John McCain wants to unleash the power of American innovation to ween the country off oil with an old fashioned, but effective motivator; a cash prize. The presumptive Republican nominee for President proposed awarding a $300 Million prize to the inventor who could come up with a car battery far advanced from the current technology available, in a recent speech at Fresno State University.
While enormous strides have been made in recent years in battery technology, what’s currently available for mass production limits plug in electric cars to about a 250 mile range per charge, and leaves little to no room for trunk storage with the space needed for the Lithium Ion Batteries. The batteries are also costly which prompted Senator McCain to require the winner of his proposed challenge to deliver battery power at 30% of current costs having as he put it, “the size, capacity, cost and power to leapfrog the commercially available plug-in hybrids or electric cars.”
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