Lowering greenhouse gas (GHG) emissions: techno‐economic analysis of biomass conversion to biofuels and value‐added chemicals

It is important for researchers to look at alternative fuels to reduce dependence on fossil fuels as a primary source of energy, to protect the environment, and to reduce greenhouse-gas emissions. An alternative fuel has to be environment friendly and economically viable, both in terms of production and suitability for the modern world. Fuel derived from biomass has long been viewed as a potential replacement. First-generation biomass-derived fuels such as bioethanol and biodiesel have already been competing with conventional fuels, assisted by legislation. This review paper assesses the feasibility of adapting and incorporating second-generation advanced biofuel production technology for the thermochemical conversion of biomass to produce alternative fuels. The conversion technologies considered here are pyrolysis and gasification, and their potential has been examined using techno-economic assessment (TEA). A brief overview of different business models that can be incorporated during TEA has also been discussed. Techno-economic assessment data help in determining costs of technologies if they are employed on a commercial scale, especially in terms of per unit cost of product. The review has compiled the technical and economic data available for assessing the types and combination of processes that can assist competitiveness in the existing market. (c) 2019 Society of Chemical Industry and John Wiley & Sons, Ltd.