By Praveen Kumar Gorakavi,
With ever-growing awareness of the climate crisis and global warming, everyone is turning towards sustainable alternatives to tackle them. Green fuels also known as biofuels offer a game-changing solution. Environment-conscious people all across the world have slowly been switching to biofuels, leaving the traditional fuels. Even the various governments across the world have taken major steps to ensure the inclusion of biofuels at faster rates. Biodiesel and ethanol are the most well-known biofuels. These fuels are made from renewable resources and have a number of advantages for the public at large, the economy, and the environment.
There are various advantages of biofuels both short and long-term. In comparison to fossil diesel, biofuel is created from renewable resources and is less combustible. Its lubricating qualities are greatly improved. When compared to conventional diesel, it emits fewer hazardous carbon emissions. Biofuels can be made from a variety of different materials. Using them has a substantially greater overall cost-benefit ratio.
Biofuels are currently priced the same as gasoline on the market. However, using them has a substantially greater overall cost-benefit ratio. They’re cleaner fuels, which means they emit fewer pollutants when burned. With the rising demand for biofuels, they may become more affordable in the future. Biofuel is also very easy to source. Crude oil, which is a non-renewable resource, is processed into gasoline.
Even though the present gas reservoirs will last for many years, they will eventually run dry. Biofuels can be created from a variety of sources, including manure, crop waste, other wastes, algae, and plants are grown particularly for the purpose. The majority of fossil fuels will eventually deplete and go up in smoke. Biofuels are efficient in nature since most of the sources, such as manure, corn, switchgrass, soybeans, and waste from crops and plants, are renewable and unlikely to run out anytime soon. These crops can also be replanted multiple times.
Apart from all these environmental advantages, biofuels also give strong economic security. Not every country has huge crude oil reserves. Having to import oil costs them a lot of money. A country’s reliance on fossil fuels can be reduced if more individuals switch to biofuels.
The demand for suitable biofuel crops rises as a result of biofuel production, giving the agriculture business a boost. Biofuels are less expensive than fossil fuels for powering homes, businesses, and cars. With a developing biofuel business, more employment will be produced, ensuring the stability of our economy.
Liquid biofuels, such as bioethanol and biodiesel, have gotten a lot of attention because of the global demand for fuel efficiency, environmental quality, and energy security. Various legal initiatives, like mandatory fuel blending programs, incentives for flex fuel vehicles, and farmer subsidies, have been introduced by governments all over the world.
The Indian government launched the Ethanol Blended Petrol (EBP) initiative in January 2013, which contains a 5% ethanol blend in petrol. To expand biofuel (bioethanol and biodiesel) consumption and reduce India’s present dependency on fossil fuels, the initiative placed a heavy emphasis on India’s agricultural and industrial capabilities. By 2025, a 20% ethanol blend may save the government Rs 30,000 crore in foreign currency, promote energy security, reduce carbon emissions, improve air quality, increase self-reliance, utilize damaged foodgrains, increase farmers’ earnings, create jobs, and expand investment prospects.To meet the demand for its 20% Fuel Blending Program, ethanol production is expected to increase three to fivefold in the future (FBP).By 2025, the Indian government has set a goal of 253 % growth, resulting in an Ethanol Rush.
(The author is Co-founder and CEO Microbite. MicroBite is a Hyderabad-based ethanol startup that has already contributed towards this sector making India Ethanol Positive. With its technology, the addition of biofuels into regular lives has been made more easier. Views expressed are personal and do not reflect the official position or policy of the FinancialExpress.com.)