The global market for wind energy has increased exponentially in the past few decades, and there is a continuous effort to develop cost-effective materials with higher strength to mass ratio for wind blades. With unique structural and transport properties, carbon nanotubes (CNTs) have attracted much interest as the reinforcement to develop polymer-based nanocomposites delivering exceptional mechanical properties and multi-functional characteristics. In light of previous and current status in carbon-based materials, herein the suitabilities of CNT/polymer nanocomposites for wind blade materials are analyzed. Special emphasis is placed on the mechanical, fatigue, electrical, thermal and barrier properties of CNT/polymer nanocomposites, which are important considerations when selecting suitable materials for wind blades with larger rotary radius. The application of CNT/polymer nanocomposites as sensory materials for the monitoring of defects in composite structures is also discussed. Finally, based on the progress made so far, some suggestions paving the way for the large commercialization of these nanocomposites for wind blades are presented.