Developers of second generation biofuels made from non-food crops and waste material are on track to deliver fuels that are cost-competitive with ethanol and conventional fossil fuels by the second half of this decade.
That is the conclusion of a new report from Bloomberg New Energy Finance (BNEF), released today, which surveyed leading developers of so-called cellulosic biofuels and found that the falling cost of enzymes and fermentation processes means they expect to achieve cost parity by 2016.
Cellulosic biofuels are widely regarded as critical to the development of the biofuels industry, as they allow developers to produce fuels from waste material or fast-growing grasses removing the need for energy crops that have been blamed for eating into agricultural land and driving up food prices.
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