The US Bureau of Ocean Energy Management (BOEM) will publish a proposed rule to update regulations for clean energy development on the U.S. Outer Continental Shelf (OCS).
The proposed regulations would modernize regulations, streamline overly complex and burdensome processes, clarify ambiguous provisions and enhance compliance provisions in order to decrease costs and uncertainty associated with the deployment of offshore wind facilities. The proposed reforms are estimated to save developers approximately $1 billion over a 20 year period.
The Department’s offshore clean energy program has matured over the past 13 years since regulations were first promulgated. BOEM has conducted 11 auctions and manages 27 active commercial leases. Based on this experience, the Department has identified opportunities to modernize its regulations to facilitate the development of offshore wind energy resources to meet U.S. climate and renewable energy objectives.
The proposed rule contains eight major components, including:
- Eliminating unnecessary requirements for the deployment of meteorological buoys
- Increasing survey flexibility
- Improving the project design and installation verification process
- Establishing a public Renewable Energy Leasing Schedule
- Reforming BOEM’s renewable energy auction regulations
- Tailoring financial assurance requirements and instruments
- Clarifying safety management system regulations
- Revising other provisions and making technical corrections