The business opportunity
Bioenergy is, and will continue to be, a substantial part of the global renewable energy supply in a low carbon economy. Sustainable production and use of bioenergy offers tremendous opportunities for creating positive socio-economic and environmental impacts. Using waste and residue as raw materials for bioenergy is an excellent example of answering to the needs of a circular economy
Bioenergy can be referenced by the many kinds of woody, cellulosic and organic hydrocarbons and in certain cases might be used directly or more likely converted into various forms of renewable fuels and energy by a technology like Highbury. Biofuels will help enhance and safeguard energy security by reducing the world's reliance on fossil energy sources, particularly as biomass is a resource that is more evenly distributed globally. Biomass resources play a key role in creating jobs and sustaining rural economic development.
Recently, the Paris climate change negotiations and agreements have focused the world on moving away from fossil fuels. The European Commission continues its legislative initiatives for member-states’ energy and climate change plans, the U.S. EPA finalized its Clean Power Plan and critically, updated the Renewable Fuel Standards. The Government of Canada is providing national leadership and joined with the provinces and territories to take action on climate change, put a price on carbon, and reduce carbon pollution. Underscoring, the already successful low carbon fuel standard in British Columbia, Alberta and Ontario have recently adopted and published aggressive climate change and carbon reduction policy.
The Government of Canada will protect Canada’s communities and grow its economy by making significant new investments in green infrastructure and clean technologies. As part of this commitment, Canada will:
- Endow a $2 billion Low Carbon Economy Trust to fund projects that reduce carbon.
- Fulfill the G20 commitment and phase out subsidies for the fossil fuel industry.
- Work with the Provinces and Territories to develop a Canadian Energy Strategy to protect Canada’s energy security, encourage energy conservation, and bring cleaner renewable energy into the electricity grid.
While biomass power accounted for only 4.0% of total electricity consumption in the United States in 2013, it is expected to account for over 10% of the US electrical power supply by 2030. Twenty-nine states and Washington, DC, have passed renewable portfolio standards (RPSs) requiring utilities to generate renewable energy as a percentage of the energy they transmit to customers.
The most populous state, California, will require 33.0% of its generation to be renewable by 2020, with the significant subsidies for renewables over market rates that are typical of most regimes. At the same time, new Environmental Protection Agency (EPA) regulations to reduce carbon emissions will force the replacement of many older coal- fired plants with alternative energy plants – including wind, solar and biomass.
Development of new energy is also high on the Chinese government’s agenda. China’s alternative energy industry has already been growing at an annualized rate of as much as 50.6%, reaching $23.0 billion in 2013 (20% from biogas). That number is expected to reach $72.8 billion in 2018. China’s Renewable Energy Law has established targets for renewable energy to reach 15% of the country’s total consumption by 2020. China is also considering putting an absolute cap on CO2 emissions by 2016.
Particularly when viewed in the light of disappointing efficiency increases and unreliable wind and solar generation, there is a clear financial opportunity for an organization offering a commercially viable biogas renewable energy process for the production of heat, power, liquid fuels and chemicals
The organization is Highbury Energy.