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Full-Text Articles in Physical Sciences and Mathematics
Uncertainty, Irreversibility, And Investment In Secondgeneration Biofuels, Tanner Joseph Mccarty
Uncertainty, Irreversibility, And Investment In Secondgeneration Biofuels, Tanner Joseph Mccarty
Open Access Theses
The present study formalizes and quantifies the importance of uncertainty for investment in a corn-stover based cellulosic biofuel plant. Using a real options model we recover prices of gasoline that would trigger entry into the market and calculate the portion of that entry trigger price required to cover cost and the portion that corresponds to risk premium. We then discuss the effect of managerial flexibility on the entry risk premium and the prices of gasoline that would trigger mothballing, reactivation, and exit. Results show that the risk premium required by plants to enter the second-generation biofuel market is likely to …
Direct And Indirect Greenhouse Gas Emissions From Biomass Storage: Implications For Life Cycle Assessment Of Biofuels, Isaac Robert Emery
Direct And Indirect Greenhouse Gas Emissions From Biomass Storage: Implications For Life Cycle Assessment Of Biofuels, Isaac Robert Emery
Open Access Dissertations
Ethanol and other biofuels from cellulosic feedstocks are currently the most promising candidates to replace a large fraction of gasoline consumption in the United States and reduce greenhouse gas emissions. Gaps in current approaches to estimating the net greenhouse gas emissions from second-generation biofuels may lead to underestimation of the carbon intensity of these fuels. Current life cycle assessment models of biofuels do not sufficiently account for biomass losses and emissions associated with the harvest and storage of biomass feedstocks, which can require additional fuel and materials use on the farm as well as reducing the effective yield of a …