The recently signed Inflation Reduction Act has lifted clean energy stocks thanks to the hundreds of billions of dollars it allocates for green initiatives. But Goldman Sachs said there are some less obvious beneficiaries that the Street is not paying enough attention to. That includes companies within the industrials and energy services sectors. "While stocks of companies directly exposed to the provisions in the IRA — particularly those related to clean energy — have received greater appreciation since the day the agreement on the bill was announced, we believe there exist underappreciated opportunities," the firm said Tuesday in a note to clients. Carrier , which provides HVAC and building management systems, is one of the names Goldman pointed to. The firm's analysts led by Brian Singer said the company could see upside from the energy efficiency provisions in the IRA. Japan-based Daikin also falls into this category. "In our view, Daikin's exposure to energy-efficient HVAC products might still be underappreciated, as we believe the company could potentially stand to benefit from the Energy Efficiency provisions included in the IRA," the firm said. On the infrastructure side, Singer highlighted Baker Hughes and MasTec . For oilfield services company Baker Hughes, Goldman said the company can help its clients move towards net-zero targets through emission management technology, among other things. Florida-based MasTec, meantime, is vital for upgrading electrical infrastructure that will carry renewable energy from its generation site to end users. Goldman said it sees "potential for rising appreciation of the company, given the critical role it plays in the construction, maintenance, repair, and upgrading of US electric and renewable infrastructure." Ultimately, the firm said funding in the IRA could provide tailwinds and "potentially generate greater appreciation." The funding package, which President Joe Biden signed into law earlier in August, also provides incentives for hydrogen. This could benefit names like Norway-based Nel as well as Siemens Energy . The former is a clean hydrogen equipment provider, with "notable U.S. sales exposure," according to Goldman. "While meaningfully overweight in ESG funds, we believe investors might not have fully recognized its exposure to the Clean Hydrogen theme, with the stock only modestly up since the day the agreement on the IRA was announced," Singer said. When it comes to Siemens Energy, Goldman noted that while the company's revenue contribution from electrolyzer sales is limited, "we see the company potentially attracting greater interest due to its exposure to the clean hydrogen provisions in the IRA." —CNBC's Michael Bloom contributed reporting.