Why doesn't the US government simply offer a 1 billion dollar tax-free prize for those who develop solar power

Question

Why doesn't the US government simply offer a 1 billion dollar tax-free prize for those who develop solar power?

I know we have certain degrees of solar energy usage going on now, but why aren't going for the big ticket winner for everyone here and even for the world? Why aren't we trying to prod and persuade scientist and corporations to go after this with a really big, savory carrot like a 1 billion dollar tax-free grand prize for finding a solar or fuel cell alternative that is relatively cheap and could power a vast majority of homes and vehicles in the USA?

If that isn't a demand for something, I don't know what is...

And don't tell me we can't afford it either. If we can billions of dollars out of nowhere to issue tax-refund checks, space programs to Mars, and pointless wars/occupations in Iraq, then we can fund this worthwhile and beneficial incentive.

Answer 1

The constituency of the current administration is Big Oil.  They would suffer a great deal if a disruptive leap in solar efficiency were made.  That said, I think it's a great idea.  When the current administration is finally finished, an "X-prize" for better solar efficiency would be great idea.  And, at a billion dollars, I cant think of a better deal for our own national security than disrupting the flow of dollars to the current oil rich countries, especially Russia and certain middle eastern countries.  Good idea!

Answer 2

That is an excellent idea.

One reason that it hasn't been done is that powerful lobbying groups which represent conventional power providers who want to protect their own business interests can influence legislators to delay the inevitable transformation to alternative energy sources.

Another reason is that there is currently no viable technology which is affordable to the average home owner.

The trick may be to offer the prize to the company that can provide the most innovative technology at an affordable price, rather than the company that provides the best solution, but which may be too pricey to implement.