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Francisco Aguilar, University of Missouri, aguilarf@missouri.edu
Nianfu Song, University of Missouri, songn@missouri.edu
Michael Goerndt, University of Missouri, goerndtm@missouri.edu (Presenter)

 

This presentation reviews the development of wood energy markets over the Great Recession and discusses prospects for growth over the rest of the decade. Wood remains the primary source of bioenergy in the US. During the great recession, its consumption in the industrial sector declined along with output, put prospects in other wood energy sectors remain promising. Wood energy continues to be used as an important source of power in direct combustion. Manufacturing of industrial pellets has expanded thanks to competitive prices in the European Union. Residential consumption remains steady at about 20 percent of total wood energy demanded but could increase contingent on higher electricity prices. Targets for cellulosic fuels under the Renewable Fuel Standards continue to be missed, yet higher oil prices coupled with public financial support could provide the necessary price signals to encourage investment and commercial production.