The potentials and challenges of algae based biofuels: A review of the techno-economic, life cycle, and resource assessment modeling

[Display omitted] •Lipid growth modeling ranges between 2.3 and 136.9m3ha−1yr−1.•Economic assessments report selling cost of fuel between $1.64 and over $30gal−1.•Life cycle assessments report GHGs of −95.7 to 534g-CO2-eqMJ−1.•Resource assessments show need for multi-resource consideration.•Need for harmonization of resource, life cycle and techno-economic assessments. Microalgae biofuel production has been extensively evaluated through resource, economic and life cycle assessments. Resource assessments consistently identify land as non-limiting and highlight the need to consider siting based on combined geographical constraints of land and other critical resources such as water and carbon dioxide. Economic assessments report a selling cost of fuel that ranges between $1.64 and over $30gal−1 consistent with large variability reported in the life cycle literature, −75 to 534gCO2-eqMJ−1. Large drivers behind such variability stem from differences in productivity assumptions, pathway technologies, and system boundaries. Productivity represents foundational units in these assessments with current assumed yields in various assessments varying by a factor of 60. A review of the literature in these areas highlights the need for harmonized assessments such that direct comparisons of alternative processing technologies can be made on the metrics of resource requirements, economic feasibility, and environmental impact.