Abstract
Due to the non-renewable nature of fossil fuels and the impact they have on the environment, they will be completely used up in the near future. Mankind will be forced to retreat to more environment-friendly options. Although some companies are switching towards more eco-friendly options, it hardly meets the growing demand of the energy requirements. This paper portrays the important perspectives and significance of Biophysical Economics and why it is necessary for economies to consider the consumption of energy in such a way that would yield a higher efficiency in the economy. Traditional models used to neglect the importance of Biophysical energy keep the economy connected by the balanced flow of energy. Problems related to shifting towards renewable energy are often considered economic, institutional, political, social or biophysical. From an energy synthesis perspective, BPE is incorporated with the monetary economy within the global biosphere. The objective of this paper is to discuss how money, economy, and energy are interlinked Biophysical Assessment and models which are developed by successful economists help us to determine the methods we could collaborate biophysical approach in our economy some of which are discussed in this paper. The paper is concluded by how these approaches would help to gain economic efficiency by taking biophysical economics and renewable sources of energy as the primary sources in any industry for a promising future.
Similar content being viewed by others
References
Adolphson, L. D. (2004). A new perspective on ethics, ecology, and economics. Journal of Business Ethics, 54, 2013–2216.
Baruch-Mordo, S., et al. (2019). From Paris to practice: Sustainable implementation of renewable energy goals. Environmental Research Letters, 14, 024013.
Bourgeron, P. S., & Jensen, M. E. (2001). A guidebook for integrated ecological assessments. New York: Springer.
Brown, M. T., & Ulgiati, S. (2011). Understanding the global economic crisis: A biophysical perspective. Ecological Modelling, 223(1), 4–13.
Burke, M. J., & Stephens, J. C. (2018). Political power and renewable energy futures: A critical review. Energy Research and Social Science, 35, 78–93.
Cleveland, J. C. (1991). Natural resource scarcity and economic growth revisited: Economic and biophysical perspectives (pp. 290–317). Boston: Department of Geography and Center for Energy and Environmental Studies at Boston University.
Dale, M., Krumdieck, S., & Bodger, P. (2012). Global energy modeling—a biophysical approach (GEMBA) part 1: An overview of biophysical economics. Ecological Economics, 73, 152–157.
Delzeit, R., et al. (2018a). Global economic–biophysical assessment of midterm scenarios for agricultural markets—biofuel policies, dietary patterns, cropland expansion, and productivity growth. Environmental Research Letters, 13, 025003.
Delzeit, R., et al. (2018b). Global economic-biophysical assessment of midterm scenarios for agricultural markets—biofuel policies, dietary patterns, cropland expansion, and productivity growth. Environmental Research Letters, 13(2), 025003. https://doi.org/10.1088/1748-9326/aa9da2.
Demirbas, A. (2007). Importance of biodiesel as transportation fuel. Energy Policy, 35(9), 4661–4670. https://doi.org/10.1016/j.enpol.2007.04.003.l,InEnergyPolicy,Elsevier.
Dorninger, C., et al. (2017). Assessing sustainable biophysical human–nature connectedness at regional scales. Environmental Research Letters, 12, 055001.
Dumanski, J., Pettapiece, W. W., & Mcgregor, R. J. (1998). Relevance of scale-dependent approaches for integrating biophysical and socio-economic information and development of agroecological indicators. Soil and Water Quality at Different Scales, 50, 13–22.
Di Felice, L., Ripa, M., & Giampietro, M. (2018). Deep decarbonisation from a biophysical perspective: GHG emissions of a renewable electricity transformation in the EU. Sustainability, 10(10), 3685.
Feng, J. (2019). Literature review about mainstream economics and biophysical economics. International Conference on Economics and Management (ICEM 2019).
Fix, B. (2015). Rethinking economic growth theory from a biophysical perspective. Briefs in energy (pp. 1–129). Berlin: Springer.
Foster, T., Brozović, N., & Butler, A. P. (2017). Effects of initial aquifer conditions on economic benefits from groundwater conservation. Water Resources Research, 53(1), 744–762.
Gerpen, J. Van. (2002) Business management for biodiesel producers. https://doi.org/10.2172/1216103.
Gowdy, J. J., & Erickson, D. J. (2005). The approach to ecological economics. Cambridge Journal of Economics, 29, 207–222.
