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Bloomberg New Energy Finance
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Europe has a unique opportunity to develop a EU27 next-generation bioproducts industry over the next decade, with major benefits for job creation, the economy, reduction of Greenhouse Gas Emissions, and energy security. In this report Bloomberg New Energy Finance explores the outcomes, barriers and policies required to develop a bioproducts industry in EU27 over the next decade. The development of this new industry could stimulate innovation and spur economic growth, generating up to EUR 31bn of revenues internally in the EU27 per year by 2020. A conservative forecast suggests that 250-300 million tonnes of biomass residues will be annually available in EU 27 for bioproduct conversion by 2020, without changing today’s agricultural land use patterns or cultivating new energy crops. By 2020 most of this available biomass residue resource could be annually processed into 75-90 billion litres of next-generation ethanol, displacing 52-62% of EU27 forecast fossil gasoline consumption. The main barrier to the development of Europe’s bioproducts potential is the perceived investment risk in an uncertain policy environment with no clear incentives.
