Luxury uptake of phosphorus changes the accumulation of starch and lipid in Chlorella sp. under nitrogen depletion

•Above 3% biomass phosphorus content was attained under high P condition.•Excess P reduced starch synthesis via inhibition of AGPase under N-depletion.•Lipid synthesis was stimulated by high P uptake under N-depletion.•P can regulate carbon allocation between starch and lipid synthesis pathway.