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New offshore wind regulations could save developers $1B
2022-12-16
As the Biden-Harris administration continues its effort to increase renewable energy use in the United States, the Department of Interior has proposed changes to its regulations for offshore wind development. Aiming to streamline overly complex and burdensome processes, clarify ambiguous provisions and enhance compliance measures, the department believes these updates could save developers up to $1 billion over the course of 20 years.
The changes revolve around eight major components, from eliminating unnecessary requirements for the deployment of meteorological buoys to increasing survey flexibility and improving the project design and installation verification process. The department has also established a public Renewable Energy Leasing Schedule, reformed BOEM's renewable energy auction regulations, tailored financial assurance requirements and instruments, clarified safety management system regulations, and revised other provisions.

This is just the beginning of the Interior Department's efforts to facilitate clean energy production in the US. By 2025 they plan to have held up to four additional offshore lease sales, as well as completing reviews of at least 16 plans to construct and operate commercial, offshore wind energy facilities, representing 22 GW of clean energy. This will significantly contribute to the US efforts to reduce their carbon footprint and should also provide a fair return to taxpayers.
Though still in its early stages, these proposed regulations are an exciting step towards creating a more sustainable future for the US.
As the Biden-Harris administration continues its effort to increase renewable energy use in the United States, the Department of Interior has proposed changes to its regulations for offshore wind development. Aiming to streamline overly complex and burdensome processes, clarify ambiguous provisions and enhance compliance measures, the department believes these updates could save developers up to $1 billion over the course of 20 years.
The changes revolve around eight major components, from eliminating unnecessary requirements for the deployment of meteorological buoys to increasing survey flexibility and improving the project design and installation verification process. The department has also established a public Renewable Energy Leasing Schedule, reformed BOEM's renewable energy auction regulations, tailored financial assurance requirements and instruments, clarified safety management system regulations, and revised other provisions.

This is just the beginning of the Interior Department's efforts to facilitate clean energy production in the US. By 2025 they plan to have held up to four additional offshore lease sales, as well as completing reviews of at least 16 plans to construct and operate commercial, offshore wind energy facilities, representing 22 GW of clean energy. This will significantly contribute to the US efforts to reduce their carbon footprint and should also provide a fair return to taxpayers.
Though still in its early stages, these proposed regulations are an exciting step towards creating a more sustainable future for the US.