Pathway 2.

Cross-Cutting Approaches to Reducing Emissions → Technological Innovation

2.3.4 Prizes and Competitions To Encourage Innovation

LPDD Recommendation: “The federal government should consider government-funded competitions and prizes to incentivize low-carbon technologies in addition to or instead of traditional research grants or contracts.”

5 Resources Found, Displaying 1 thru 5

Virgin Earth Challenge

Jurisdiction: Private Entities

The Virgin Earth Challenge, offered by billionaire Richard Branson, was a $25 million prize for the development of a commercially viable design which results in the removal of anthropogenic, atmospheric greenhouse gases.

Proposed H-Prize Act

Jurisdiction: Congress

In 2007, the House of Representatives passed the H-Prize Act to authorize $70 million in prizes for advancements in hydrogen energy.

Energy Policy Act of 2005

Jurisdiction: Congress

Authorized DOE to offer cash prizes of up to $10 million for “breakthrough achievements in research, development, demonstration, and commercial application” for energy-related innovations.

OMB Guidance to Federal Agencies on Use of Prizes

Jurisdiction: Federal Agencies and Departments

Explained that many federal agencies have sufficient statutory authority to create technology inducement prizes with existing funds and spending authorizations.

Report, Eyes on a Climate Prize

Jurisdiction: Congress, States and State Governments

Outlines the theory and history of the use of inducement prizes to encourage and direct inventive efforts and technological innovation and identifies several comparative advantages inducement prizes have over traditional grants and subsidies.