Exploitation of the international 14/11 GHz communications bands will probably follow the same pattern as that of the 6/4 GHz bands. First, the available monopolarized bandwidth will be filled. Next, multiple beams that use spatial isolation to provide frequency reuse will be developed. Finally, full dual‐polarized operation will be employed. In the 14/11 GHz bands, rain can cause appreciable attenuation and depolarization. In some instances, dual polarized links will be depolarization limited. If up‐link power control is implemented on attenuation dominated paths, depolarization can again dominate, owing to interference constraints. In both cases, a measure of depolarization compensation needs to be introduced to reduce the impact of interference. Part I of this paper quantifies this problem and establishes a set of reference statistics which can be used to assess the need for impairment restoration. Part II will discuss several ways of reducing the system impact of path depolarization.