Steven Chu, head of the United Stated Department of Energy, doesn't want to spend huge sums of government money investing in hydrogen technology. That much is certain after Chu decided to slash DOE funding into hydrogen research, though a good deal was later restored in separate sessions by the House and Senate.
In any case, the DOE has just announced a new program with a $1 million prize to anyone that can devise a breakthrough hydrogen storage system by 2011. Though hydrogen proponents may argue that the costly high-pressure storage tanks aren't a major stumbling block (or at least won't be within the next few years), the reality is that a more cost effective solution would be a boon for hydrogen vehicles.
Though a million bucks isn't exactly chump change for the vast majority of us, it pales in comparison to the tens of billions of dollars regularly pumped into the research and development of alternative fuels and technologies. Details of the program are slated to be released any time now at www.hydrogenprize.org.
[Source: Green Car Advisor]