The green economy, including biofuels and biomass production, has received consider-able academic and popular press attention. Yet, documenting and measuring the economic impact of green economy activities remains a challenge, as this ill-defined economic sector’s benefits are often overstated. This article makes two unique contributions to the emerging ac-ademic literature on the green economy. First, it contributes to the applied academic literature on economic impact assessments of the green economy by documenting approaches to meas-ure the economic impact of three alternative biomass uses: electricity generation, wood pellet manufacturing, and biofuels manufacturing. Second, it examines the regulatory influences and market volatility that challenge the long-term viability of each alternative use.