Analysis
Haiyan Pei
Abstract
Bioenergy is renewable energy made available from materials derived from biological sources. Biomass is any organic material which has stored sunlight in the form of chemical energy. As a fuel it may include wood, wood waste, straw, manure, sugarcane, and many other by products from a variety of agricultural processes. Some of the important components of the bio energy market are biogas, starch-based and cellulosic ethanol, biodiesel, etc. Presently, the biofuels segment is the only one to have shown great promise of achieving large-scale CO2 emission reductions. According to analysts, the growth of this segment is also expected to create jobs, improve energy security, and boost economic growth. The bio energy market faces challenges in terms of technological assistance, economics, and knowledge. Several environmentalists are also opposed to the idea of burning forest biomass as it leads to greenhouse gas emissions. However, the biggest opportunity for the global bio energy market is the increasing demand for electricity across the world.