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Ground is being prepared all over the world for installation of biofuel plants which can govern the sustainable supply of cleaner fuels at affordable prices and predictable amounts. At the dawn of this century biofuels identified low cost feedstocks, their diverse pretreatments, different methods of saccharifications and fermentations and those for cultivation of biodiesel yielding organisms. Bioalcohols, biohydrogen and biogas represent the biofuels which are derived from microbial work on the biowasteresources. Extensions in this sector have focused the solar energy captured by the microalgae from which oils can be extracted for biodiesel. Undoubtedly, all forms of available energies on this planet earth had/have been derived, directly or indirectly, from the solar inputs. In this chapter pivotal role of solar insolation will be discussed albeit for regeneration as well as processing of lignocellulosic biomass for obtaining biofuels. Conclusively, biofuels’ sustainable supplies, role of solar energy has been dreamt at various steps of the process; from the collection of biowaste resources through steps of pretreatment, saccharification / fermentation and purification of the product. This chapter discusses the subject matter into two major sub-headings: 1) Biofuels from lignocellulosic / food industrial wastes and 2) Cultivation of microbes for biodiesel.

Theoretical Considerations for Economics of Second- and Third- Generation Biofuels