Very good question- I think in combination with other renewable energy sources it is definitely an option.
I think there is still quite a bit of research to do though with algae to produce enough energy per area of algae to make it a good option which isn’t going to require a ridiculous amount of the stuff and HUGE amounts of space!
It is possible, yes. One of the people I work with is trying to find a way to make algae produce hydrogen fuel. Algae can also be genetically modified so that it produces other fuels.
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