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Economics and Uncertainty of Lignocellulosic Biofuel Production from Energy Cane and Sweet Sorghum in South Texas

Author

Listed:
  • Monge, Juan J.
  • Ribera, Luis A.
  • Jifon, John L.
  • da Silva, Jorge A.
  • Richardson, James W.

Abstract

Government support uncertainty, scarce yield information, and the inherent risk in bioeconomic phenomena are some of the deterrents faced by investors in the nascent cellulosic biofuel industry. A financial probabilistic model was developed to contrast the economic feasibility of producing cellulosic biofuels from energy cane and sweet sorghum using three technologies: hydrolysis, pyrolysis, and gasification. Hydrolysis and pyrolysis proved feasible (showed possibilities of a positive net present value) without government support and conditioned to stochastic feedstock yields and biofuel prices. Gasification was feasible with government support. Improved feedstock and biofuel productivity would considerably raise the feasibility probabilities for hydrolysis and pyrolysis without government support.

Suggested Citation

  • Monge, Juan J. & Ribera, Luis A. & Jifon, John L. & da Silva, Jorge A. & Richardson, James W., 2014. "Economics and Uncertainty of Lignocellulosic Biofuel Production from Energy Cane and Sweet Sorghum in South Texas," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 46(4), pages 457-485, November.
    • Handle: RePEc:cup:jagaec:v:46:y:2014:i:04:p:457-485_02
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    Cited by:

    1. Maisashvili, Aleksandre & Bryant, Henry L. & Richardson, James W., . "Economic feasibility of tobacco leaves for biofuel production and high value squalene," International Food and Agribusiness Management Review, International Food and Agribusiness Management Association, vol. 19(4).
    2. Appiah-Nkansah, Nana Baah & Li, Jun & Rooney, William & Wang, Donghai, 2019. "A review of sweet sorghum as a viable renewable bioenergy crop and its techno-economic analysis," Renewable Energy, Elsevier, vol. 143(C), pages 1121-1132.
    3. Liu, Zuoming, 2019. "The optimal biopower capacity in co-firing plants– An empirical analysis," Energy Economics, Elsevier, vol. 78(C), pages 392-400.
    4. Zapata, Samuel D. & Ribera, Luis A. & Palma, Marco A., 2017. "Effect Of Production Parameters On The Economic Feasibility Of A Biofuel Enterprise," Journal of Agricultural and Applied Economics, Cambridge University Press, vol. 49(3), pages 347-362, August.

    More about this item

    JEL classification:

    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation
    • Q16 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - R&D; Agricultural Technology; Biofuels; Agricultural Extension Services
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy

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