A report from Ernst & Young (EY) shows that despite inflationary pressures, solar remains the cheapest source of new-build electricity. The global weighted average levelized cost of electricity (LCOE) for PV is now 29% lower than the cheapest fossil fuel alternative.
No, no storage, but you can calculate LCOE with storage, and that is pretty close too, problem is scaling it up, we don’t have enough mining capacity to scale it up to replace fossil fuels entirely, either we find multiple types of batteries so we can distribute load away from lithium nickle and cobalt, or we start to scale nuclear, those are our options.
Actually large grids are another option as well and a really good one. Basically it is always sunny or windy somewhere and when you can transport the electricity you avoid storage. Also there are other types of none battery storage like hydro from reservoirs and pumped, chemical storage with hydrogen or something similar and well stuff like biomass.
It really starts to scale nicely with a bit of overcapacity, a bit of storage, a good grid and a lot of different types of renewables placed over a large area.