Congressional Quarterly reports that the House did something sensible yesterday, passing legislation to create the hydrogen energy version of the 'X Prize:'
The government would offer a series of cash prizes for innovations in hydrogen energy under a bill the House passed Wednesday.
The bill (HR 632), by Daniel Lipinski, D-Ill., would be intended to bring clean-burning hydrogen-powered vehicles closer to reality. It passed by a 408-8 vote. “The future possibilities of this energy source are enormous,” Lipinski said...
Every two years, H-Prizes worth $1 million would be given in four categories: production, storage, distribution and utilization. One $4 million prize would be awarded for hydrogen vehicles. At the end of 10 years, a $10 million grand prize would be given for a “transformational advance in hydrogen energy technology.”
FuturePundit offered thoughts on the value of prizes a little while ago.