Biofuel Commercialization in Developing Countries: Readiness and Prospects

Several researchers have reported the prospects of biofuel commercialization in several countries across the globe. With over ۴۰۰ million tons of biomass and ۱۵۰ million tons of agro-waste produced annually in most developing countries, the prospect of biofuel commercialization looks promising. However, it is crucial to adopt a forward-thinking approach and anticipate potential challenges that may arise, building upon the lessons learned from current obstacles. This paper review addresses the current issues that have discouraged some developing countries against embracing biofuels as an economical tool to mitigate poverty. Also, future challenges that may scuttle biofuel commercialization in developing countries was discussed to provide a workable blueprint towards wealth creation. This review identified policies and political unwillingness as fundamental challenges that must be overcome in developing countries to attract investors. Other identified salient challenges include mono-economy, poor technical know-how, poor technology, government hypocrisy, lack of funds, sustainable biomass resources, inadequate farmland, poor policies, and weak infrastructure. It is recommended that conscious short- and long-term planning be implemented to actualize biofuel commercialization in developing

Keywords:

Biofuel , Energy , Renewable Energy , Prospects