Last year, the wind power industry grew 8 percent in terms of capacity in the U.S. and an estimated 35,000 megawatts of additional capacity is projected for the near future. Is it time to invest or is chasing the wind a passing trend?

This country holds the second largest installed wind power capacity in the world, after China. Currently, wind energy provides 6.5 percent of all the electricity delivered to U.S. consumers. The 2023 Forecast for the Wind Turbine Nacelle Market explained key trends driving growth include the high demand for affordable energy. Wind energy is one of the most affordable forms of electricity, with the average cost of wind power going down by more than 60% during 2012-2017. Also, wind power companies like Nordex USA and Siemens Gamesa have their manufacturing and assembly plants here in the U.S., making partnerships and construction projects profitable for utility companies across the nation.

The American Wind Energy Association had this to say about the recent growth, “Improving project economics and robust state policies led to a surge in offshore wind activity in 2018.” The group continued that the additional capacity projected would come from new projects, in 31 states, that would generate enough installed wind capacity to power 42 million American homes. States already committed to wind energy include Texas, Kansas, Iowa, Oklahoma, North Dakota, South Dakota and Maine. Hoping to be closer to their customers, Siemens Energy opened a wind turbine nacelle assembly facility in Kansas in 2010. Now, almost a decade later, the move has been beneficial for wind production in Kansas. The American Wind Energy Association's 2018 Annual Market report shows Kansas passing Iowa to claim the number one spot in wind energy production. In fact, 36.4% of the state's total electricity was produced by wind power in 2018. Texas, on the other hand, accounts for about a quarter of total wind power capacity and has partnered with 38 companies like AT&T, Walmart and Exxon Mobil Corp., who have purchased or committed to buying 4,900 megawats (MW) of wind energy in the state. With numbers like these, it's safe to say the wind power industry will continue to grow and as a result, wind turbine nacelle demand will continue to rise.