Microalgal biomass is currently considered as a sustainable and renewable feedstock for biofuel production (biohydrogen, biomethane, biodiesel) characterized by lower emissions of hazardous air pollutants than fossil fuels. Photobioreactors for microalgae growth can be exploited using many industrial and domestic wastes. It allows locating the commercial microalgal systems in areas that cannot be employed for agricultural purposes, i.e., near heating or wastewater treatment plants and other industrial facilities producing carbon dioxide and organic and nutrient compounds. Despite their high potential, the large-scale algal biomass production technologies are not popular because the systems for biomass production, separation, drainage, and conversion into energy carriers are difficult to explicitly assess and balance, considering the ecological and economical concerns. Most of the studies presented in the literature have been carried out on a small, laboratory scale. This significantly limits the possibility of obtaining reliable data for a comprehensive assessment of the efficiency of such solutions. Therefore, there is a need to verify the results in pilot-scale and the full technical-scale studies. This study summarizes the strengths and weaknesses of microalgal biomass production technologies for bioenergetic applications.