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New report: The role of biofuels beyond 2020

A new report by UK-based Element Energy has found that biofuels could be a more cost-effective way to reduce greenhouse gases than electric vehicles, at least in the near-term.

The report, The Role of Biofuels Beyond 2020, commissioned by BP, found that biofuels will become a vital part of energy policy because the vehicle market will still be dominated by internal combustion engines until at least 2030.

Looking at biofuel blending at a low, medium or high level, the report found that medium blending would result in a 9 % reduction in emissions by 2030 compared to the baseline, while a high level would lead to a cut of 27 %. 

Element Energy says that biofuel blending would cost consumers an average £13 more in comparison to a £195 annualised cost for buying an electric vehicle. When widened to the entire UK, biofuels would cost £336 million compared to £1.2 billion for electric vehicles up until 2030, a rather good saving.

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