Biomass production, with its primary goal of producing energy or biochar on fertile agricultural land, is of questionable economic and environmental benefit if it has to compete with agricultural crops and thereby raise the price of food. We investigate the possibility of biomass production on contaminated land (BCL). BCL could improve both the economic and environmental outlook of bioenergy, as it would bring a positive economic return from contaminated land without replacing food crops. Large areas of contaminated land, such as former mining areas, would be more economical than small, fragmented, or high-value contaminated sites, such as those in former industrial belts of cities. High-biomass, high-value, and deep-rooted energy crops are particularly desirable for the dual benefits of economic return and pollution control through phytostabilization. To avoid contaminant entry into the food chain, plant uptake could be minimized by plant selection and by application of soil conditioners. The latter, however, would involve additional costs, which may reduce the economic feasibility of BCL. Moreover, with respect to the environmental effects of BCL, investigations must address effects of root exudates and decaying leaf litter on contaminant solubility, and effects of deep roots on the creation of macropores that could facilitate contaminant leaching. Detailed assessment of the value of contemporaneous phytostabilization, which occurs during BCL, is necessary to determine whether this technology is the best management option of a given site.