taken into account—sustainability of this process, economic concern, and environmental concern.
1.7.1 Sustainability of Algae for Biofuel
Under the liquid transportation category, algal biofuel can provide viable third
generation feedstock. However, for commercial industry development, sustainability
with advanced technological and economic issues appropriate to algal based fuel
must be taken care of. To meet this vantage and challenges, attentions must be paid
on three combined approaches. First, for sequential biomass processing and also to
obtain numerous high-value products, an integrated algal biorefinery approach
should be followed which would ultimately result in the financial sustainability to
the algal biofuel production. Second, an integrated renewable energy park (IREP)
approach is proposed for combining various renewable energy industries established
in diverse locations. This will help for synergistic and effective electricity and liquid
biofuel production with net carbon emissions will be zero. This could avoid numerous sustainability issues such as productive usage of agricultural land and fossil fuel
usage. The algal biofuel industry can be linked with the other pharmaceutical and
neutraceutical industries for the sustainable development.
1.7.2 Socioeconomic Considerations
To support design of sustainable energy systems, socioeconomic indicators can be
used. These indicators representative of energy security, external trade, profitability,
resource conservation, and social acceptability have not yet been well checked in
sustainability assessments for commercial algal biodiesel producing facilities. Socioeconomic indicators that have been showed commercially and measured at the
laboratory level. Moreover, to describe socioeconomic sustainability of algal biofuel
production, it is important to describe factors affecting this process and also other
indicators that could be measured during production. Indicators which are described
in literature are mainly profitability indicators, net present value (NPV), return on
investment (ROI), fossil energy return on investment (EROI), and the resource
conservation indicator. These indicators have apparent sustainability targets and
very perfect to design sustainable algal biofuel systems. Factors affecting these
indicators are set-up, type of process, and financial expectations. Food-related
co-products from algae could enhance food security. The energy security indicators
and fuel price instability and exterior trade indicators terms of trade and trade volume
cannot be anticipated into the future with precision prior to commercialization.
Furthermore, advancement to achieve sustainability of algal biofuel would only
be possible when both environmental sustainability indicators as well as socioeconomic sustainability indicators should contribute together.
22
N. Maheshwari et al.
1.7.1 Sustainability of Algae for Biofuel
Under the liquid transportation category, algal biofuel can provide viable third
generation feedstock. However, for commercial industry development, sustainability
with advanced technological and economic issues appropriate to algal based fuel
must be taken care of. To meet this vantage and challenges, attentions must be paid
on three combined approaches. First, for sequential biomass processing and also to
obtain numerous high-value products, an integrated algal biorefinery approach
should be followed which would ultimately result in the financial sustainability to
the algal biofuel production. Second, an integrated renewable energy park (IREP)
approach is proposed for combining various renewable energy industries established
in diverse locations. This will help for synergistic and effective electricity and liquid
biofuel production with net carbon emissions will be zero. This could avoid numerous sustainability issues such as productive usage of agricultural land and fossil fuel
usage. The algal biofuel industry can be linked with the other pharmaceutical and
neutraceutical industries for the sustainable development.
1.7.2 Socioeconomic Considerations
To support design of sustainable energy systems, socioeconomic indicators can be
used. These indicators representative of energy security, external trade, profitability,
resource conservation, and social acceptability have not yet been well checked in
sustainability assessments for commercial algal biodiesel producing facilities. Socioeconomic indicators that have been showed commercially and measured at the
laboratory level. Moreover, to describe socioeconomic sustainability of algal biofuel
production, it is important to describe factors affecting this process and also other
indicators that could be measured during production. Indicators which are described
in literature are mainly profitability indicators, net present value (NPV), return on
investment (ROI), fossil energy return on investment (EROI), and the resource
conservation indicator. These indicators have apparent sustainability targets and
very perfect to design sustainable algal biofuel systems. Factors affecting these
indicators are set-up, type of process, and financial expectations. Food-related
co-products from algae could enhance food security. The energy security indicators
and fuel price instability and exterior trade indicators terms of trade and trade volume
cannot be anticipated into the future with precision prior to commercialization.
Furthermore, advancement to achieve sustainability of algal biofuel would only
be possible when both environmental sustainability indicators as well as socioeconomic sustainability indicators should contribute together.
22
N. Maheshwari et al.