Socioeconomic Implications of Advanced Biofuels Production

Abstract

The early twenty-first century marked a transitional phase in the global energy system, with a strong focus on energy conservation as a strategic priority for optimizing production capacity and minimizing energy costs. Growing concerns over the intensive use of non-renewable resources and environmental degradation caused by the burning of fossil fuels have driven the search for sustainable alternatives like biofuels. Biofuel production has substantial potential to decarbonize economies, reduce dependence on fossil oil, and improve environmental outcomes by cutting greenhouse gas (GHG) emissions. Additionally, it can create new “green” jobs in rural areas, contributing to a synergistic effect that combines social, economic, and energy-related benefits for a sustainable development, particularly in rural areas across the world. Consequently, biofuel production has emerged as a viable alternative, offering a pathway to energy-efficient and environmentally friendly rural development. In this context, this work details the efficiency of biofuel production from energy crops and waste, aiming to evaluate its significance from economic, and social perspectives. This chapter emphasizes the socioeconomic impacts of producing advanced biofuels, as well as the opportunities and challenges involved. From a societal perspective, involving stakeholders is crucial for addressing the sustainability challenges associated with biofuel production. The policymakers worldwide must actively promote biofuel production and usage by implementing policies that encourage its adoption.