This week, the US Department of Energy released a report that looks back on the state of wind power in the US by running the numbers on 2018. The analysis shows that wind hardware prices are dropping, even as new turbine designs are increasing the typical power generated by each turbine. As a result, recent wind farms have gotten so cheap that you can build and operate them for less than the expected cost of buying fuel for an equivalent natural gas plant.
Wind is even cheaper at the moment because of a tax credit given to renewable energy generation. But that credit is in the process of fading out, leading to long term uncertainty in a power market where demand is generally stable or dropping.
A lot of GigaWatts
2018 saw about 7.6 GigaWatts of new wind capacity added to the grid, accounting for just over 20 percent of the US' capacity additions. This puts it in third place behind natural gas and solar power. That's less impressive than it might sound, however, given that things like coal and nuclear are essentially at a standstill. Because the best winds aren't evenly distributed in the US, there are areas, like parts of the Great Plains, where wind installations were more than half of the new power capacity installed.