The performance and cost of compressed hydrogen storage tank systems has been assessed and compared to the U.S. Department of Energy (DOE) 2010, 2015, and ultimate targets for automotive applications. The on-board performance and high-volume manufacturing cost were determined for compressed hydrogen tanks with design pressures of 350 bar (โผ5000 psi) and 700 bar (โผ10,000 psi) capable of storing 5.6 kg of usable hydrogen. The off-board performance and cost of delivering compressed hydrogen was determined for hydrogen produced by central steam methane reforming (SMR). The main conclusions of the assessment are that the 350-bar compressed storage system has the potential to meet the 2010 and 2015 targets for system gravimetric capacity but will not likely meet any of the system targets for volumetric capacity or cost, given our base case assumptions. The 700-bar compressed storage system has the potential to meet only the 2010 target for system gravimetric capacity and is not likely to meet any of the system targets for volumetric capacity or cost, despite the fact that its volumetric capacity is much higher than that of the 350-bar system. Both the 350-bar and 700-bar systems come close to meeting the Well-to-Tank (WTT) efficiency target, but fall short by about 5%.