气候变化领域集成服务门户(CCPortal): Impact of government subsidies on a cellulosic biofuel sector with diverse risk preferences toward feedstock uncertainty

CCPortal

DOI	10.1016/j.enpol.2020.111737
	Impact of government subsidies on a cellulosic biofuel sector with diverse risk preferences toward feedstock uncertainty
	Sharma B.P.; Yu T.E.; English B.C.; Boyer C.N.; Larson J.A.
发表日期	2020
ISSN	03014215
卷号	146
英文摘要	Investment risk and uncertainty about the availability of biomass feedstock hinders the development of a mature cellulosic biofuel sector. The Biomass Crop Assistance Program (BCAP) is a federal program designed to subsidize farmers to establish, produce and deliver biomass feedstock to biorefineries. This study evaluated the impacts of BCAP on the optimal biofuel supply chain decisions considering feedstock yield uncertainty and associated investment risk given diverse risk preferences of the biofuel sector. The expected cost for a risk-neutral biofuel sector was minimized using a two-stage stochastic mixed integer linear program, whereas the Conditional Value-at-Risk of the supply chain was optimized for a risk-averse sector. Ex-ante analysis of a switchgrass-based biofuel sector in west Tennessee indicates BCAP payments could lower expected cost and investment risk for both risk-averse and risk-neutral biofuel sectors. However, the cost saving and risk reduction resulting from BCAP incentives for the risk-averse biofuel sector were higher than the risk-neutral biofuel sector. In addition, BCAP payments may drive more cropland to be converted for switchgrass, which potentially mitigates water-induced soil erosion and reduces greenhouse gas emissions associated with net carbon sequestration, but may also create unintended consequence of competition for land between food and fuel use. © 2020 The Authors
关键词	Biomass crop assistance program Risk-averse Stochastic model Uncertainty
英文关键词	Biofuels; Biomass; Cellulosic ethanol; Cost benefit analysis; Costs; Feedstocks; Gas emissions; Greenhouse gases; Integer programming; Investments; Plants (botany); Risk analysis; Stochastic systems; Supply chains; Value engineering; Biofuel supply chains; Biomass feedstock; Carbon sequestration; Cellulosic biofuels; Conditional Value-at-Risk; Government subsidies; Mixed integer linear program; Unintended consequences; Risk assessment; agricultural worker; biofuel; governance approach; investment; preference behavior; risk assessment; subsidy system; uncertainty analysis; Tennessee; United States; Panicum virgatum
语种	英语
来源期刊	Energy Policy
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/204858
作者单位	Department of Agricultural and Resource Economics, University of Tennessee, Knoxville, TN 37996-4518, United States
推荐引用方式 GB/T 7714	Sharma B.P.,Yu T.E.,English B.C.,et al. Impact of government subsidies on a cellulosic biofuel sector with diverse risk preferences toward feedstock uncertainty[J],2020,146.
APA	Sharma B.P.,Yu T.E.,English B.C.,Boyer C.N.,&Larson J.A..(2020).Impact of government subsidies on a cellulosic biofuel sector with diverse risk preferences toward feedstock uncertainty.Energy Policy,146.
MLA	Sharma B.P.,et al."Impact of government subsidies on a cellulosic biofuel sector with diverse risk preferences toward feedstock uncertainty".Energy Policy 146(2020).