Abstract
Malaysia fosters its economic growth with fossil fuels, which are not sustainable and raise atmospheric carbon dioxide. This study aims to assess the economic feasibility and sustainability of Chlorella vulgaris to create bioethanol for the transportation sector. A partial equilibrium model of the Malaysian agricultural markets is modified to include algal farms. The model forecasts agricultural prices, quantities, employment, fertiliser usage, and greenhouse gas emissions. The results suggest the algal farms produce 47.38 million litres of bioethanol in 2024 and peak at 163.67 million litres in 2044 for $0.65 per litre. This bioethanol offsets 0.11 million metric tons of carbon dioxide equivalent emissions from the transportation sector in 2024, which grows to 0.37 million tons in 2044. The microalga consumes the flue gas of coal and natural gas electric power plants – 0.31 million metric tons of carbon dioxide in 2024 and 1.09 million tons in 2044. The algal farms also sell dried slurry to the animal feed markets, which offsets the algal farm's high costs. The algal farms slightly raise Malaysia's agricultural commodity and fertiliser prices while boosting agricultural employment. The Malaysian government should subsidise algal bioethanol at $0.12 per litre.
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