This file was created by scanning the printed publication. Errors identified by the software have been corrected; however, some errors may remain. Chapter31 Economics of Producing Populus Biomass for Energy and Fiber Systems1 "WW Charles H. Strauss and Stephen C. Grado ~ Introduction The economics of producing Populus biomass is a fairly uncomplicated concept. Some set of inputs, usually land, labor, and capital, is required in the biomass output production. Tune is an integral part of this process, and the use of these inputs over time must be considered an investment proposition. Variability in the types and amounts of inputs, length of time, and quantity of output complicates the analysis. Much of the information presented by this book should be factored into the economic analysis of Populus. This chapter provides a general model of Populus production and its use in ethanol manufacture. Major components of the model were developed from research sponsored by the U.S. Department of Energy's Short Rotation Woody Crop Program (SRWCP). The model considers the financial and energy costs of producing Populus biomass at the plantation sites, and the added costs of harvesting, transporting, and storing the biomass. The resulting raw material costs apply to the conversion of Populus biomass for either energy or fiber products. An expanded model on the conversion of Populus biomass to ethanol is in the final section of this chapter and includes all of the production costs, from the plantation site to the final product. Overall, these models are more important in identifying key components of the production process than they are in specifying particular costs. They underscore the critical dimensions of the process and identify where further research and development is needed. 1 Klopfenstein, N.B.; Chun, Y. W.; Kim, M.-S.; Ahuja, M.A., eds. Dillon, M.C.; Carman, R.C.; Eskew, L.G., tech. eds. 1997. Micropropagation, genetic engineering, and molecular biology of Populus. Gen. Tech. Rep. RM-GTR-297. Fort Collins, CO: U.S. Department of Agriculture, Forest Service, Rocky Mountain Research Station. 326 p. Basic Design for Populus Plantations Populus models by Strauss and Wright (1990) and Strauss a:'d Grado (1992) were developed to consider a plantation system established on high quality agricultural sites ~t a densi~ of 2,100 trees/ha (approximately 2.2 m 2 spacmg). Rotation length was from 5 to 8 years, with 2 or 3 rotations ~ticipated from any given planting. The opti~um rotation was selected on a least-cost pasis using a discounted cash-flow analysis (Strauss et al. 1990). Similar to agricultural row crops, plantations were established with a fall and spring planting site preparation and a spring planting of the poplar cuttings. At the onset of the fall season, the site received a total-kill herbicide and mowing operation to remove old field vegetation, followed by plowing (table 1). Lime was added at this time, depending on soil acidity. In the spring, the soil was harrowed, with a pre-emergent herbicide to counter residual weeds. To supply an adequate nutrient base for tree growth, phosphorus and potassium were added before planting. However, nitrogen was not applied until the third and fifth growing seasons to avoid augmenting weed growth in the first 2 growing seasons. Machine planting of the poplar cuttings was assumed within the cost structure of the model. Additional herbicides were scheduled at the beginning of the first 2 growing seasons to counter potential weed growth. Protection from insect and canker damage was thr~ugh a biennial insecticide/fungicide spray program. This was a preventive cost against infestations, such as cottonwood leaf beetle (Chrysomela scripta) and Septaria canker. Annual charges were assessed for land rent, property taxes, and managerial supervision of the production effort. These requirements represented specific inputs to the production function. Harvesting and transportation strategies were developed from previous studies (Stokes et al. 1986; Strauss et 241 Section V Biotechnological Applications Table 1. Financial and energy costs for the establishment and maintenance of SRWC Populus plantations. Costs in U.S. dollars for 1995. $/ha Establishment Fall/spring herbicides (3.3 kg/ha) Mowing/brushing