Zeev, the hydrogen economy rests on yet-to-be-invented technologies. They include high-energy density hydrogen storage materials and high efficiency, non-silicon photovoltaic devices. To hope for a practical hydrogen "fuel tank" to put into an automobile, you need a material which can completely reversibly release and uptake nearly 10% of its total weight in hydrogen. These materials are extremely difficult to come by, since this weight requirement can be met by only the simplest of compounds containing the lightest elements. The best current material is LiAlH4, which can reversibly provide two of those hydrogen atoms stoichiometrically at relatively mild operating temperatures, but the last one is extremely difficult to remove while retaining the reversibility. There aren't many candidates which are close to this material.
On the subject of photovoltaics, for them to be truly sources of energy from the sun, the devices must produce more energy in their life cycles than is required to manufacture them, and this means that they must be made of some fairly cheap materials - plastics for the most part. Silicon solar cells are the highest efficiency available today, and I think the best ones have about 20 % efficiency. Their cost to produce and lifetime together make them a poor prospect for a renewable energy economy. The technical challenges with the so-called organic photovoltaic devices are many; not the least of which is that far too many researchers in the field are trying to improve the "Graetzel cell," an overhyped demonstration of principals with the very best efficiencies achieved of less than about 10 %, and highly irreproducible at that. The greatest challenge in PV devices is the extreme difficulty in matching of electromotive potentials; the light-harvester must be as close as possible in oxidizing power to the electron-donating material's oxidation potential, etc, and at each electron-transfer interface, you have an efficiency loss. This coupled with internal losses in the materials, which are far from optimal in properties, presents a great challenge.
My apologies for being so long-winded, but note that materials challenges are the crucial technical barriers to both hydrogen storage and photovoltaics (among other hot topics). We need some brilliant inventions in these areas to make either happen. I would think, agreeing with you, that there will be no hydrogen economy without organic photovoltaics, the greater need. I believe that we could live with relatively inefficient hydrogen storage for some time if only we had high efficiency PV devices.
I'd love to see a good deal of the funding in your 1000 crazy ideas NSF program go toward materials development. Is is damn hard work.