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Title: Market and economic feasibility analysis for the implementation of 2nd generation biofuels in Greece
Authors: Mitkidis, Georgios
Magoutas, Anastasios
Kitsios, Fotis
Type: Article
Subjects: FRASCATI::Social sciences::Economics and Business::Business and Management
Keywords: 2nd generation biofuels
renewable energy
market analysis
feasibility analysis
Subjects MESH: Biofuel policies
Issue Date: Jan-2018
Source: Energy Strategy Reviews
Volume: 19
First Page: 85
Last Page: 98
Abstract: Increasing demand for fossil fuels worldwide coupled with environmental concerns has intensified the focus on Renewable Energy Sources. So-called ‘2nd generation’ biofuels, produced from residues, waste or cellulosic material, present distinct advantages over fossil fuels and can contribute to energy security and sustainable development of society. This paper aims to demonstrate that Greece holds sufficient resources to support indigenous and possibly economic production of 2nd generation biofuels in order to meet the European Union ‘Renewable Energy Directive’ targets. These mandate 10% share of biofuels in the transport sector for member states by 2020 with continuous penetration of advanced biofuels towards the 2030 horizon (RED II). A market analysis has been performed to review the biofuels market in Greece and investigate the availability of 2nd generation resources, followed by economic feasibility assessment of their production routes. Individual results identify substantial market gap, with potential to be filled through indigenous production of 2nd generation biofuels. This presents significant short to medium term growth opportunity as well as an attractive investment, provided appropriate technological pathways and feedstocks are selected that minimize overall supply-chain and productions costs, further supported by robust policies. In order to pursue this growth potential, careful central planning, de-risking and policy support from the government is required, followed by a radical reformation of the biofuels industry.
ISSN: 2211-467X
Other Identifiers: 10.1016/j.esr.2017.12.006
Appears in Collections:Department of Applied Informatics

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