In 2024, the U.S. wind market saw its lowest total installations in a decade, with just 5.2 gigawatts (GW) installed, comprising 3.9 GW of new onshore builds, 1.3 GW of onshore repowers, and 101 megawatts (MW) of offshore capacity, according to Wood Mackenzie’s U.S. Wind Energy Monitor report.
Despite this downturn, the U.S. is expected to surpass 160 GW of cumulative onshore wind capacity by 2025, with onshore growth projected to rebound to 6.3 GW in 2025. The current pipeline includes 10.8 GW under construction through 2027 and an additional 3.9 GW announced.
GE Vernova leads
GE Vernova led 2024 onshore installations with a 56 percent market share, followed by Vestas at 40 percent and Siemens Gamesa at 4 percent.
Offshore capacity is also set to increase in 2025 to 900 MW, but recent Executive Orders have led to the shelving of several projects, reducing the five-year offshore forecast by 1.8 GW.
Overall, the five-year wind market outlook has been downgraded by 40 percent, from a previously projected 75.8 GW to 45.1 GW, including 33 GW of new onshore capacity, 6.6 GW offshore, and 5.5 GW in repowers.
Wood Mackenzie has cut its five-year U.S. wind energy forecast by 40%, projecting 45.1 GW of new capacity through 2029, down from 75.8 GW. The downgrade reflects policy uncertainty, including a 2024 executive order by former President Trump halting new federal wind projects.
The market, already slowing since 2021, installed just 5.2 GW in 2023. Despite a tax credit extension in 2022, inflation, financing costs, and permitting delays hinder growth. Surging electricity demand, fueled by AI-driven data centers, offers some hope, but experts remain cautious about a full recovery amid ongoing economic and political challenges.
Baburajan Kizhakedath