ABSTRACT
Biofuels are energy carriers that store the energy derived from organic materials (biomass), including plant materials, industrial wastewater, and animal waste. They provide a sustainable substitute for the conventional fossil fuels and have the potential to meet the world energy needs. Currently, bioethanol and biodiesel are the main biofuels produced at commercial scale; however, recent interest in renewable fuels has brought about the emergence of various advanced biofuels. The type and composition of feedstock mainly accounts for the costs of the biofuel production processes. Most of these processes overlook the energy inputs incurred during the biofuel production. To make the process economically viable, the net energy gain (i.e., output energy-input energy) must be positive. Besides energy analysis, economic assessments must be made by considering the capital investments and the operational costs. The economic analysis helps in determining the market potential of the biofuel of interest. Moreover, it helps in identifying the different metrics to measure the economic performance and feasibility of the biofuel production process. This chapter describes various approaches to assess the energy and economics of biofuel production technologies. In addition, the life cycle assessment to evaluate the environmental impact is addressed briefly.
