United States (US) Wind Power Market Analysis by Size, Installed Capacity, Power Generation, Regulations, Key Players and Forecast to 2035

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Published: December 30, 2024 Report Code: GDAE7589IDB-ST

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United States (US) Wind Power Market Report Overview

In 2023, the cumulative installed capacity for wind power in the US was 151 GW and will grow at a CAGR of more than 6% during 2023-2035. In 2023, onshore wind was the dominant source of wind power generation across the country.

US Wind Power Market Outlook 2023-2035
US Wind Power Market Outlook 2023-2035
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The US wind power market research report discusses the renewable power market in the country and predicts future outcomes until 2035. The report also gives detailed coverage of the renewable energy policy framework governing the US wind power market.

Cumulative Installed Capacity (2023) 151 GW
CAGR (2023-2035) >6%
Historical Period 2015-2022
Forecast Period 2023-2035
Regulations ·       The Inflation Reduction Act of 2022

·       Solar Energy Manufacturing for America Act
Key Power Type ·       Onshore

·       Offshore
Leading Companies ·       WEC Energy Group Inc

·       The AES Corp

·       Santee Cooper

·       PPL Corp

·       NRG Energy Inc
Key Active Plants (Onshore) ·       Traverse Wind Project

·       Great Prairie Wind Farm_Texas

·       High Banks Wind Project

·       Highland Wind Project

·       White Mesa Wind Farm

·       Young Wind Project
Key Deal Type ·       Debt Offerings

·       Asset Transactions

·       Acquisition

·       Partnerships

·       Private Equity
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US Renewable Energy Policy Framework

  • The US government has provided generous support to the renewable energy industry over the past 10 years, owing to the country’s need for stability and independence in its energy policy, and has prepared a supportive regulatory framework and provided financial backing. The Section 203 of the Energy Policy Act of 2005 established the renewable electricity requirement which mandates that the federal government must consume at least 7.5% of its total electricity from renewable sources.
  • The US has in place renewable energy incentive programs both at the federal and state level with different states providing various kinds and degrees of support for different renewable energy technologies. The federal government drafts the policy framework, and state government designs and implements policy details for renewable energy in its state.
  • In August 2022, the US government enacted ‘The Inflation Reduction Act of 2022’ (IRA). It is a follow-up attempt after the ‘Build Back Better Act’ failed to achieve legislative support. Several of the renewable energy provision in the IRA are similar yet more enhanced than the Build Back Better Act. The IRA is a much-required boost to the renewable power industry. It provides significant federal investment in renewable power and related technologies and provides extension of tax credits and incentives.
  • In June 2021, a bill was introduced termed Solar Energy Manufacturing for America Act which aims to provide tax credit to domestic solar PV manufacturers. The bill was passed in August 2022. The incentive is expected to be available till 2028 after which it will be phased down after two years.

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US Wind Power Market – Competitive Landscape

WEC Energy Group Inc, the AES Corp, Santee Cooper, PPL Corp, and NRG Energy Inc are a few of the market players in the wind power market in the US.

 WEC Energy Group Inc – Headquartered in Milwaukee, Wisconsin, the US, it is an energy holding company. It generates and distributes electricity and thermal energy and delivers natural gas. The company produces electric power using various sources like coal, natural gas, oil, hydro, solar, wind and biomass. WEC owns, maintains, monitors, and operates electric transmission systems; owns generating facilities and leases those to its group entities; provides natural gas storage and hub services for its sister companies; and owns underground natural gas storage facilities. It serves residential, commercial, community, government customers in Illinois, Wisconsin, Michigan, and Minnesota.

US Wind Power Market Analysis, by Companies

US Wind Power Market Analysis, by Companies

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US Wind Power Market - Major Active Plants

Transverse wind project led the US wind power market under onshore sources in terms of active installed capacity contribution in 2024.

US Wind power Market, by Active Plants, 2024 (%)

US Wind power Market, by Active Plants, 2024 (%)

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US Wind Power Market Segmentation by Deal Types

In 2023, the US wind power market recorded most of the deals in debt offerings, followed by asset transaction and acquisition.

