Over the last 20 years, solar PV costs have steadily declined by about 16%/year, wind by 6%/year, and batteries much more than that. Those trends cannot continue forever, but they don’t have to continue very many more years before renewables plus storage is the hands down cheapest option.
That trend has stalled out, and is expected to remain stalled out for at least the next two years:
https://cleanenergynews.ihsmarkit.com/research-analysis/grid…
Costs don’t always fall with increased production. In fact, under basic economic theory marginal costs should generally rise as you try to produce more, at least in the near term. We see that with battery materials right now - as more and more automakers (and consumers) are demanding batteries in their cars, the prices for those materials (and then ultimately the cars) are rising. That’s a big part of why the cost of electric cars hasn’t fallen appreciably, and has indeed increased somewhat, even though we’re producing a few million more EV’s now than we did two years ago. And grid storage providers have to compete with auto makers for these resources.
It might not be possible for both massive electrification of the automobile industry and conversion of electrical storage from predominantly pumped hydro/thermal storage to battery storage to happen at the same time.
Albaby