Thus, improving recovery and oil extraction efficiencies will definitely impact the
total cost in a positive manner.
Based on the sensitivity analysis, it may be inferred that the most effective
method to decrease the total price of the algae-derived biodiesel is to increase the
microbial biomass and the grease content. Efforts should be made during microalgal
cultivation, processing, and transformation. For instance, genetic engineering can
be employed to enhance the grease content, and the algal growth rate. Other
measures such as refining the carbon absorption rate and discovery of cost-effective
carbon and nutrient sources are also effective ways to reduce the production cost of
the microalgal biodiesel. Additionally, the choice of appropriate climate for
microalgal culture, mounting the microalgal breeding time, enhancing microalgal
recovery, oil extraction, and oil conversion efficiency, is all beneficial for downregulating the cost of biodiesel production. However, efforts pertaining to the
reduction of fixed investment, chemical reagent consumption, and energy consumption may lead to the cost reduction only to a certain extent, with limited
effects.
4 Conclusions
The current study conducted an all-inclusive bioeconomy analysis for the
algae-derived biofuel projects, such as the bioethanol and biodiesel projects. Based
on the available applied data, the cost and revenue for the former is USD 6410 and
USD 8020/ton, while that of the latter is USD 3523 and USD 3676/ton. Compared
to the fossil fuels, the economic outputs of algae-derived biofuels are a few notches
higher. NPV possesses a positive value, indicating that both the projects are worthy
of probable ventures. The outcomes of sensitivity analysis imply that efficient
measures such as reducing energy consumption, and increasing the microbial
biomass, and grease content, are conceivable elucidations to achieve a more economically feasible status for the algae-derived biofuel.
Acknowledgements The current work is jointly financed by the research program from the
Science and Technology Bureau of Xiamen City in China (3502Z20151254), and the Fundamental
Research Funds for the Central Universities, HUST (2016YXMS043, 2016YXZD007), Xiamen
University (20720160077), China.
References
Amer, L., Adhikari, B., & Pellegrino, J. (2011). Technoeconomic analysis of five
microalgae-to-biofuels processes of varying complexity. Bioresource Technology, 102(20),
9350–9359.
Bahadar, A., & Khan, M. B. (2013). Progress in energy from microalgae: A review. Renewable
and Sustainable Energy Reviews, 27, 128–148.
168
K. Peng et al.
total cost in a positive manner.
Based on the sensitivity analysis, it may be inferred that the most effective
method to decrease the total price of the algae-derived biodiesel is to increase the
microbial biomass and the grease content. Efforts should be made during microalgal
cultivation, processing, and transformation. For instance, genetic engineering can
be employed to enhance the grease content, and the algal growth rate. Other
measures such as refining the carbon absorption rate and discovery of cost-effective
carbon and nutrient sources are also effective ways to reduce the production cost of
the microalgal biodiesel. Additionally, the choice of appropriate climate for
microalgal culture, mounting the microalgal breeding time, enhancing microalgal
recovery, oil extraction, and oil conversion efficiency, is all beneficial for downregulating the cost of biodiesel production. However, efforts pertaining to the
reduction of fixed investment, chemical reagent consumption, and energy consumption may lead to the cost reduction only to a certain extent, with limited
effects.
4 Conclusions
The current study conducted an all-inclusive bioeconomy analysis for the
algae-derived biofuel projects, such as the bioethanol and biodiesel projects. Based
on the available applied data, the cost and revenue for the former is USD 6410 and
USD 8020/ton, while that of the latter is USD 3523 and USD 3676/ton. Compared
to the fossil fuels, the economic outputs of algae-derived biofuels are a few notches
higher. NPV possesses a positive value, indicating that both the projects are worthy
of probable ventures. The outcomes of sensitivity analysis imply that efficient
measures such as reducing energy consumption, and increasing the microbial
biomass, and grease content, are conceivable elucidations to achieve a more economically feasible status for the algae-derived biofuel.
Acknowledgements The current work is jointly financed by the research program from the
Science and Technology Bureau of Xiamen City in China (3502Z20151254), and the Fundamental
Research Funds for the Central Universities, HUST (2016YXMS043, 2016YXZD007), Xiamen
University (20720160077), China.
References
Amer, L., Adhikari, B., & Pellegrino, J. (2011). Technoeconomic analysis of five
microalgae-to-biofuels processes of varying complexity. Bioresource Technology, 102(20),
9350–9359.
Bahadar, A., & Khan, M. B. (2013). Progress in energy from microalgae: A review. Renewable
and Sustainable Energy Reviews, 27, 128–148.
168
K. Peng et al.