Presumed Republican presidential nominee John McCain on Monday proposed a $300 million prize to develop a car battery that will "leapfrog" today's plug-in hybrids.McCain didn't offer any details about what it would take to win his prize, but that's OK. I'm sure his campaign boffins can come up with something reasonable on that score. And even though it's mostly a stunt, I don't really have a problem with proposing prizes like this. If it doesn't work no harm is done, and if it does work it's a cheap way of spurring innovation.
....His $300 million car battery prize is meant to spur creativity among automakers to make energy-efficient products. "This is one dollar for every man, woman, and child in the U.S. — a small price to pay for helping to break the back of our oil dependency — and should deliver a power source at 30 percent of the current costs," he said.
But what I'm curious about is why conservatives are so ga-ga over the whole prize concept in the first place. Prizes for spaceflight, prizes for batteries, prizes for cancer cures, prizes and more prizes. They really seem to love the idea, despite the fact that there's no special reason to think it will work. And the numbers they toss out are always ridiculously low. It's not as if battery development is currently some kind of big government boondoggle, after all. Lots of private sector companies are working on new battery technology, and they're doing it because the potential market is worth tens of billions of dollars. An extra $300 million isn't really much of an incentive at all.
So why the enthusiasm? I guess it seems more free market-ish than doling out research grants, but if you're dedicated to market solutions why would you think the market needs the extra boost in the first place? It's all very strange. But relatively harmless, I suppose, and possibly worth experimenting with.
Speaking of batteries, though, here's a question. Lots of energy technologies (coal, wood, oil, uranium, etc.) seem like great ideas until you scale them up to service a planet of 6 billion people. Then it suddenly turns out that they create lots of problems. So how about batteries? What would happen if we needed to manufacture not a few thouand car-sized batteries a year, but a few billion? Could we do it? What would it take? Are there disposal issues when we reach that kind of scale? I can't find anyone talking about this, but I have to believe that if we managed to electrify our energy economy this would become a pretty serious issue. Anyone know anything more about this?