Advantages: Literally none
Let's look at the simple math of "human power". All power generated by living beings comes from the hydrolysis of ATP, a process which generates 31.1kJoules/mol of ATP. ATP is produced by cellular respiration from glucose. 38 mol of ATP is produced along with 6 mol of CO2. So that leaves us with:
1 kW = 1 kJ/s
1 kW*hr = 3600 kJ
3600 kJ/ 31.1kJ = 115.76 mol ATP cleaved to produce 1 kW*hr
115.76 mol ATP * 6/38 = 18.28 mol CO2 produced
18.28 mol CO2 * 44 g/mol CO2 = 804.32 g CO2 produced = 1.77 lb CO2/kW*hr
This is compared to the estimate from
http://www.carbonify.com (given the source it is probably over-estimated) of 1.5 lb CO2/kW*hr. This is also assuming a 100% efficient system where all the energy from the ATP is converted properly to muscle movement and then electricity which is of course not true in the slightest. Add in those inefficiencies and that number goes up dramatically.
So Human power is not as environmentally friendly as our current sources that is if we're only talking CO2 here. Since CO2 emissions have been simplified into being the root cause for all climate change problems then that's how we'll talk.
Now let's talk economically.
1 joule = 0.239005736 calories
3.6 Mj/kW*hr = 860420.64 calories/kW*hr
Pretty much the cheapest calorie source is something like Canola oil at 7 cents / 200 calories.
860420.64 cal/kW*hr * $0.07/200 cal = $301.15 / kW*hr
That compared to current energy costs of 11 cents / kW*hr. These estimates also don't include considerations for a balanced nutritional intake necessary to sustain physical activity which would surely cost more than a canola oil diet.
So it's not economical either.
UNLESS the work is being done anyways. This is assuming that we are increasing human power output worldwide to generate power. All of this math involving cost and emission goes out the window if you were planning to work out anyways. Change your workout to spin a generator instead of a bike and you've not increased your carbon output or cost by anymore than you were going to anyways. Then again... if you care about the environment should you even be working out in the first place? Your "footprint" will be bigger than someone who sits at home and reads. Of course, I'm kidding.
Bottom Line: The energy crisis a multi-faceted problem and people need to learn to look at all of the hidden costs. If anything, it is more about the using of energy and the demand for all of this energy and reducing that than it is about the production of cleaner energy. All ways of producing energy have some sort of CO2 footprint. Certainly there are more and less efficient ways and investigating them is a great idea economically, politically and ecologically, but until we curb our need for energy we will ALWAYS have much higher CO2 emissions than our ancestors.
As for human power, it's about working smarter. If you were going to do a physical activity anyway? Find a way to convert some of your energy into electrical energy. Instead of spinning a fan for a resistance work-out, spin a generator. But if you thought it would be good to power your house with your bicycle, in order to actually succeed at generating the same amount of energy as a power plant you would emit more CO2 and spend more money. That would make you a poor polluter.
MathFTW