Plowing/harrowing Liming (1.0 Mglha) Fertilization (60 kg/ha each P&K) Planting (2, 100 cutting/ha) Summer herbicides, year 1 and 22 (2.2 kg/ha) Total establishment costs Maintenance Insecticide/fungicide (1.6 kg/ha/appl.) Fertilization (120 kg of N/ha/appl.) Land rent Land taxes Managerial Approximate average annual maintenance costs 1 2 210 24 56 49 51 152 140 682 1,760 748 2,547 289 1,729 2,156 1,277 10,506 36 42 102 16 42 199 878 7,593 49,820 7,620 261 61,936 Mega joule per hectare. Year 2 costs discounted at 5%. al. 1988; Stuart et al. 1985). Harvesting equipment was designed for the small-diameter, closely--spaced SRWC plantations. After harvest, the biomass was either chipped on-site or at the processing site. Transportation used was either tractor-trailers for delivery of chipped material or flatbed units for delivery of bundled tree stems. Financial Cost Structure The cost for each operation was developed from the SRWCP data base (table 1). Charges for contracting for the establishment and operation of commercial-sized plantations compared favorably to previous models of SRWC systems (Lothner et al. 1985; Per lack et al. 1986; Strauss et al. 1988). Cost differences within particular operations were attributed to the type of equipment and amount of material used. All establishment and maintenance costs reflected an agricultural site with good aspect and soil quality. Establishment totaled $682/ha, including the discounted charge for second-year herbicides (table 1). Herbicide application represented 51 percent of establishment costs; the materials constituted over 90 percent of this expense. Land preparation (mowing /brushing, plowing /harrowing) and planting were 34 percent of the establishment costs; 54 percent of this expense was tied to the poplar cuttings. First-year liming and fertilization was the final 15 percent. 242 Maintenance included the application of nitrogen during the third and fifth growing season and the use of insecticides/ fungicides on an alternate year basis. In addition, an annual managerial cost was assessed for administrative and operational needs (table 1). Land rent represented the opportunity costs, or annual net return, of a good corn production site (7.8 Mg of grain/ha/yr). The capitalized net value of the site at a 5 percent real rate of return was $2,040 /ha. This was consistent with the land values used in previous SRWC studies and was 20 percent above the U.S. average for farm real estate (USDA ERS 1988). Annual property taxes were 0.75 percent of this land value. Energy Cost Structure The energy accounting system for the proposed SRWC plantations was patterned after other agricultural cropping systems (Pimentel1980; Roller et al. 1980) and related studies of commercial-sized SRWC plantations (Strauss et al. 1989; Zavitikovski 1979). Equipment costs included the energy: 1) embodied in the equipment's basic materials; 2) employed in equipment fabrication; and 3) embodied in repair parts. Net energy consumption over an equipment unit's life span was 82 percent of its total energy (Pimentel 1980). The division of a unit's net energy consumption by its life span, in hours, provided an hourly equipment cost. USDA Forest Service Gen. Tech. Rep. RM-GTR-297. 1997. Economics of Producing Populus Biomass for Energy and Fiber Systems Machinery costs for any given task were the product of operating times and hourly equipment costs. Energy costs for fuel, related material inputs, and labor were added to their respective equipment tasks. Material input costs included the energy embodied in materials such as fertilizer, and the added energy required in its manufacture. Labor's energy cost was based on a net analysis of the energy required by humans as agricultural laborers (Fluck 1981) and was 75 MJ /h (75 mega joule per hour). Although this charge was higher than previous estimates, the energy cost of labor in most operations was small. The energy cost of land was also organized as an opportunity cost, based upon the net energy secured from corn production (49,820 MJ /ha/yr). This energy value compared favorably to previous estimates of corn production in several U .5. regions (Pimentel1980 ). The energy charge for property taxes was based upon the energy to financial cost ratio of land rent and the