US Wind Power Market Analysis, by Deal Types, 2023 (%)

US Wind Power Market Analysis, by Deal Types, 2023 (%)

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Segments Covered in the Report

US Wind Power Market Deal Type Outlook (2015-2035)

  • Debt Offerings
  • Asset Transaction
  • Acquisition
  • Partnerships
  • Private Equity

Scope

The report analyses Spain’s wind power market. The scope of the research includes –

  • A brief introduction on global carbon emissions and global primary energy consumption.

  • An overview of the country’s renewable power market, highlighting installed capacity trends (2015-2035), generation trends (2015-2035) and installed capacity split by various renewable power sources.

  • Detailed overview of the country’s wind power market with installed capacity and generation trends and major active and upcoming wind power projects.

  • Deal analysis of the country’s wind power market.

  • Key policies and regulatory framework supporting the development of wind power sources.

  • Snapshots of some of the major market participants in the country.

Reasons to Buy

  • Enhance your decision-making capability in a more rapid and time-sensitive manner.

  • Identify key growth and investment opportunities in the country’s wind power market.

  • Facilitate decision-making based on strong historical and forecast data for wind power market.

  • Position yourself to gain the maximum advantage of the industry’s growth potential.

  • Develop strategies based on the latest regulatory events.

  • Identify key partners and business development avenues.

  • Understand and respond to your competitors’ business structure, strategy, and prospects.

Table of Contents

  • 1. Table of Contents

  • 2. List of Tables

  • 3. List of Figures

  • 4. Introduction

    • 4.1. Carbon Dioxide Emissions, Global, 2015–2023

    • 4.2. Primary Energy Consumption, Global, 2015–2023

    • 4.3. Report Guidance

  • 5. Renewable Power Market, US

    • 5.1. Renewable Power Market, US, Installed Capacity, 2015-2035

      • 5.1.1. Renewable Power Market, US, Cumulative Installed Capacity by Source, 2015-2035

      • 5.1.2. Renewable Power Market, US, Cumulative Installed Capacity Share by Source, 2023 and 2035

      • 5.1.3. Renewable Power Market, US, Net Capacity Additions by Source, 2024-2035

      • 5.1.4. Renewable Power Market, US, Capacity Growth by Source, 2023-2035

    • 5.2. Renewable Power Market, US, Power Generation, 2015-2035

      • 5.2.1. Renewable Power Market, US, Power Generation by Source, 2015-2035

      • 5.2.2. Renewable Power Market, US, Growth in Power Generation by Source, 2023-2035

  • 6. Wind Power Market, US

    • 6.1. Wind Power Market, US, Installed Capacity, 2015-2035

      • 6.1.1. Wind Power Market, US, Cumulative Installed Capacity Split by Onshore and Offshore Wind, 2015-2035

    • 6.2. Wind Power Market, US, Power Generation, 2015-2035

      • 6.2.1. Wind Power Market, US, Power Generation by Type, 2015-2035

    • 6.3. Wind Power Market, US, Market Size, 2015-2030

    • 6.4. Wind Power Market, US, Power Plants

      • 6.4.1. Wind Power Market, US, Major Active Plants

      • 6.4.2. Wind Power Market, US, Snapshot of Upcoming Plants

      • 6.4.3. Wind Power Market, US, Key Under-construction Projects.

    • 6.5. Wind Power Market, US, Deal Analysis, 2023

      • 6.5.1. Wind Power Market, US, Deal Volume vs. Deal Value, 2015–2023

      • 6.5.2. Wind Power Market, US, Split by Deal Type, 2023

    • 6.6. Wind Power Market, US, Turbine Market, 2015-2028

      • 6.6.1. Wind Turbine Market, US, Annual Installed Capacity, 2015-2028

      • 6.6.2. Wind Turbine Market, US, Market Size, 2015-2028

  • 7. Renewable Energy Market, US, Overview

    • 7.1. Federal Initiatives, US

      • 7.1.1. Brief of the upcoming 2025 Budget

      • 7.1.2. Climate Goals in Federal Fiscal Year 2024 Budget

      • 7.1.3. Tax Cuts and New Jobs Act (TCJA)

