E-Prize Competition Pilot Program Act of 2015

Bill: 114-s-1346
Sponsor: full_name: Sen. Murkowski, Lisa [R-AK]
Introduced: 2015-05-14
Policy area: Energy
Subjects: Electric power generation and transmission

Energy prices

Lighting and heating

Lighting, heating, cooling

Technology assessment

Technology transfer and commercialization
Latest action: action_date: 2015-06-09
text: Committee on Energy and Natural Resources. Hearings held.

Summaries:
action_date: 2015-05-14
action_desc: Introduced in Senate
text: <p><b>E-Prize Competition Pilot Program Act of 2015 </b></p> <p>This bill directs the Department of Energy to establish for a limited time: (1) a prize competition for the development and demonstration of technology that reduces by at least 25% the cost of electricity or space heat in high-cost regions; and (2) a Competition Board to award a maximum of 4 prizes of not more than $1 million each. </p> <p>Funds for the awards shall be available from the Energy Technology Commercialization Fund. </p> <p>The Competition Board must use prescribed criteria to evaluate competing technologies. </p>

tv_txt: II 114th CONGRESS 1st Session S. 1346 IN THE SENATE OF THE UNITED STATES May 14, 2015 Ms. Murkowski introduced the following bill; which was read twice and referred to the Committee on Energy and Natural Resources A BILL To require the Secretary of Energy to establish an e-prize competition pilot program to provide up to 4 financial awards to eligible entities that develop and verifiably demonstrate technology that reduces the cost of electricity or space heat in a high-cost region.

1. Short title This Act may be cited as the E-Prize Competition Pilot Program Act of 2015 . 2. Definitions In this Act: (1) Competition Board The term Competition Board means the competition board established under section 3(a)(2). (2) Eligible entity The term eligible entity means any— (A) nonpublic entity; or (B) public-private partnership in which the private entity is more than 1/2 of the partnership. (3) Energy Technology Commercialization Fund The term Energy Technology Commercialization Fund means the fund established under section 1001(e) of the Energy Policy Act of 2005 ( 42 U.S.C. 16391 ). (4) High-cost region The term high-cost region means a region in which the average cost of electrical power or space heat exceeds 150 percent of the national average retail cost, as determined by the Secretary. (5) Secretary The term Secretary means the Secretary of Energy. 3. Prize Competition Pilot Program (a) In general The Secretary shall— (1) establish a prize competition under which eligible entities compete to develop and verifiably demonstrate technology that reduces the cost of electricity or space heat in high-cost regions by at least 25 percent; (2) establish a Competition Board to award not more than 4 prizes, each in an amount of not more than $1,000,000; and (3) use for each award amounts made available to the Energy Technology Commercialization Fund. (b) Duration The duration for the prize competition shall be not less than 2 years or more than 5 years. (c) Selection In selecting a winner for each prize, the Competition Board shall evaluate the technology based on the following criteria: (1) Cost-effectiveness and ease of installation and maintenance of the technology. (2) Amount by which the technology will decrease electricity or space heating costs in a high-cost region. (3) Ability of the technology to be deployed in a variety of climates and locations. (4) Ease of use of the technology. (5) Whether the technology is designed to be of immediate or imminent use. (6) Potential for private sector investment in the technology. (7) Potential of the technology to transform an existing industry or establish a new industry.