cost of taxes. The energy cost of establishing SRWC plantations was 10,506 MJ /ha (table 1). Site preparation and planting was 52 percent of this expense, herbicides were 29 percent, and fertilization/liming was the final 19 percent. Site preparation and planting had proportionally larger energy costs than financial costs due to the higher energy charges for machinery and poplar cuttings. Annual maintenance was substantial because of the energy budgeted for land rent and taxes. The energy cost of poplar cuttings also reflected th~ land's energy potential, with 40 percent of the cutting cost tied to land use. Plantation Yields and Unit Costs A proposed yield was developed from the SRWCP data sets (Strauss and Wright 1990). The 2,100 trees/ha plantation was projected to have a maximum mean annual increment of 16 metric tons, oven dry, per hectare per year (Mg(OD)/ha/yr) by the sixth year. . Unit costs were estimated on a financial and energy basis using an investment analysis approach developed for SRWC plantations (Strauss et al. 1990). Under ~his approa~, ~it costs are estimated as a function of the discounted fmancial costs (or energy costs) of establishing and maintaining the plantation and the discounted plantation yields. Establishment ($/ha) + Maintenance ($/ha) discounted discounted Unit cost ($/Mg(OD}}=----------Yield (Mg(OD)/ha) discounted To avoid the time bias associated with longer rotations, the individual rotation lengths were analyzed as a per- USDA Forest Service Gen. Tech. Rep. RM-GTR-297. 1997. petual series. A 5 percent real rate of return was used throughout the analysis, with the optimum rotation length selected on a least-cost basis. Plantation Costs Analyses of a two-rotation system placed the least-cost solutions at the sixth year, with unit costs of $19.06/ Mg(OD)and 4,381 MJ/Mg(OD)(tables2and 3). If the plantations could sustain 3 rotations per planting, the leastcost solutions were still at the sixth year, with costs of $17.71 /Mg(OD) and 4,360 MJ /Mg(OD). These reductions were attributed to the extended prorate of the establishment costs over an additional rotation. However, from an energy cost standpoint, the reduction was small due to the large, fixed expense ~f land in the production model. Stratification of the financial costs by major inputs (equipment, fuel, materials, labor, and land) showed that the plantation operations were land intensive, with 44 percent of the plantation costs tied to land, 31 percent to material inputs, 18 percent to labor, and 8 percent to equipment and fuel (table 2). Basically, the opportunity cost of good quality land dominated the cash-flow aspects of the biomass production system. On an energy cost basis, the plantations were again land intensive, with 93 percent of the costs originating from land (table 3). As previously identified, this cost represented the net energy gain available to land from corn production. Although this amount of energy was not actually used by the system, it did represent a minimum energy payment to land from the SRWC system. As for actual energy used by the system, the materials used in establishment, protection from insects, etc., and fertilization were the major expenses, representing 74 percent of these energy costs. Fuel, equipment, and labor were the remaining energy inputs (table 3). Total Delivered Cost Unit costs for the harvesting/ transportation function were developed from auxiliary studies of these operations and were added to the plantation costs on a current, nondiscounted basis (Stokes et al. 1986; Strauss et al. 1988; Stuart et al. 1985). These amounted to $24/Mg(OD) and 977 MJ /Mg(OD}, based upon a SRWC-designed harvesting system and a 40-km one-way truck haul. A 15 percent loss of material was assessed against the harvesting/ transportation function (tables 2 and 3). The total delivered cost on a financial basis, including harvest/ transportation and a 15 percent material loss, was $46.42/Mg(OD) (table 2). Nearly 60 percent of the total cost originated from harvesting/ transportation and material loss. In reviewing the entire system, equipment was the primary input, representing 31 percent of all costs (table 2). 243 ..._ ...- Section V Biotechnological Applications ~ ...