NAICS 221115 Quarterly Industry Report
Wind Electric Power Generation
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 221115Sector: Utilities (22)Updated: Q1 2026
About This Report
This industry profile for Wind Electric Power Generation (NAICS 221115) draws on data from the Bureau of Labor Statistics[5], U.S. Census Bureau, and SBA size standards database[6]. Published by Fair Market Value and updated quarterly, it provides valuation professionals, renewable energy analysts, and business brokers with current market data. The editorial analysis reflects the independent assessment of FairMarketValue.com's research team, with all quantitative claims sourced to publicly verifiable databases.
Industry Definition & Overview
Wind Electric Power Generation (NAICS 221115) encompasses establishments primarily engaged in operating wind electric power generation facilities that use wind turbines to produce electric energy per the U.S. Census Bureau[4]. Generated electricity is delivered to bulk power transmission systems or distribution networks. This classification covers onshore wind farms, offshore wind installations, and merchant wind generators selling into organized wholesale power markets.
NextEra Energy operates the world's largest wind portfolio across North America, while GE Vernova holds 56 percent of the U.S. onshore turbine market and Vestas holds approximately 40 percent per the Bureau of Labor Statistics[5]. Total U.S. wind capacity reached 154.8 gigawatts by end of 2024, generating 451.9 terawatt-hours and providing 10.5 percent of national electricity. Texas, Iowa, Oklahoma, and Kansas lead in installed wind capacity, with the central Great Plains corridor offering consistently high wind resources. Offshore wind development has progressed slowly, with the 800-megawatt Vineyard Wind project off Massachusetts representing the first large commercial installation.
Per the SBA Table of Size Standards[6], the size standard is 1,150 employees. Federal Production Tax Credits (PTC) provide 2.6 cents per kilowatt-hour for the first ten years of operation, with the Inflation Reduction Act extending support through 2024 before transitioning to the Clean Electricity Production Tax Credit. New capacity additions slowed to roughly 4.1 gigawatts in 2024, the lowest in a decade, reflecting interconnection queue delays, equipment shortages, and higher financing costs. Wind generation surpassed coal-fired output during several months in 2024, marking a shift in the U.S. electricity generation mix.
What's Included in This Industry
- Onshore wind farm operations and management
- Offshore wind power generation
- Wind turbine maintenance and repair
- Nacelle and gearbox servicing
- Blade inspection and replacement
- Substation and collection system operation
- Power purchase agreement administration
- Grid interconnection and curtailment management
- Wind resource monitoring and production forecasting
- Environmental compliance and wildlife monitoring
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Utilities | 22 |
| Subsector | Utilities | 221 |
| Industry Group | Electric Power Generation, Transmission and Distribution | 2211 |
| NAICS Industry | Electric Power Generation | 22111 |
| National Industry | Wind Electric Power Generation | 221115 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 221121 | Electric Bulk Power Transmission and Control | Electric Bulk Power Transmission carries wind farm output across long-distance high-voltage lines from rural generation sites to urban demand centers where electricity is consumed |
| 221122 | Electric Power Distribution | Electric Power Distribution receives wind-generated electricity from transmission networks and delivers it to residential, commercial, and industrial customers through local grid infrastructure |
| 221114 | Solar Electric Power Generation | Solar Electric Power Generation competes with wind for renewable energy procurement contracts and shares grid integration challenges including intermittency and interconnection queue backlogs |
| 237130 | Power and Communication Line and Related Structures Construction | Power and Communication Line Construction builds transmission lines connecting remote wind farms to grid substations, with new line construction often the bottleneck for bringing wind capacity online |
| 333611 | Turbine and Turbine Generator Set Units Manufacturing | Turbine and Turbine Generator Set Units Manufacturing produces the nacelle, gearbox, and generator assemblies installed in wind turbines, representing core equipment in the wind generation supply chain |
| 541330 | Engineering Services | Engineering Services design wind farm layouts, foundation systems, collection substations, and transmission interconnections during project development and construction phases |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | Texas | 15.1% | 93 |
| 2 | California | 8.6% | 53 |
| 3 | Oklahoma | 5.8% | 36 |
| 4 | Florida | 5.0% | 31 |
| 5 | Illinois | 5.0% | 31 |
| 6 | Minnesota | 4.9% | 30 |
| 7 | Iowa | 4.7% | 29 |
| 8 | New York | 3.9% | 24 |
| 9 | Oregon | 3.7% | 23 |
| 10 | Pennsylvania | 3.6% | 22 |
% Of Establishments
0%
15%
Source: County Business Patterns, U.S. Census Bureau[3]
Frequently Asked Questions
Common questions about this industry.
What companies dominate wind power generation?
NextEra Energy operates the largest wind portfolio in North America. GE Vernova holds 56 percent and Vestas 40 percent of the U.S. onshore turbine market per the U.S. Census Bureau[4]. Utility-owned and independent power producer wind farms operate across more than 40 states.
How much electricity does wind generate?
Wind produced 451.9 terawatt-hours in 2024, providing 10.5 percent of total U.S. electricity per the Bureau of Labor Statistics[5]. Total installed capacity reached 154.8 gigawatts, with Texas, Iowa, Oklahoma, and Kansas leading in installed capacity.
What is the SBA size standard for Wind Power Generation?
Per the SBA Table of Size Standards[6], NAICS 221115 has a size standard of 1,150 employees. This determines eligibility for SBA loans, federal contracting set-asides, and small business programs.
What NAICS codes are related to wind power?
Related codes include NAICS 221121 (Transmission), NAICS 221122 (Distribution), NAICS 221114 (Solar), NAICS 237130 (Power Line Construction), and NAICS 333611 (Turbine Manufacturing) per the U.S. Census Bureau[4].
What tax incentives support wind generation?
Federal Production Tax Credits provide 2.6 cents per kilowatt-hour for the first ten years of operation. The Inflation Reduction Act extended this support before transitioning to the Clean Electricity Production Tax Credit starting in 2025.
What activities are included in NAICS 221115?
Core activities include onshore and offshore wind operations, turbine maintenance, nacelle servicing, blade inspection, substation operation, PPA administration, grid interconnection, wind resource monitoring, and wildlife compliance per the U.S. Census Bureau[4].
Can wind power businesses get SBA loans?
Yes, firms meeting the 1,150-employee standard qualify for SBA 7(a) loans[7] covering maintenance equipment, facility upgrades, and working capital. Long-term PPAs provide revenue predictability that supports SBA loan applications.
What is slowing wind capacity growth?
Interconnection queue backlogs, equipment delivery delays, higher interest rates, and turbine supply shortages slowed new capacity to 4.1 gigawatts in 2024 per the Bureau of Labor Statistics[5]. This represented the lowest annual additions in a decade despite strong long-term demand.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Census Bureau census.gov
- [5]Bureau of Labor Statistics bls.gov
- [6]SBA Table of Size Standards sba.gov
- [7]SBA 7(a) loans sba.gov
- [8]504/CDC loans sba.gov
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