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According to Wood Mackenzie’s U.S. Wind Energy Monitor report, the U.S. wind market saw a continued decline in 2024, recording just 5.2 gigawatts (GW) of total installations—the lowest in a decade. This included 3.9 GW of new onshore capacity, 1.3 GW from onshore repowering projects, and 101 megawatts (MW) of new offshore installations.
Onshore activity
Despite hitting the lowest installation mark since 2013 in 2024, the US is set to surpass 160 GW of cumulative installed onshore capacity by 2025. Onshore growth is projected to bounce back from 2024 and surpass 6.3 GW this year.
Stephen Maldonado, research analyst at Wood Mackenzie, noted that the decline in 2023 and 2024, driven by the Production Tax Credit (PTC) surge in 2022, is expected to subside. He added that despite uncertainties surrounding the new administration, the substantial volume of orders placed in 2023—now resulting in active construction—supports a positive short-term outlook for the wind market.
The pipeline for onshore has 10.8 GW currently under construction through 2027, with another 3.9 GW announced.
GE Vernova led onshore wind installations in 2024, with 56% of the market and will continue to lead in connections for the next five years. It was followed by Vestas (40%) and Siemens Gamesa (4%).
Offshore activity
The offshore market is projected to increase in 2025 as well, with 900 MW of installed capacity, up from merely 101 MW in 2024. However, several projects have been shelved in the wake of recent Executive Orders, downgrading the five-year outlook by 1.8 GW.
Growth to rebound from 2024 levels, but five-year outlook downgraded 40%
According to the report, 33 GW of new onshore capacity will be installed through 2029, along with 6.6 GW of new offshore capacity and 5.5 GW of repowers. However, due to US policy changes and economic uncertainty, this five-year outlook of gross additions has dropped from a previous total of 75.8 GW, a decrease of 40%.
The main driver has been multiple Executive Orders, which include a temporary withdrawal of offshore wind leasing areas and a halt to onshore projects on federal lands. Additionally, the initiative to reduce civilian federal employees could constrain resources that are required for permitting procedures related to the development of a wind project. These developments create a complex landscape for wind energy stakeholders.
Maldonado added that although a partial market rebound is anticipated, continued uncertainty surrounding future U.S. wind policy and prevailing economic pressures are expected to limit near-term growth compared to earlier projections, despite ongoing demand for power. He noted that while projects currently under construction are likely to reach completion, newly announced projects may encounter increased challenges as developers reevaluate their strategies and financial viability.