Haberl, H., et al. (2013). Bioenergy: how much can we expect for 2050? Environmental Research Letters, 8, 031004.
Hall, C. A. S., & Kent, K. A. (2006). The need for a new, biophysical-based paradigm in economics for the second half of the age of oil. International Journal of Transdisciplinary Research, 1(1), 4–22.
Hall, C. A. S., & Kent, K. (2018). Biophysical economics: the economics perspective. Energy and the Wealth of Nations. https://doi.org/10.1007/978-3-319-66219-0_5.
Hertel, T., et al. (2019). A review of global-local-global linkages in economic land-use/cover change models. Environmental Research Letters, 14, 053003.
Hoseini, S. S., et al. (2017). The effect of combustion management on diesel engine emissions fueled with biodiesel-diesel blends. Renewable and Sustainable Energy Reviews, 73, 307–331. https://doi.org/10.1016/j.rser.2017.01.088.
Isom, L., & Hanna, M. (2005). biodiesel current and future perspectives. Handbook of plant-based biofuels (pp. 177–181). Abingdon: Routledge. https://doi.org/10.1201/9780789038746.sec3
Jaruwat, P., et al. (2009). Management of biodiesel wastewater by the combined processes of chemical recovery and electrochemical treatment. Energy Conversion and Management, 51(3), 531–537. https://doi.org/10.1016/j.enconman.2009.10.018.
Jha, K., Doshi, A., Patel, P., & Shah, M. (2019). A comprehensive review on automation in agriculture using artificial intelligence. Artificial Intelligence in Agriculture, 2, 1–12. https://doi.org/10.1016/j.aiia.2019.05.004.
Joshi, S., Hadiya, P., Shah, M., & Sircar, A. (2019). Techno-economical and experimental analysis of biodiesel production from used cooking oil. BioPhysical Economics and Resource Quality, 4(1), 1–6. https://doi.org/10.1007/s41247-018-0050-7.
Kargbo, D. M. (2010). Biodiesel production from municipal sewage sludges. Energy and Fuels, 24(5), 2791–2794. https://doi.org/10.1021/ef1001106.
King, C. W. (2019). An integrated biophysical and economic modeling framework for long-term sustainability analysis: The HARMONEY model. Ecological Economics, 169, 106464.
Neupane, N., Murthy, M. S. R., Rasul, G., Wahid, S., Shrestha, A. B., & Uddin, K. (2013). Integrated biophysical and socioeconomic model for adaptation to climate change for agriculture and Water in the Koshi Basin. Handbook of climate change adaptation (pp. 1–23). Berlin: Springer.
Ng, J.-H., et al. (2009). Recent trends in policies, socioeconomy and future directions of the biodiesel industry. Clean Technologies and Environmental Policy, 12(3), 213–238. https://doi.org/10.1007/s10098-009-0235-2.
Palmer, G. (2018b). A biophysical perspective of IPCC integrated energy modelling. Energies, 11(4), 839.
Palmer, G. (2018a). A biophysical perspective of IPCC integrated energy modelling. Energies, 11(4), 1–17.
Patel, M., Patel, J., Pawar, Y., et al. (2020). Membrane-based downhole oil–water separation (DOWS) technology: An alternative to hydrocyclone-based DOWS. Journal of Petroleum Exploration and Production Technology, 10, 2079–2088. https://doi.org/10.1007/s13202-020-00848-x.
Qureshi, M. E., Qureshi, S. E., Bajracharya, K., & Kirby, M. (2007). Integrated biophysical and economic modelling framework to assess impacts of alternative groundwater management options. Water Resources Management, 22(3), 321–341.
Rye, C. D., & Jackson, T. (2018). A review of EROEI-dynamics energy-transition models. Energy Policy, 122, 260–272.
Shah, B., Kansara, B., Shankar, J., Soni, M., Bhimjiyani, P., Bhanushali, T., et al. (2019c). Reckoning of water quality for irrigation and drinking purposes in the Konkan geothermal provinces, Maharashtra, India. Groundwater for Sustainable Development. https://doi.org/10.1016/j.gsd.2019.100247.
Shah, S., Shah, M., Shah, A., et al. (2020). Evolution in the membrane-based materials and comprehensive review on carbon capture and storage in industries. Emergent Materials, 3, 33–44. https://doi.org/10.1007/s42247-020-00069-2.
