The shift from fossil fuels to renewable energy continues to gain momentum as global efforts to reduce greenhouse gas emissions intensify. Among various alternative energy sources, wind power stands out as a key driver of the clean energy transition. In the United States, land-based wind remains the most widely available clean power technology in 2024.
Wind power capacity in the United States has grown significantly over the years, rising from 2.4 gigawatts (GW) in 2000 to 154.6 GW in 2024. Per a report by International Energy Agency (IEA), wind power output increased 6.4% year over year in 2024, accounting for 10% of total U.S. utility-scale electricity generation. In March and April 2024, electricity generated from wind energy surpassed coal-fired generation for two consecutive months for the first time in U.S. history.
Wind energy is benefiting from multiple trends, including growing electricity demand driven by artificial intelligence (AI)-powered data centers, widespread adoption of electric vehicles (EV) and rapid urbanization. Per the latest Short-Term Energy Outlook published by the U.S. Energy Information Administration (EIA) in February 2025, wind generation in the United States is projected to increase 4.5% year over year in 2025, with 7.7 GW of wind generation capacity expected to be added to the U.S. grid this year.
According to a Skyquest report, the global wind energy market was valued at $95.55 billion in 2024 and is poised to reach $190.39 billion by 2032 at a CAGR of 9%. This reflects a solid growth opportunity for the U.S. wind market at present, which should boost the overall expansion of the alternative energy industry.
Leading wind energy companies like OGE Energy Corp. OGE, NextEra Energy, Inc. NEE, American Electric Power Company, Inc. AEP and DTE Energy Company DTE present compelling opportunities for investors, given their strong foothold in the market, research and development capabilities and market expansion. As clean energy technologies evolve, they are set to capitalize on growth opportunities and provide lucrative investment prospects. Our Wind Energy Screen helps identify stocks with high growth potential in this dynamic sector.
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OGE Energy is the largest electric utility in Oklahoma. The company has been investing steadily to expand its renewable generation assets. As of Dec. 31, 2024, the company owned the 120 megawatts (MW) Centennial, 101 MW OU Spirit and 228 MW Crossroads wind farms.
This Zacks Rank #2 (Buy) company offers the Renewable Energy Credit purchase program, the Green Power Wind Rider and the Utility Solar Program, which are rate options that make renewable energy resources available as a voluntary option to all OG&E (wholly-owned subsidiary of OGE Energy) Oklahoma retail customers. OG&E aims to continue to deploy more renewable energy sources that do not emit greenhouse gases. Such initiatives should further boost OGE Energy’s renewable energy portfolio.
To further promote clean energy, the company has also been focused on reducing its carbon emission load. To this end, OG&E's current business strategy has reduced carbon dioxide emissions by more than 60% compared with the 2005 levels. Emissions of ozone-forming nitrogen oxide have been reduced by approximately 80% and that of sulfur dioxide by around 95%.
NextEra Energy is a public utility holding company engaged in the generation, transmission, distribution and sale of electric energy. The company’s competitive energy business NextEra Energy Resources LLC (“NEER”) is the world’s leading generator of renewable energy from wind, based on 2024 MWh produced on a net generation basis.
NEER successfully added 1,365 MW of new wind generating capacity and 755 MW of battery storage capacity in 2024, thereby increasing its backlog of contracted renewable development projects. As of Dec. 31, 2024, the business operated wind facilities in 23 U.S. states and four provinces in Canada, carrying a total generating capacity of approximately 26,335 MW.
To further expand its renewable portfolio, NEER plans to add a significant clean power generation asset across the United States over the 2024–2027-time frame. This Zacks Rank #3 (Hold) company’s major capital projects continue to proceed as per plan and the addition of new renewable projects continues to boost its renewable portfolio.
American Electric Power Company has been investing steadily to enhance its renewable generation portfolio. Exiting 2024, wind, hydro and solar energy represented 21% of American Electric’s generating capacity compared with 4% in 2005. Such initiatives are projected to expand the company’s footprint in the global clean energy space.
In December 2024, AEP’s subsidiary, Southwestern Electric Power Company, completed the acquisition of 100% of the equity interests in Diversion Wind Energy, LLC, the owner of Diversion wind farm. The 201 MW wind facility is based in Baylor County, TX and commenced operational service in December 2024.
As of Sept. 30, 2024, this Zacks Rank #3 company received regulatory approvals from various state regulatory commissions to acquire approximately 2,505 MWs of owned renewable generation facilities for roughly $6 billion, in addition to 792 MWs of renewable purchase power agreements. Such strategies should boost American Electric’s renewable generation portfolio.
DTE Energy has been investing steadily to enhance its renewable generation assets. The company aims to invest more than $11 billion in clean energy transition over the next 10 years. Through this solid investment, DTE Energy aims to add 1,000 megawatts (MW) of new wind and solar energy annually, powering approximately 5.5 million homes with renewable energy by 2042.
To promote clean energy, DTE has its MIGreen Power program, through which DTE Electric offers its customers the option to voluntarily source their energy usage from renewables. This program aims to substantially accelerate the development of new wind and solar projects across Michigan.
By 2026, DTE Energy aims to add more than 1,000 MW of new clean energy projects to meet this program’s demand. Such clean energy-related initiatives should enable DTE Energy to meet its carbon emission reduction target. Notably, this Zacks Rank #3 company plans to reduce carbon emissions of its electric utility operations by 65% in 2028, 85% in 2032 and 90% within 2040 from the 2005 levels.
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NextEra Energy, Inc. (NEE) : Free Stock Analysis Report
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