Biomaterials Commons^™

Modeling The Costs Of Cellulosic Biofuel, Maxwell Berube

Honors College

This thesis seeks to establish the private and external costs of the production of cellulosic biofuel from woody biomass. A model is presented which explores the economic feasibility of a firm producing this biofuel using a particular process. Specifically, it examines the input costs including the external costs of transportation, the external cost of pollutants produced by the firm, and potential cost reductions that may be applied as a result of learning from accumulated experience. In order to evaluate the feasibility of the plant, a spreadsheet model is built and a Monte Carlo simulation is run in order to evaluate …