- Table 2. Financial costs by input type and operation for SRWC Populus biomass. Costs in U.S. dollars for 1995. ~ Percentage of cost by input Labor Materials Unit cost ($/Mg(OD))1 Equipment Fuel Establishment 5.47 13.3 6.8 72.1 7.6 0.2 lnsect./fung. 1.30 13.3 3.3 81.4 1.9 0.0 Fertilization, land rent and taxes 1.02 11.4 2.9 81.0 4.7 0.0 8.30 0.0 .0.0 0.0 0.0 100.0 Managerial 2.97 0.0 0.0 0.0 100.0 0.0 Plantation operations2 19.06 5.3 2.3 30.6 18.1 43.7 Operation ~ Land ...s) .,g ...._; V:liil ~ ~ ....., ~ Harvesting and transportation 3 Material loss (15%) Total delivered cost 24.00 55.0 22.1 0.0 22.9 Vlf) 0.0 \;8) 3.36 5.3 2.3 30.6 18.1 43.7 46.42 31.0 12.5 14.8 20.6 21.1 -.81 \31 ~ 1 Dollars per metric ton, oven dried. 2 Operation costs compounded to the end of the rotation at an interest rate of .05. 3 Strauss et al. (1988), revised for inflation to 1995. ....., ~ -..:1 ~ Table 3. Energy costs by input type and operation for SRWC Populus biomass. ~ Unit cost ($/Mg(OD))' Percentage of cost by input Labor Materials ~ Equipment Fuel 84.1 9.4 48.2 34.1 2.3 6.0 \;JJ/1 olnsect./fung. 31.9 8.7 19.0 72.0 0.3 0.0 v.sl Fertilization 183.3 1.2 2.4 96.3 0.1 0.0 Operation Establishment ° Land .... ~ Land rent and taxes Managerial Plantation operations2 4,069.9 0.0 0.0 0.0 0.0 100.0 ..... 11.4 0.0 0.0 0.0 100.0 0.0 ...~ 4,380.6 0.3 1.2 5.2 0.3 93.0 Harvesting and transportation 3 976.9 15.1 82.3 0.0 2.6 0.0 Material loss (15%) 773.0 0.3 1.2 5.2 0.3 93.0 ~ ~ ..., V:liil \:!ill Total delivered cost 6,130.5 2.7 14.1 4.4 0.7 ~ 78.2 ....... 1 Mega joules per metric ton, oven dried. Operation costs compounded to the end of the rotation at an interest rate of .05. 3 Strauss et al. (1988), with revised labor energy costs. 2 .....\/Q;il 244 USDA Forest Service Gen. Tech. Rep. RM-GTR-297. 1997. 0 ~ 'vel Economics of Producing Populus Biomass for Energy and Fiber Systems The total energy cost was 6,130 MJ /Mg(OD) (table 3). As a major input, land was 78 percent of the energy cost. Exclusive of land, 65 percent of the energy was for fuel, 20 percent for materials, 12 percent for equipment, and 3 percent for labor. 6.0 Cl) ~ E 5.0 0 :c 4.0 0 3.0 ~u "0 Sensitivity Analysis A review of the financial impact of various inputs on the total delivered cost of SRWC biomass showed equipment having the greatest impact, with a 10 percent change in its cost causing a 3.2 percent change in the delivered cost of biomass (figure 1). Again, over 90 percent of the equipment costs originated from the harvest/ transportation. As expected, inputs representing a s~aller portion of total cost had a lesser affect on the delivered cost of biomass. Plantation yields had the greatest affect on unit costs. A 10 percent change in output would shift delivered costs by approximately 5 percent. This key relationship underscored the importance of maintaining or exceeding the targeted production level of 16 Mg(OD)/ha/yr. Ethanol ·Manufacturing Inventory Control Model SRWC research has focused on genetic, silvicultural, and economic evaluations of plantation strategies. Research on the conversion of woody biomass into energy products represents another major endeavor. Inherent to the linkage between raw materials and final products is the need to manage the inventories of inputs and outputs. Forests are unique because trees represent the capital input and product output. As a product, they represent a financial commitment to inventory. Moreover, trees are perishable and may be limited by the duration of the harvest period. The storage of harvested biomass involves additional capital and operating costs, along with fluctuation in the inventory over time. Overall, matching the cyclical and finite nature of plantations with the steady state demands of a .processing plant is a complex inventory problem. General Structure of an Inventory Control Model An inventory control model was developed by Grado and Strauss (1993) to determine the least costly approach for supplying biomass to a processing plant. A dynamic programming format was used to evaluate the plantation, USDA Forest Service Gen. Tech. Rep. RM-GTR-297. 1997. 2.0 ! 1.0 a; 0.0 .~ "C g ·1.0 1-..-~-=---- Q) C) c ns .r; u E -4.0 eCD -5.0 CD a. ·6.0 L__ _ _.J...__ _ _...L..._ _ __.