Wind Power
Industry Profile Report
Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters
Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.
Call Preparation Call Prep Questions, Industry Terms, and Weblinks.
Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.
Industry Profile Excerpts
Industry Overview
The 98 companies in the US use wind power to drive a turbine and produce electric energy, which is provided to electric power transmission systems or electric power distribution systems. Utility-scale turbines are generally defined as turbines that exceed 100KW in capacity, but typically range from 1.5 to 7.5MW. Wind energy accounts for about 10.2% of total US electricity generation and about 47.6% of electricity generation from renewable energy, according to the EIA.
“NIMBY” Opposition
Wind farms often face opposition from local residents concerned about noise, aesthetic impacts, and harm to bird populations.
Dependence on Government Support
The Inflation Reduction Act (IRA) was signed into law in 2022 and it extends tax credits for renewable energy projects for 10 years, which is expected to bring greater certainty to project planning instead of Congress needing to renew the credits every few years.
Industry size & Structure
The average wind electric power generator employs about 77 workers and generates about $82 million annually.
- The wind electric power generator industry consists of about 98 firms that employ about 7,600 workers and generate almost $8 billion annually.
- The industry is highly concentrated; the top eight companies account for 84% of industry revenue.
- Large firms include Clearway Energy, Energy Capital Partners, and Caithness Energy.
- Large owners of wind capacity include NextEra Energy, Berkshire Hathaway Energy, Avangrid, and EDP.
- Wind energy accounts for about 10.2% of total US electricity generation and about 47.6% of electricity generation from renewable energy, according to the EIA.
- More than 74,500 wind turbines operate across 44 states, Guam, and Puerto Rico and represent more than 149,400 megawatts (MW) of electricity generation capacity.
- Texas, Iowa, Oklahoma, Kansas, and Illinois produced about 59% of total U.S. wind electricity generation in 2023.
- Alta Wind Energy Center in California is the world’s third-largest wind farm generating 1,550 MW of electricity. The first US commercial, utility-scale offshore wind farm – South Fork Wind off the coast of Montauk, New York – came online in 2024.
Industry Forecast
Wind Power Industry Growth
Recent Developments
Mar 7, 2025 - Wind Industry Under Fire by Trump Administration
- Soon after taking office, President Trump signed several executive orders, including a pause on federal permitting for land-based and offshore wind projects, according to The Wall Street Journal. The administration’s moves have created uncertainty for future wind projects, although work is continuing for land- and ocean-based projects already underway. Offshore wind, which requires permitting in US-held waters, faces the most uncertainty. However, while most land-based wind development is on private property, projects may need permits from agencies ranging from the Army Corp of Engineers to the Bureau of Land Management, which creates opportunities for the executive branch to create friction. The offshore wind industry faced significant setbacks before Trump’s election, including inflation, supply chain headaches, and high interest rates.
- The state of the renewable energy sector and the fate of the Biden-era Inflation Reduction Act (IRA) were topics of discussion in late February at the American Council on Renewable Energy’s (ACORE) annual forum in late February, according to Utility Dive. Renewable energy tax credits under the IRA are expected to be a target for cuts as the Republican-led Congress drafts a new budget. However, some attendees of the ACORE conference suggested that the jobs and other economic benefits stemming from the IRA are being enjoyed in red states. ACORE’s President and CEO said he, like Trump, emphasizes bringing down energy costs for consumers and hopes to work with the administration on an all-of-the-above energy strategy, noting that solar and wind are currently the cheapest energy sources.
- As the Trump administration and its allies in Congress aim to repeal or pare back the green energy incentives in the Inflation Reduction Act (IRA), Republican congressional districts could have the most to lose, according to The New York Times. Since it was passed in 2022, private firms incentivized by the IRA have announced $165.8 billion in manufacturing investments to build solar panels, electric vehicles, wind turbines, and other products related to renewable energy, according to a report by research firm Atlas Public Policy. About 80% of that spending has occurred in Republican districts, creating a boon for jobs and economic activity. Soon after being sworn in, President Trump signed an executive order freezing funding for projects under the IRA and the bipartisan Infrastructure Investment and Jobs Act. Two federal judges ordered the Trump administration to unfreeze the funds, which Congress authorized. However, The New York Times reported that some agencies may still be blocking funding for some projects.
- According to Utility Dive, two recent reports suggest that repealing the tax incentives in the Inflation Reduction Act (IRA) would increase electricity prices. A report prepared by NERA Economic Consulting for the Clean Energy Buyers Association estimated that full repeal of the IRA’s investment and tax credits could increase the US average delivered electricity price by 10% by 2029. If the IRA’s incentives were to be clawed back, total power system generation costs could increase 14% by 2035, with most impacts felt by middle- and lower-income households, according to a separate report generated by The Brattle Group for ConservAmerica, a right-leaning environmental advocacy organization.
Get A Demo
Vertical IQ’s Industry Intelligence Platform
See for yourself why over 60,000 users trust Vertical IQ for their industry research and call preparation needs. Our easy-to-digest industry insights save call preparation time and help differentiate you from the competition.
Build valuable, lasting relationships by having smarter conversations -
check out Vertical IQ today.