Like other forms of renewable power, the wind industry is showing signs it is strong and positioned for more growth.

According to a report released by the Lawrence Berkeley National Laboratory, 2023 was a relatively slow year for new wind power deployments. However, other indicators are healthy and point to future growth.

Published in August 2024, the Land-Based Wind Market Report provides an updated overview of U.S. data and trends in the sector in 2023. The report highlights several aspects of the industry. Despite a relatively slow year for deployment of new wind power generation, technological advancements, performance and prices all suggest more growth in the years ahead.

The report notes, for example, that wind comprises a significant share of the nation’s electricity supply, contributing 10%, but much higher in several states such as Iowa and South Dakota, where it represents 59% and 55% of the states’ total generation, respectively.

The report notes that a total of 150 gigawatts (GW) of wind was installed in the United States at the end of last year, and a record-high 366 GW of wind is seeking transmission interconnection.

The industry is also poised to become increasingly productive as turbines and towers continue to grow. The report notes that wind turbines continue to get larger, which has driven improved plant performance over the last decade. For example, in 2013 no turbines employed rotors that were 115 meters in diameter or larger, but 98% of newly installed turbines featured rotors this size in 2023.

Finally, pricing patterns are supportive of the market for wind power purchases. The report notes that wind energy prices remain attractive for purchasers despite recent increases. Wind power purchase agreement prices recently ranged from below $20/megawatt-hour (MWh) to more than $40/MWh, depending on region and other details. These prices are competitive with recent solar sales prices and to the projected future fuel costs of gas-fired generation.

The report notes that energy analysts project a resurgence of wind deployment in the years ahead, growing to an average over 15 GW per year from 2026 through 2028.