I'd say no, judging from some new grants awarded by the Dept of Energy.
The DOE created a new section which is intended to do for energy what the DOD's DARPA did for many things, including the internet. These awards were the best of a much, much larger number of submissions. This is the first round of projects funded under ARPA-E, which is receiving $400 million under the American Recovery and Reinvestment Act.
If even a few are successful, the effect would be dramatic.
Take a look: http://www.energy.gov/news2009/documents2009/ARPA-E_Project_Selections.pdf
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