      • 7.1.4. Inflation Reduction Act (IRA)

      • 7.1.5. Production Tax Credits

      • 7.1.6. Investment Tax Credits

      • 7.1.7. Solar Manufacturing for America Act (SEMA)

      • 7.1.8. Residential Renewable Energy Tax Credit

      • 7.1.9. Renewable Energy Target

      • 7.1.10. Rural Energy for America Program: Grants

      • 7.1.11. Empowering Rural America Program (New ERA)

      • 7.1.12. Tribal Energy Program Grant

      • 7.1.13. US Department of Energy – Loan Guarantee Program

      • 7.1.14. Green Power Purchasing Goal

      • 7.1.15. Federal Initiatives for Solar Power

  • 8. SunShot Initiative, 2030

  • 9. Solar Funding

    • 9.1.1. Federal Initiatives for Wind Power

    • 9.1.2. Federal Initiatives for Biopower and Biofuels

  • 10. Energy Policy Act – Alternative Fuels

  • 11. Biorefinery Assistance Program

  • 11.1.1. DOE Funding for Renewables and Geothermal Energy

  • 11.1.2. Hydrogen Energy – DOE Hydrogen Program

  • 11.2. Common State-Level Incentives

  • 11.2.1. Overview

  • 11.2.2. Renewable Portfolio Standards

  • 11.2.3. Renewable Energy Certificates

  • 11.2.4. Public Benefit Funds for Renewable Energy

  • 11.2.5. Interconnection Standards

  • 11.2.6. Standard Interconnection Agreements for Wind Power Plants

  • 11.2.7. Net Metering

  • 11.2.8. Property Assessed Clean Energy (PACE)

  • 12. Wind Power Market, US, Company Profiles

  • 12.1. WEC Energy Group Inc

    • 12.1.1. WEC Energy Group Inc – Company Overview

    • 12.1.2. WEC Energy Group Inc – Business Description

    • 12.1.3. WEC Energy Group Inc – SWOT Analysis

    • 12.1.4. WEC Energy Group Inc – Major Products and Services

    • 12.1.5. WEC Energy Group Inc – Head Office

  • 12.2. The AES Corp

    • 12.2.1. The AES Corp – Company Overview

    • 12.2.2. The AES Corp – Business Description

    • 12.2.3. The AES Corp – SWOT Analysis

    • 12.2.4. The AES Corp – Major Products and Services

    • 12.2.5. The AES Corp – Head Office

  • 12.3. Santee Cooper

    • 12.3.1. Santee Cooper – Company Overview

    • 12.3.2. Santee Cooper – Business Description

    • 12.3.3. Santee Cooper – SWOT Analysis

    • 12.3.4. Santee Cooper – Major Products and Services

    • 12.3.5. Santee Cooper – Head Office

  • 12.4. PPL Corp

    • 12.4.1. PPL Corp – Company Overview

    • 12.4.2. PPL Corp – Business Description

    • 12.4.3. PPL Corp – SWOT Analysis

    • 12.4.4. PPL Corp – Major Products and Services

    • 12.4.5. PPL Corp – Head Office

  • 12.5. NRG Energy Inc

    • 12.5.1. NRG Energy Inc – Company Overview

    • 12.5.2. NRG Energy Inc – Business Description

    • 12.5.3. NRG Energy Inc – SWOT Analysis

    • 12.5.4. NRG Energy Inc – Major Products and Services

    • 12.5.5. NRG Energy Inc – Head Office

  • 13. Appendix

  • 13.1. Abbreviations

  • 13.2. Methodology

    • 13.2.1. Coverage

    • 13.2.2. Secondary Research

    • 13.2.3. Primary Research

    • 13.2.4. Modelling and Forecasting

  • 14. About GlobalData

  • 15. Contact Us

Table

List of Tables

Table 1: Carbon Dioxide Emissions from Energy Consumption, Global, 2015–2023

Table 2: Primary Energy Consumption, Global, 2015–2023

Table 3: Renewable Power Market, US, Cumulative Installed Capacity by Source (GW), 2015-2035