___ _ __ -10.0 -5.0 0.0 5.0 10.0 Percent change to input costs and plantation yields Figure 1. Sensitivity of total delivered cost of Populus biomass to changes of input costs and plantation yields. harvest, and manufacturing components of an ethanol supply system. The plantation component was based upon Populus grown under 4 to 8 year rotations using a strategy similar to that proposed by Strauss and Grado (1992). Harvesting covered a 6-month period that followed the growing season, and employed technologies similar to Stokes et al. (1986) and Stuart et al. (1985). The ethanol manufacturing process was based upon enzymatic hydrolysis of woody biomass as presented by Wright (1989) and Bergeron et al. (1989). The proposed facility could process 10,000 Mg(OD) of biomass per month to meet a maximum output of just over 3 million liters per month. Each component of the model generated particular inventories; various inventories were held during any given time period. The model identified all costs associated with the plantation, harvest, and manufacturing components. Each component used an accounting format similar to that identified by Strauss and Grado (1992). Establishment and maintenance costs for the plantation were added as capitalized expenses to the harvest and transport costs, which were then added to the manufacturing costs. All costs are reported in U.S. dollars for 1995 on a per metric ton, oven dry (Mg(OD)), or per liter (L) basis. Model solutions were for an annual operating cycle and provided: 1) the minimum cost combination for plantation, harvest, and manufacturing strategies; 2) the harvesting schedule within a year; 3) a recommended inventory policy for standing trees, harvested raw materials, and final product; and 4) net comparisons of existing supplies to operating demands for each component. 245 Section V Biotechnological Applications Model Results and Cost Comparisons The use of inventory control policies as solutions to the model provided more finished product at a lower unit cost under any given rotation. Usually, the optimum harvesting policy provided substantial cost savings for any given rotation. Although longer rotations could provide more raw material and related finished product, there was an increase in the inventories of raw material and product and in raw material deterioration (table 4). Inventory control reduced these expenses for any given rotation. For example, the least costly solution for a 6-year rotation was $0.410/L (table 4), which was 38 percent lower than the · highest cost solution for the same rotation. Among all rotation strategies, the least costly solution was 6 years (table 4). This was consistent with the solution found in the previous model. However, note that this cost was not significantly lower than for the 7- or 8-year rotations. The highest cost items within the system were the manufacturing process, harvest/ transportation, lost sales (penalty costs assessed when the supply of final product could not meet market demand), and plantation maintenance. The lowest cost items within the system were plantation establishment, raw material and final product storage, and storage deterioration. The model solution provided storage policies for standing trees, harvested materials, and finished products, along with a plantation harvest schedule. Average storage time for harvested biomass over an operating year was 2.5 months, with nearly 16,500 Mg(OD)/mo held in storage. Ethanol inventories were influenced by monthly manufacturing, final product demand, and the inventory policy. Storage of the final product was less costly than for harvested biomass (table 4). For the 6-year rotation, the average storage time for ethanol was only 1 month, with 1.9 million liters held per month. The upper storage level for ethanol was 3.0 million liters, which also represented a minimum long-term storage plant capacity. The objective of the inventory policies was to coordinate plantation inventories, wood chip storage, and ethanol storage. When viewed in the context of the dynamic market demand for the finished product, these policies were successful in establishing efficient harvesting schedules and in lowering the total costs of the production system. Conclusions What have we learned from over 15 years of SRWC research? First, if we only consider the production costs at the plantation site, land is the