Microalgae have garnered significant global interest due to their vast application potential in the renewable energy, biopharmaceutical, and nutraceutical industries. They serve as renewable, sustainable, and economical sources of biofuels, bioactive medicinal products, and food ingredients. Biodiesel, derived from renewable resources, has become popular for its positive environmental impact. However, the high cost of biodiesel remains a primary obstacle to its commercialization. To reduce this cost, strategies such as utilizing spent cooking oils as raw materials, adopting a continuous transesterification process, and recovering high-grade glycerol from biodiesel by-products are essential. One of the major challenges of the 21st century is to secure an ecological source of transport fuels. Biofuel production based on feedstock obtained from arable land increases food prices and leads to environmental degradation. In contrast, algae present a neutral alternative in many respects, as they can be sourced from polluted water reservoirs. Eutrophication of water bodies, a sign of environmental degradation, results in an increase in algae. Algae accumulating on the shores can be harvested and used as raw material for producing biofuels such as biogas, bioethanol, and biodiesel.