The green economy, including biofuels and biomass production, has received considerable 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 academic 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 measure 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.