UNLEASHING THE POTENTIAL OF OFFSHORE SOLAR POWER AND THE AQUACULTURE SECTOR FOR A SUSTAINABLE MARINE ECONOMY

Abstract

In 2014, the European Union (EU) policy panel launched the Marine Action Plan (MAP), aiming to promote the development of marine energy and provide a clear development direction and policy support for blue growth and marine sustainability. It is of great significance to objectively evaluate the effects of the policies on the implementation and improvement of the policy itself. Based on the panel data of 27 members of the European Union from 1990 to 2023, this study uses the policies to construct the heterogeneous timing difference-in-difference model to evaluate the impacts of transformation policies on the offshore solar power and aquaculture integrating projects development in the European Union members. This study found that the policies have a significant role in promoting offshore solar panel production among Western European Union members but not Central and Eastern European Union members. Moreover, the policies have a significant impact on offshore solar power and aquaculture integration projects in Western European countries in comparison to the Central and Eastern European countries. These outcomes were verified by a placebo test, showing that the policy is effective, and put forward some suggestions for the further promotion of the transformation of offshore solar power projects.