Jeremy Moorhouse, Renewable Energy Analyst, International Energy Agency, outlines what the year ahead holds for the biofuels industry.
Following Russia’s invasion of Ukraine, policymakers around the world are evaluating whether biofuels can help balance three competing priorities: energy security, greenhouse gas reductions and affordable energy supplies.
Last year, the fallout from the war led to abrupt changes in biofuel policies in a number of advanced and developing economies.
Some of these changes were positive and others not so. Additionally, that turbulence may carry into 2023 as countries look again at how this versatile range of fuels can reduce reliance on conventional sources of energy and help diversify supply.
This year, we expect global biofuel demand to expand by 5%, similar to average annual growth over the past decade. Government policies in the United States, Brazil, Europe, Indonesia and India support 70% of this growth.
Biodiesel and renewable diesel are set to account for nearly two thirds of new demand, with ethanol and biojet fuel making up the...
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