We’ve been going over the chemistry and processing aspects of making ethanol, butanol, and biodiesel, so now we’re going to throw in some economics! Cool! If the processes are not economic, then they won’t happen. The first part of the lesson will include some background information on the economic aspects of energy evaluation. Then we’ll focus on current costs of ethanol, butanol, and biodiesel, and what tend to be the best sources for making biofuels. We’ll finish off the lesson by comparing the amount of energy required to grow, harvest, and make the fuel to the amount energy available in the fuel.
By the end of this lesson, you should be able to:
- describe background information on energy economics;
- evaluate the supply and demand issues for ethanol, butanol, and biodiesel;
- utilize supply and demand information to understand economics;
- compare the amount of energy used to produce biofuel versus the amount of energy made available by the fuel.
Lesson 11 Road Map
This lesson will take us one week to complete. Please refer to the Course Syllabus for specific time frames and due dates. Specific directions for the assignment below can be found within this lesson.
If there is anything in the lesson materials that you would like to comment on, or don't quite understand, please post your thoughts and/or questions to our Throughout the Course Questions discussion forum in Canvas. I will check that discussion forum daily to respond. Remember that while you are there, you should also feel free to post your own responses if you are able to help out a classmate.