Offshore Wind Power Policy in The U.S. And China: Comparison And Analysis

Abstract

This paper compares and analyzes different offshore wind power policies between two countries, follows the timeline for the development phase, and explores deep reasons for framework differences in three aspects (Policy Environment, Financial Incentives, and Permit Processes). The key findings are that policy is the primary driver to boost offshore wind energy. A stable policy environment with long-term goals could revise developments from experience, support SOEs to raise capital and develop experiments for provincial and local governments and increase international collaborations. Differentiating FITs payments contribute to renewable electricity generation, promote technology price decreases, and ensure market certainty. Streamlined permitting accelerates speed construction and creates an energy innovation system with multiple brands and technologies. In the end, suggestions are given separately to help China and US further develop the offshore wind power industry.