H.R.2867: To authorize the Secretary of Energy to establish a program for making prizes for advanced or transformational technologies for the production, consumption, and distribution of nonpetroleum-based alternative energy and energy efficiency.

Independence Prize Act of 2007 - Directs the Secretary of Energy to establish: (1) a program for awarding prizes to U.S. entities for research, development, and commercialization of advanced or transformational technologies for the production, consumption, and distribution of nonpetroleum-based alternative energy and energy efficiency; and (2) an advisory committee.