According to DOE annual reports, US wind capacity reached 150,500 MW in 2023 with investment of $10.8 billion. The report highlights a 53% growth in the portfolio of offshore wind projects and 10.5 MW added in distributed wind.

The U.S. wind energy sector is on an upward trajectory, according to the 2024 annual market reports released by the U.S. Department of Energy (DOE). These reports, which focus on the development, expansion, and policies driving wind energy forward, highlight significant achievements and future potential in the industry. The reports emphasize the impact of the Inflation Reduction Act (IRA), which has spurred increased investment and forecasted growth in wind energy deployment.

In the past year, the U.S. wind energy sector has demonstrated resilience and growth. Under the leadership of President Biden and Vice President Harris, wind power contributed over 10% of the nation’s electricity and accounted for 12% of new electricity capacity. This sector has seen $10.8 billion in capital investment and has supported more than 125,000 American jobs. The passage of the IRA has further accelerated near-term growth forecasts by over 30%, with expectations for wind energy to increase to more than 15 gigawatts (GW) annually by 2026 and nearly 20 GW by the end of the decade.

“The United States is committed to investing in technologies to accelerate the deployment of wind energy and bring more renewable electricity onto the grid,” said Eric Lantz, director, Wind Energy Technologies Office “DOE will continue collaborating with partners and stakeholders nationwide to advance the industry and propel our nation toward a cleaner, more secure and resilient energy future for all Americans.”

Land-based wind market report: utility-scale expansion and state leaders

The Land-Based Wind Market Report, produced by DOE’s Lawrence Berkeley National Laboratory, details the addition of nearly 6,500 megawatts (MW) of new utility-scale wind capacity in 2023, bringing the total installed capacity to nearly 150,500 MW. Wind energy provided 10% of the nation's electricity, with states like Iowa, South Dakota, Kansas, and Oklahoma leading the way. Texas was the top state for new installations, adding 1,323 MW. The report also highlights the growing size and efficiency of wind turbines, which contribute to lower energy costs and significant public health and climate benefits.

Offshore wind market report: a growing pipeline and supply chain investment

The report on the offshore wind energy market by the National Renewable Energy Laboratory of the U.S. Department of Energy indicates that despite recent macroeconomic challenges and supply chain constraints, the U.S. offshore wind industry is poised for growth. The offshore wind project pipeline in the US expanded by 53% year-over-year, reaching a total of 80,523 MW, enough to power over 26 million homes if fully developed. This includes three operational projects totaling 174 MW, such as the South Fork Wind Farm, which powers New York and is the first fully operational commercial-scale wind farm in the US Projections suggest the US could have 40 GW of installed offshore wind capacity by 2035.

Source: DOE

Additional key findings include the Department of Energy's estimate of $10 billion invested in the U.S. offshore wind supply chain since early 2021, with $2.1 billion invested in 2023 alone. Eight states have procurement mandates totaling over 45 GW of offshore wind capacity by 2040. Floating offshore wind is becoming increasingly significant, with California and the Gulf of Maine now having an estimated 6,000 MW and 15,000 MW of potential projects, respectively. As of May 2024, the U.S. offshore wind project pipeline includes 38 projects in permitting or site control stages, totaling over 42 GW, with an additional 30 GW in the planning phase. Although rising interest rates, supply chain issues, and raw material costs have driven up offshore wind costs between 2021-2023, overall costs have decreased by more than 50% since 2013.

Distributed wind market report: small-scale wind projects gain momentum

The Distributed Wind Market Report, from DOE’s Pacific Northwest National Laboratory, notes the addition of 1,999 distributed wind turbines across 16 states in 2023, contributing 10.5 MW of new capacity. Distributed wind turbines, which support local energy needs, represent $37 million in new investments. Ohio, Illinois, and Alaska led in capacity additions. The report highlights initiatives like the Rural Agricultural Income & Savings from Renewable Energy (RAISE), which aims to help farmers deploy small-scale wind projects, supported by DOE and the U.S. Department of Agriculture.

These reports offer valuable insights into the current state and future of wind energy in the U.S. They are accessible to anyone interested in understanding the opportunities and challenges in the wind energy sector. Visit the DOE website at energy.gov/windreport to explore these comprehensive reports.