | ​ | —
Exercised | ​ | (716,581) | ​ | ​ | 2.25 | ​ | ​ | — | ​ | ​ | —
Forfeited | ​ | (875,015) | ​ | ​ | 26.27 | ​ | ​ | — | ​ | ​ | —
Options outstanding at December 31, 2023 | ​ | 17,336,362 | ​ | $ | 11.37 | ​ | ​ | 7.86 | ​ | $ | 11,391
Options exercisable at December 31, 2023 | ​ | 8,288,944 | ​ | ​ | 11.84 | ​ | ​ | 6.18 | ​ | ​ | 7,250
Options unvested at December 31, 2023 | ​ | 9,047,418 | ​ | $ | 10.94 | ​ | ​ | 9.39 | ​ | $ | 4,141
Performance Stock Option Awards |
Assumptions made for the purpose of estimating fair value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | ​ | December 31, | ​ | ​ | December 31,
​ | ​ | 2023 | ​ | ​ | 2022 | ​ | ​ | 2021
Remaining VWAP performance period (years) | ​ | 3 | ​ | ​ | 3 | ​ | ​ | 3
Risk- free interest rate | ​ | 3.60% | ​ | ​ | 3.10% | ​ | ​ | 1.12%
Expected volatility | ​ | 75.00% | ​ | ​ | 75.00% | ​ | ​ | 70.00%
Closing stock price on grant date | $ | 7.87 | ​ | $ | 26.38 | ​ | $ | 26.92
Schedule of Share-based Compensation, Stock Options, Activity | The following table reflects the Performance Stock Option activity for the year ended December 31, 2023. Solely for the purposes of this table, the number of shares is based on participants earning the maximum number of shares underlying the Performance Stock Options (i.e., 200% of the target number of shares). ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ |  | Weighted |  | ​ | ​
​ | ​ | ​ | ​ | Weighted | ​ | Average | ​ | ​ | ​
​ | ​ | ​ | ​ | Average | ​ | Remaining | ​ | Aggregate
​ | ​ | ​ | ​ | Exercise | ​ | Contractual | ​ | Intrinsic
​ | ​ | Shares | ​ | Price | ​ | Terms | ​ | Value
Options outstanding at December 31, 2022 | ​ | 15,520,000 | ​ | $ | 26.87 | ​ | 5.81 | ​ | $ | —
Options exercisable at December 31, 2022 | ​ | 1,391,000 | ​ | ​ | 26.9 | ​ | 5.7 | ​ | ​ | —
Options unvested at December 31, 2022 | ​ | 14,129,000 | ​ | ​ | 26.86 | ​ | 5.82 | ​ | ​ | —
Granted | ​ | 6,405,000 | ​ | ​ | 7.87 | ​ | 6.38 | ​ | ​ | —
Exercised | ​ | — | ​ | ​ | — | ​ | — | ​ | ​ | —
Forfeited | ​ | — | ​ | ​ | — | ​ | — | ​ | ​ | —
Options outstanding at December 31, 2023 | ​ | 21,925,000 | ​ | $ | 21.32 | ​ | 5.27 | ​ | $ | —
Options exercisable at December 31, 2023 | ​ | 2,782,000 | ​ | ​ | 26.92 | ​ | 4.73 | ​ | ​ | —
Options unvested at December 31, 2023 | ​ | 19,143,000 | ​ | $ | 20.50 | ​ | 5.35 | ​ | $ | —
​

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