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Cost-effectiveness analysis of algae energy production in the EU

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  • Kovacevic, Vujadin
  • Wesseler, Justus

Abstract

Today's society relies heavily on fossil fuels as a main energy source. Global energy demand increase, energy security and climate change are the main drivers of the transition towards alternative energy sources. This paper analyses algal biodiesel production for the EU road transportation and compares it to the fossil fuels and 1st generation biofuels. A cost-effectiveness analysis was used to aggregate private and external costs and derive the social cost of each fuel. The following externalities were internalized: emissions (GHG and non-GHG), food prices impact, pesticides/fertilizers use and security of supply. Currently the social cost of producing algal biodiesel at 52.3Â [euro]Â GJ-1 is higher than rapeseed biodiesel (36.0Â [euro]Â GJ-1) and fossil fuels (15.8Â [euro]Â GJ-1). Biotechnology development, high crude oil prices and high carbon value are the key features of the scenario where algal biodiesel outcompetes all other fuels. A substantial investment into the biotechnology sector and comprehensive environmental research and policy are required to make that scenario a reality.

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Bibliographic Info

Article provided by Elsevier in its journal Energy Policy.

Volume (Year): 38 (2010)
Issue (Month): 10 (October)
Pages: 5749-5757

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Handle: RePEc:eee:enepol:v:38:y:2010:i:10:p:5749-5757

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Web page: http://www.elsevier.com/locate/enpol

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Keywords: Algae Biofuels Environment;

References

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  1. Delucchi, Mark, 2005. "A Multi-Country Analysis Of Lifecycle Emissions From Transportation Fuels And Motor Vehicles," Institute of Transportation Studies, Working Paper Series qt5x20v080, Institute of Transportation Studies, UC Davis.
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  4. Pretty, J. N. & Brett, C. & Gee, D. & Hine, R. E. & Mason, C. F. & Morison, J. I. L. & Raven, H. & Rayment, M. D. & van der Bijl, G., 2000. "An assessment of the total external costs of UK agriculture," Agricultural Systems, Elsevier, vol. 65(2), pages 113-136, August.
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  7. Delucchi, Mark, 2005. "A Multi-Country Analysis of Lifecycle Emissions From Transportation Fuels and Motor Vehicles," Institute of Transportation Studies, Working Paper Series qt1z392071, Institute of Transportation Studies, UC Davis.
  8. Zachariadis, Theodoros, 2006. "On the baseline evolution of automobile fuel economy in Europe," Energy Policy, Elsevier, vol. 34(14), pages 1773-1785, September.
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  10. David J. EVANS, 2006. "Social discount rates for the European Union," Departmental Working Papers 2006-20, Department of Economics, Management and Quantitative Methods at Università degli Studi di Milano.
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Cited by:
  1. Carriquiry, Miguel A. & Du, Xiaodong & Timilsina, Govinda R., 2011. "Second generation biofuels: Economics and policies," Energy Policy, Elsevier, vol. 39(7), pages 4222-4234, July.
  2. Adenle, Ademola A. & Haslam, Gareth E. & Lee, Lisa, 2013. "Global assessment of research and development for algae biofuel production and its potential role for sustainable development in developing countries," Energy Policy, Elsevier, vol. 61(C), pages 182-195.
  3. Najafi, Gholamhassan & Ghobadian, Barat & Yusaf, Talal F., 2011. "Algae as a sustainable energy source for biofuel production in Iran: A case study," Renewable and Sustainable Energy Reviews, Elsevier, vol. 15(8), pages 3870-3876.

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