Offshore Renewable Energy Development Act - Directs the Secretary of Energy to enter into agreements with specified persons to assess and identify sites in the coastal zone and in the exclusive economic zone of the United States for the location of facilities to generate renewable electric energy.
Restricts such agreements to persons with no direct financial interest in any offshore renewable electric energy generation project.
Establishes the Offshore Electric Power Generation Trust Fund to finance projects approved by the Secretary.
Authorizes the Secretary to: (1) provide grants from the Fund to domestic private and public entities to stimulate development of offshore renewable electric energy generation; and (2) implement a program to provide job training and career assistance in the offshore renewable generation industry.
Authorizes appropriations to: (1) assist coastal states in planning to identify sites for offshore renewable energy projects; (2) assist offshore renewable energy research and development, including technology development; (3) establish marine renewable energy centers and the testing and validation of offshore wave, wind, and tidal energy technologies; (4) streamline permitting for renewable energy technology that promotes technology interaction with certain permit issuing agencies; (5) address, through the National Renewable Energy Laboratory, regional strategic planning, public education, and outreach to promote improved public understanding of the benefits of offshore renewable energy; and (6) assess large-scale project siting issues.