On August 24, 2023, the Department of Energy (DOE) released three annual wind reports—Land-Based Wind Market Report, Offshore Wind Market Report, and Distributed Wind Market Report—showing that wind power is one of the fastest-growing and lowest-cost sources of electricity in the U.S. and is poised for rapid growth.[1] The reports found that wind power accounted for 22% of new electricity capacity installed in 2022, second only to solar energy. Since the passage of the Inflation Reduction Act (IRA) in August 2022, forecasts for land-based wind energy installed in 2026 have increased nearly 60% from about 11,500 MW to 18,000 MW. In addition, there have been at least eleven announcements of manufacturing facilities that plan to open, re-open, or expand to serve the land-based wind industry. The advanced manufacturing production tax credit in the IRA is estimated to reduce the cost of offshore wind blades by 27% and steel towers by 18%.

[1] https://www.energy.gov/articles/us-department-energy-projects-strong-growth-us-wind-power-sector