The U.S. wind industry experienced a significant downturn in 2024, installing only 5.2 gigawatts (GW) of new capacity—the lowest in a decade, as reported by Wood Mackenzie’s latest US Wind Energy Monitor.
This decline highlights ongoing challenges in the sector, particularly due to restrictive policies instituted during the Trump administration that have hampered both onshore and offshore wind projects.
Looking toward 2025, there’s cautious optimism as projections indicate a rebound with more than 160 GW expected to be installed. However, the five-year growth outlook has been reduced by a staggering 40%, now estimating just 45.8 GW.
Wind Industry Faces Major Setback with Lowest Installations in a Decade
The downgrade can largely be attributed to Trump’s executive orders, which have restricted offshore leasing and complicated the permitting process for new wind farms on federal lands.
GE Vernova emerged as a leader in onshore installations for 2024, capturing 56% of the market share, followed by Vestas (40%) and Siemens Gamesa (4%). As of now, 10.8 GW are under construction, with an additional 3.9 GW announced for future development.
The offshore sector also looks to recover, with an increase in capacity projected for 2025, rising to 900 megawatts from a disappointing 101 MW in 2024.
Analysts suggest that while regulatory hurdles persist, the significant number of projects initiated in 2023 may bolster short-term forecasts. “The cliff in 2023 and 2024 created by the Production Tax Credit push in 2022 will come to an end,” remarked Stephen Maldonado of Wood Mackenzie, hinting at a pivotal moment for the industry.
Nonetheless, the path forward remains fraught with uncertainties due to lingering economic concerns and anti-wind policies that threaten to slow progress.