**5. Conclusion**

Algae have come into prominence as a future carbon-neutral biofuel feedstock because of their several advantages. Despite of having been studied for over 50 years now, there are still only just a few corporations that are cultivating algae for biofuel production on a large or commercial scale. The economics of producing algae for biofuel or bioproducts are not cost effective. For this reason, it is necessary to perform a techno-economic assessment and life cycle analysis before the pilot or large-scale microalgal productions to foreseen the pros and cons of the considered algal production system. In this chapter, before the evaluation of algal production with bioeconomical aspects, firstly, bioeconomy term has been described and its classification is given in detail. Also bioeconomy approaches of European countries and the world are presented to show the importance of microalgal production. Techno-economic assessment is explained and techno-economic assessment of microalgal productions are presented in detail and cost-effective approaches are evaluated case by case in basis. Also, two case studies are presented by us, to compare the economical inputs and outputs and environmental effect of the systems such as CO2 emission and global warming potential has given. It is clear that, a biorefinery system which utilize wastewater or flue gas are economically viable. On the other hand, in the case of obtaining special products which will be utilize in pharmaceutical or food industry, genetic improvements, innovative and optimum design of cultivation systems which have different configuration or working principle, or various recycling systems should be considered to reduce the operational cost. And microalgae, which captured CO2 , should be used in many sectors, especially in biorefinery concept from the point of view of bioeconomy which comprises using renewable biological resources and sustainability.

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