Table 4: Renewable Power Market, US, Cumulative Installed Capacity Share by Source (%), 2023 and 2035

Table 5: Renewable Power Market, US, Net Capacity Additions by Source (GW), 2024-2035

Table 6: Renewable Power Market, US, Capacity Growth by Source, 2023-2035

Table 7: Renewable Power Market, US, Power Generation by Source (TWh), 2015-2035

Table 8: Renewable Power Market, US, Growth in Power Generation by Source, 2023-2035

Table 9: Wind Power Market, US, Installed Capacity (GW), 2015-2035

Table 10: Wind Power Market, US, Cumulative Installed Capacity by Type (GW), 2015-2035

Table 11: Wind Power Market, US, Power Generation (TWh), 2015-2035

Table 12: Wind Power Market, US, Power Generation by Type (TWh), 2015-2035

Table 13: Wind Power Market, US, Market Size ($M), 2015-2030

Table 14: Wind Power Market, US, Major Active Plants – Offshore

Table 15: Wind Power Market, US, Major Active Plants – Onshore

Table 16: Wind Power Market, US, Snapshot of Upcoming Plants

Table 17: Wind Power Market, US, Key Under-construction Projects

Table 18: Wind Power Market, US, Deal Volume vs. Deal Value ($M), 2015–2023

Table 19: Wind Power Market, US, Deals by Type, 2023

Table 20: Wind Turbine Market, US, Annual Installed Capacity (GW), 2016-2028

Table 21: Wind Turbine Market, US, Market Size ($M), 2015-2028

Table 22: Renewable Energy Project Tax Components and changes with new tax code, US

Table 23: Renewable Energy Market, US, Investment Tax Credit

Table 24: Renewable Energy Market, US, Green Power Purchasing Goal (%), 2018–2025

Table 25: Renewable Energy Market, US, Sun shot Progress and Goals

Table 26: Renewable Energy Market, US, Renewable Portfolio Standards, State Targets

Table 27: WEC Energy Group Inc, Major Products and Services

Table 28: The AES Corp, Major Products and Services

Table 29: Santee Cooper, Major Products and Services

Table 30: PPL Corp, Major Products and Services

Table 31: NRG Energy Inc, Major Products and Services

Table 32: Abbreviations

Figures

List of Figures

Figure 1: Carbon Dioxide Emissions from Energy Consumption, Global, 2015–2023

Figure 2: Primary Energy Consumption, Global, 2015–2023

Figure 3: Renewable Power Market, US, Cumulative Installed Capacity by Source (GW), 2015-2035

Figure 4: Renewable Power Market, US, Cumulative Installed Capacity Share by Source (%), 2023 and 2035

Figure 5: Renewable Power Market, US, Net Capacity Additions by Source (GW), 2024-2035

Figure 6: Renewable Power Market, US, Capacity Growth by Source, 2023-2035

Figure 7: Renewable Power Market, US, Power Generation by Source (TWh), 2015-2035

Figure 8: Renewable Power Market, US, Growth in Power Generation by Source, 2023-2035

Figure 9: Wind Power Market, US, Installed Capacity (GW), 2015-2035

Figure 10: Wind Power Market, US, Cumulative Installed Capacity by Type (GW), 2015-2035

Figure 11: Wind Power Market, US, Power Generation (TWh), 2015-2035

Figure 12: Wind Power Market, US, Power Generation by Type (TWh), 2015-2035

Figure 13: Wind Power Market, US, Market Size ($M), 2015-2030

Figure 14: Wind Power Market, US, Snapshot of Upcoming Plants

Figure 15: Wind Power Market, US, Deal Volume vs. Deal Value ($M), 2015–2023

Figure 16: Wind Power Market, US, Split by Deal Type (%), 2023

Figure 17: Wind Turbine Market, US, Annual Installed Capacity (GW), 2015-2028

Figure 18: Wind Turbine Market, US, Market Size ($M), 2015-2028

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