Economic feasibility of algal biodiesel under alternative public policies |
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Affiliation: | 1. Department of Agricultural Economics, Kansas State University, Manhattan, KS 66506, USA;2. Department of Chemical Engineering, Kansas State University, Manhattan, KS 66506, USA;3. Enersol Resources Inc., Manhattan, KS 66502, USA;1. Institute of Geotechnical Engineering, Southeast University, Si Pai Lou #2, Nanjing 210096, PR China;2. Institute of Lowland Technology, Saga University, Honjo 1, Saga-Shi 840-8502, Japan;3. School of Naval Architecture, Ocean, and Civil Engineering, Shanghai Jiaotong University, 1954 Hua Shan Road, Shanghai 200030, PR China;1. Grupo de Investigación en Enfermedades Infecciosas, Hospital Universitario San Ignacio, Pontificia Universidad Javeriana, Bogotá, Colombia;2. Division of Infectious Diseases, Department of Internal Medicine, McGovern Medical School at UT Health, Houston TX, USA;1. INESC Coimbra, R. Antero de Quental, 199, 3030-030 Coimbra, Portugal;2. Faculty of Economics, University of Coimbra, Portugal, Av. Dias da Silva, 165, 3004-512 Coimbra, Portugal;3. Energy for Sustainability Initiative, University of Coimbra, Portugal, Sustainable Energy Systems – MIT, Portugal;4. Laboratory for Process, Environmental and Energy Engineering (LEPAE), Faculty of Engineering, University of Porto (FEUP), R. Dr. Roberto Frias, s/n, 4200-465 Porto, Portugal;5. Department of Environmental Engineering, Faculty of Natural Sciences, Engineering and Technology (FCNET), Oporto Lusophone University (ULP), R. Dr. Augusto Rosa, 24, 400-098 Porto, Portugal;1. TRANSyT, Universidad Politécnica de Madrid, ETSI Caminos, Canales y Puertos, c/Prof. Aranguren s/n, 28040 Madrid, Spain;2. LAET-Université de Lyon, ENTPE, rue Maurice Audin, 69518 Vaulx en Velin Cedex, France;3. Arcadis/Movi’cité, 127 Blvd Stalingrad, 69626 Villeurbanne Cedex, France |
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Abstract: | The motivation for this research was to determine the influence of public policies on economic feasibility of producing algal biodiesel in a system that produced all its energy needs internally. To achieve this, a steady-state mass balance/unit operation system was modeled first. Open raceway technology was assumed for the production of algal feedstock, and the residual biomass after oil extraction was assumed fermented to produce ethanol for the transesterification process. The project assumed the production of 50 million gallons of biodiesel per year and using about 14% of the diesel output to supplement internal energy requirements. It sold the remainder biodiesel and ethanol as pure biofuels to maximize the rents from the renewable fuel standards quota system. Assuming a peak daily yield of 500 kg algal biomass (dry basis)/ha, the results show that production of algal biodiesel under the foregoing constraints is only economically feasible with direct and indirect public policy intervention. For example, the renewable fuel standards' tracking RIN (Renewable fuel Identification Number) system provides a treasury-neutral value for biofuel producers as does the reinstatement of the renewable fuel tax credit. Additionally, the capital costs of an integrated system are such that some form of capital cost grant from the government would support the economic feasibility of the algal biodiesel production. |
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Keywords: | Algae Mass balance Biodiesel Economic feasibility Public policy |
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