I’m a big fan of the X PRIZE Foundation because of the ingenuity and creativity that they promote with their record breaking contests in different fields such as aviation, energy, and science. And you know I’ve been watching the progress of the Auto X PRIZE here on my blog.

What’s amazing about their prizes as well is that you can submit your own idea for a prize. What do you think as impossible? How will it benefit all of mankind? These are the challenges that the X PRIZE Foundation wants to support.

Ken Beitel, a computer systems analyst and documentary film producer, has entered the contest and is proposing that the next X Prize be a $10 billion corporate challenge focusing on renewable energy investment:

First Company or Corporate team to Generate $10 billion in Renewable Energy Investment via Retirement Plans Could be the Winner of a Proposed New X Prize. Adding a renewable energy sector fund to 401(k) retirement plans will: 1)generate a significant number of new jobs 2)create a healthy economy, 3)increase clean energy production, 4)lower energy costs and combat climate change

You can catch a 2 minute video of his idea at The Renewable Energy Initiative which he pitches his project.

I think it’s a great idea for a prize, and we’ll have to see if the X PRIZE Foundation chooses it.

Think you have something better? Submit your proposal to the Foundation by November 18th, 2008 as they will begin judging the entries that have been submitted.

I have been covering some of the companies and cars that have signed a letter of intent to compete in the Auto X Prize with a winning prize of $10 million.

The Progressive Automotive X PRIZE is now officially taking registration for the companies that want to compete. The registration period began on August 1, 2008 and closes on January 1, 2009.

With the success that many of the companies have already had, I’m sure most of them will register their vehicles. It will be interesting to see which companies that have been in stealth mode come out and enters their vehicles.