Opportunities and challenges for a floating offshore wind market in California

Sammanfattning: The offshore wind energy industry is a rapidly growing industry as solutions are becoming cost-competitive and there is an increasing need to limit greenhouse gas emissions. New floating offshore wind turbine designs now enable the access to previously inaccessible offshore wind resources. In this research, a comprehensive analysis is made of the different factors influencing the macro environment for a potential floating offshore wind energy market in California. The analysis assesses the relevant political, economic,social, technological, environmental, and legal aspects in California. The outcome of this research shows the opportunities and challenges for a floating wind turbine market in California. It is found that there are many opportunities present due to California's political and economic climate. There is considerable support for offshore wind projects on the state level, demonstrated by the active engagement of the governor and the creation of the California Task Force. The large economy and high electricity prices are promising for future projects. Furthermore, wind resources are vast and the technical infrastructure is present, especially Southern California is well suited. There are technological threats present, but these are common for all renewable energy sources and seem unavoidable with the Renewable Portfolio Standards California has set. The main threats are posed by the complex regulatory environment and the financial uncertainty as a result of the lackof federal support. The Jones Act, for example, can be troublesome as it will likely increase costs and delay projects. Furthermore, the social environment and local willingness for such projects was shown to be very important for their success. The state of California has already been working pro-actively on involving the local members of thepublic in potential upcoming offshore wind energy projects. The research concludes that California offers many opportunities with surmountable threats.