H-Prize Act of 2007 - Directs the Secretary of Energy to award competitive cash prizes to advance the research, development, demonstration, and commercial application of hydrogen energy technologies.
Designates prize-eligible categories, including: (1) advancements in certain hydrogen components or systems; (2) prototypes of hydrogen-powered vehicles or other hydrogen-based products that meet or exceed certain performance criteria; and (3) transformational changes in technologies for hydrogen distribution or production that meet or exceed far-reaching criteria, including minimal carbon emissions, and which may include cost criteria designed to facilitate the eventual market success of a winning technology.