Next-Generation Biofuels: Economic Viability and Environmental Impact Assessments

Robert Hughes
University of Manchester, UK

DOI:https://doi.org/10.5912/jcb2533

Abstract:

Non-food biomass, like algae, agricultural waste, and other refuse, can be converted into next-generation biofuels. These biofuels are more sustainable in comparison to traditional fossil fuels as they emit fewer harmful gasses. This paper investigates the biofuels' financial feasibility as well as their impact on the environment by examining their production cost, potential success in the market, and needed governmental assistance. Although modernization has enhanced productivity, steep costs of raw materials, infrastructural obstacles, and other costs continue to be a challenge. Studies reveal that the next-generation biofuel has the potential to drastically decrease greenhouse gas emissions; however, issues concerning land usage, water supply, and the energy needed to refine the fuel have to be corrected first. In order to reach these goals, efficient technological development, active government involvement, and deep sustainability evaluations are crucial. This research illustrates the possibilities with next-generation biofuels in the context of myriads of changes energy consumption goes through globally, and underlines the importance of further studies and policies to make these biofuels viable in the future.