First name:
Bronwyn
Last name:
Davies
Class Year:
2020
Advisor:
Cary Krosinsky
Essay Abstract:
An analysis of algal biodiesel’s potential as an alternative fuel in the transportation sector, including market analysis, adoption potential, CO2 emissions reductions offered and possible financing mechanisms to help bring algal biodiesel to scale. Targeted markets for conversion in the transportation sector include aviation, diesel vehicles and long-distance trucking due to their historic reliance on diesel or jet fuel – fuels easily substituted by biodiesel. Financing mechanisms are explored through a case study analysis of successfully financed renewable energy projects, predominately wind and solar, followed by a discussion of their application to algal biodiesel given differences between fuels and electrical energy. This essay also explores instrumental government incentivization techniques used to increase adoption rates of renewables among consumers and concludes with a discussion of the state of current algal biodiesel projects today.