dominant factor. This is particularly true in cases where plantations are placed on productive soils. Land rent and taxes can represent from 40 to SO percent of the preharvest biomass cost. The cost of using good quality land is an alternative net return available from other agricultural pursuits. For SRWC systems to compete for land, comparable or higher net returns must Table 4. Financial costs for an ethanol manufacturing system under alternate Populus rotation lengths. Cost in U.S. dollars for 1995. Plantation Establishment Maintenance Harvest Harvest/transport Storage Wood chips Penalty Deterioration loss Manufacturing Processing Ethanol Storage Ethanol Penalty Market loss Total 246 4 5 Costs ($/liter) Rotation length (years) 6 0.015 0.068 0.013 0.058 0.010 0.048 0.011 0.046 0.010 0.046 0.079 0.075 0.074 0.074 0.074 0.009 0.013 0.017 0.020 0.020 0.002 0.004 0.008 0.009 0.009 0.242 0.242 0.242 0.242 0.242 0.007 0.007 0.010 0.010 0.010 0.140 0.060 0.001 0.000 0.000 0.562 0.472 0.410 0.412 0.411 7 8 USDA Forest Service Gen. Tech. Rep. RM-GTR-297. 1997. Economics of Producing Populus Biomass for Energy and Fiber Systems '\J:V be provided by woody biomass. Lower priced, marginal lands would reduce these costs, but would probably re· sult in lower yields. Second, the best means for lowering the unit cost of woody biomass at the plantation is to increase plantation yields. Although 16 Mg(OD)/ha/yr was suggested as an average annual yield, sustaining this net average may be difficult. If this annual yield was reduced by 10 percent, preharvest costs would increase by over 12 percent, thereby increasing delivered costs by over 5 percent. A comparison of small-plot research yields to commercial field yields by Hansen (1988) suggested that the current field potential for SRWC plantations may be more in the range of 10 to 12 Mg(OD)/ha/yr. Further increases were considered possible, but these future gains will depend on cultural and breeding research. Higher yields would also require a more precise matching of clonal hybrids to growing sites and the successful implementation of cultural strategies on these sites. Biotechnology will largely determine the future competitive position of Populus. Research efforts should be directed to 2 key areas; growth and yield, and maintenance costs. One method for decreasing costs is developing genetically superior stock with higher yields and lower maintenance requirements. Higher yields are achievable through increased survival rates of planting stock and the overa.ll plantation, improved coppicing between rotations, and increased growth rates. Associated with these enhancements, would be the adaptation of Populus to lower quality sites, thereby reducing land costs. Further cost reductions are possible by developing varieties that require less maintenance in terms of site preparation, soil amendments, herbicides, and pesticide sprays. Potentially, these improvements might involve certain compromises such as faster-growing varieties that require higher maintenance costs. Under final analysis, the most cost-effective opportunities for biotechnology will be those that address yield and the major cost components of the production equation. Separate from the biological forces of growing Populus are the technical factors required in the harvest, transport, and storage of this raw material. These items more than doubled the cost of the delivered and stored raw material. Woody biomass is not a convenient material to handle or move and, as such, further innovations are needed. Associated, many harvesting and transportation strategies are adaptations of technologies used in domestic forests. Although further cost reductions are possible, they may require the development of commercial SRWC markets; this precondition could stalemate the development process. The manufacture of woody biomass into a liquid fuel introduced another set of production costs. As identified in the expanded model, over 50 percent of the final output cost was tied to the conversion process, with the raw material at the plantation site representing less than 15 per- USDA Forest Service Gen. Tech. Rep. RM-GTR-297. 