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The biofuels market took a big hit when COVID-19 inflicted itself on the world . Unfortunately , they ’ re closely linked to the use of traditional fossil fuels — courtesy of blending policies that require predetermined amounts of biofuel to be combined with fossil fuels for use in vehicles — so when lockdown measures were put in place , and the demand for transport fuels dropped , biofuel consumption fell as well — by 11.5 %.

• Global gasoline demand fell by 9 %

• Global diesel consumption dropped by 7 %

• Jet fuel demand plummeted by almost 40 %

Green hydrogen has been in the news a lot lately . It ’ s being hailed as the “ next best thing ” and is expected to rapidly decrease global CO2 emissions — especially across the supply chain network , which contributes to the bulk of our environmental damage .

Interestingly , hydrogen is created through electrolysis powered by renewable energy sources so , when the price of electricity falls , the cost of this type of fuel will too . As a result , you can expect to see it become more prevalent in the energy sector as we move through the year .

The IEA predicts that , in our current scenario , biofuel production could return to the levels of 2019 , but that still sees pre-pandemic expected growth drop by 5 %. energydigital . com 87