30 - Energy policies in the context of third-generation biofuels

Abstract

The exploitation of fossil fuels has contributed to the increased greenhouse gas emissions as well as fluctuating fuel prices. It has driven the rise in the demand for energy leading to the shift in interest from fossil fuels to biofuel. Biofuel acts as an alternative energy source that plays an important role for the security as well as sustainability of the energy sector. It is regarded as the carbon neutral source of energy. The first generation of biofuel is derived from edible biomass that ignites the controversy of food-verses-fuel. The problem with the second generation of biofuels is its dependence on feedstock derived from nonedible plant residues that require additional pretreatment and processing steps resulting in high production costs. The third-generation biofuel is mainly produced from algal biomass. The cultivation of algae assists in CO2 capture while producing oil. It does not require arable land space and in comparison, with other energy crops, it produces biomass at a faster rate. Strategies and policies have been set and put forward by different policy-making bodies worldwide for the implementation and development of biofuel. This chapter focuses on the energy policies for the third-generation biofuel, given its various positive externalities. Prior to the recommendation of policies, the infrastructure of a country with regard to biofuel production feasibility, compatibility of engines, exhaust emission, and performance behavior needs to be understood. Taking into consideration the availability of feedstock as well as geographical location of a region, it is suggested that the standardization, recommendations as well as the implementation of these policies should take place.