1997. cent of the total production costs. In the context of today's energy markets, the use of woody biomass for either liquid fuels or direct-bum electric generation cannot compete with abundant and relatively cheap fossil fuels. However, over the past 15 years, Populus has been a viable fiber stock for the paper and paperboard industry in selected regions of the U.S. In the Pacific Northwest, Populus plantations were established in a relatively short time and have provided a dependable fiber supply to certain niche markets. One potential shortcoming in this review of Populus has been a disregard for the inherent qualities of the raw material. Basically, this woody biomass was viewed as a l?ase of simple sugars or fiber stock for 2 general types of final products. However, inherent to Populus is considerable genetic variation for fiber length, chemical composition, and other qualities affecting overall product. Optimization of these qualities for specific applications deserves further attention and should serve as a focus for biotechnology research. Literature Cited Bergeron, P.W.; Wright, J.D.; Wyman, C.E.1989. Dilute acid hydrolysis of biomass for ethanol production. In: Energy from biomass and wastes XII. Chicago, IL, U.S.A.: Institute of Gas Technology: 1277-1297. Fluck, R.C. 1981. Net energy sequestered in agricultural labor. In: Transactions of the American Society of Agricultural Engineers- 1981. 24: 1449-1455. Grado, S.C.; Strauss, C. H. 1993. An inventory control model for supplying biomass to a processing facility. Applied Biochemistry and Biotechnology. 39 I 40: 310-317. Hansen, E.A. 1988. SRIC yields: A look to the future. In: Proceedings: Economic evaluations of short-rotation biomass energy systems. Duluth, MN, U.S.A. International Energy Agency: 197-207. Lothner, D.C.; Hoganson, H.M.; Rubin, P.A. 1985. Examining short-rotation hybrid investments using stochastic simulation. Duluth, MN, U.S.A.: U.S .. Department of Agriculture, Forest Service, North Central Forest Experiment Station. 31 p. Perlack, R.D.; Ranney, J.W.; Barron, W.F.; Cushman, J.H.; Trible, J.L. 1986. Short-rotation intensive culture for the production of energy feedstocks in the U.S.: A review of experimental results and remaining obstacles to commercialization. Biomass. 9: 145-59. Pimentel, D. 1980. Handbook of energy utilization in agriculture. Boca Raton, FL, U.S.A.: CRC Press. 475 p. Roller, W.L.; Kenner, H.M.; Kline, R.D.; Mederski, H.J.; Curry, R.D. 1980. Grown organic matter as a fuel raw 247 Section V Biotechnological Applications material source. NASA Cr-2608. Dayton, OH, U.S.A.: Ohio Agricultural and Development Center. 130 p. Stokes, B.J.; Frederick, D.J; Curtin, D.T. 1986. Field trials of a short-rotation biomass feller buncher and selected harvesting systems. Biomass. 11: 185-204. Strauss, C.H.; Grado, S.C.; Blankenhorn, P.R.; Bowersox, T.W. 1988. Economic evaluations of multiple rotation SRIC biomass plantations. Solar Energy. 41: 207-14. Strauss, C.H.; Grado, S.C.; Blankenhorn, P.R.; Bowersox, T.W. 1989. Developing financial and energy accounting models for woody biomass systems. Solar Energy. 42: 379-86. Strauss, C.H.; Grado, S.C.; Blankenhorn, P.R.; Bowersox, T.W. 1990. Financial selection of rotation age for SRIC plantations. Biomass. 23: 5-69. Strauss, C.H.; Wright, L.L. 1990. Woody biomass production costs in the United States: An economic summary of commercial Populus plantation systems. Solar Energy. 45: 105-10. 248 Strauss, C.H.; Grado, S.C. 1992. Input-output analysis of energy requirements for short rotation intensive culture woody biomass. Solar Energy. 48: 45-51. Stuart, W.B.; Markey, D.S.; Teel, J.B. 1985. A prototype short rotation harvester. In: The International Forest Products Research Society industrial wood energy forum '83. Proc. 47337, Vol. 1. Madison, WI, U.S.A.: 167-174. USDA Economic Research Service. 1988. Agricultural land values and markets: Situation and outlook report. ARlO. Washington D.C., U.S.A.: U.S. Department of Agriculture, Economic Research Service. 30 p. Wright, J.D. 1989. Evaluation of enzymatic hydrolysis processes. In: Energy from biomass and wastes XII. Chicago, IL, U.S.A.: Institute of Gas Technology: 1247-1277. Zavitikovski, J. 1979. Energy production in irrigated, intensively cultured plantations of Populus tristis #1 and Jack Pine. Forest Science. 25: 383-392. USDA Forest Service Gen. Tech. Rep. RM-GTR-297. 1997.