Shah, M., Sircar, A., Shaikh, N., Patel, K., Sharma, S., & Vaidya, D. (2019a). Comprehensive geochemical/hydrochemical and geo-thermometry analysis of Unai geothermal field, Gujarat, India. Acta Geochim., 38, 145. https://doi.org/10.1007/s11631-018-0291-6.
Shah, M., Sircar, A., Shaikh, N., Patel, K., Thakar, V., Sharma, D., et al. (2018a). Groundwater analysis of Dholera geothermal field, Gujarat, India for suitable applications. Groundwater for Sustainable Development, 7, 143–156.
Shah, M., Sircar, A., Vaidya, D., Sahajpal, S., Chaudhary, A., & Dhale, S. (2015). Overview of geothermal surface exploration methods. International Journal of Advance Research and Innovative Ideas in Education, 1(4), 55–64.
Shah, M., Sircar, A., Varsada, R., Vaishnani, S., Savaliya, U., Faldu, M., et al. (2019b). Assessment of geothermal water quality for industrial and irrigation purposes in the Unai geothermal field Gujarat, India. Groundwater for Sustainable Development, 8, 59–68.
Shah, M., Vaidya, D., & Sircar, A. (2018b). Using Monte Carlo simulation to estimate geo-thermal resource in Dholera geothermal field, Gujarat, India. Multiscale and Multidisciplinary Modeling, Experiments and Design. https://doi.org/10.1007/s41939-018-0008-x.
Shah, M., Sircar, A., Sahajpal, S., Sarkar, P., Sharma, D., Garg, S., Mishra, T., Shukla, Y. (2017). Geochemical analysis for understanding prospectivity of low enthalpy geothermal reservoirs of Dholera. Proceedings, 42nd Workshop on Geothermal Reservoir Engineering, Stanford University, Stanford, California, pp. 1–16.
Sircar, A., Shah, M., Sahajpal, S., Vaidya, D., Dhale, S., & Choudhary, A. (2015). Geothermal exploration in Gujarat: Case study from Dholera, India. Geothermal Energy, 3, 1–22.
Sircar, A., Shah, M., Vaidya, D., Dhale, S., Sahajpal, S., Yadav, K., et al. (2017). Performance simulation of ground source heat pump system based on low enthalpy geothermal systems. Emerging Trends in Chemical Engineering, 4(1), 1–12.
Turner, G. M., et al. (2013). Impacts on the biophysical economy and environment of a transition to 100% renewable electricity in Australia. Energy Policy, 54, 288–299. https://doi.org/10.1016/j.enpol.2012.11.038.
Turner, G. M., Elliston, B., & Diesendorf, M. (2013). Impacts on the biophysical economy and environment of a transition to 100% renewable electricity in Australia. Energy Policy, 54, 288–299.
Vaidya, D., Shah, M., Sircar, A., Sahajpal, S., & Dhale, S. (2015). Geothermal energy: Exploration efforts in India. International Journal of Latest Research in Science and Technology, 4(4), 1–23.
Van Der Laak, W. W. M., et al. (2006). Strategic niche management for biofuels: Analysing past experiments for developing new biofuel policies. Energy Policy, 35(6), 3213–3225. https://doi.org/10.1016/j.enpol.2006.11.009.
Acknowledgements
The authors are grateful to Buffalo State University, L.J Institute of Engineering and Technology, Leeds University and Department of Chemical Engineering, School of Technology, Pandit Deendayal Petroleum University for the permission to publish this research.
Funding
Not Applicable.
Author information
Authors and Affiliations
Contributions
All the authors make substantial contribution in this manuscript. PY, BP, EV and MS participated in drafting the manuscript. PY, BP and EV wrote the main manuscript, all the authors discussed the results and implication on the manuscript at all stages.
Corresponding author
Ethics declarations
Conflict of interests
The authors declare that they have no conflict of interest.
Ethical approval
This article does not contain any studies with human participants or animals performed by any of the authors.
Informed consent
Informed consent was obtained from all individual participants included in the study.
Rights and permissions
About this article
Cite this article
Patel, P., Patel, B., Vekaria, E. et al. Biophysical economics and management of biodiesel, a harbinger of clean and sustainable energy. Int J Energ Water Res 4, 411–423 (2020). https://doi.org/10.1007/s42108-020-00087-0
Received:
Accepted:
Published:
Issue Date:
DOI: https://doi.org/10.1007/s42108-020-00087-0