If solar/wind + batteries is cheaper than coal, why are new fossil fueled plants being built at a speed of about 10x capacity for every watt of renewable energy

If solar/wind + batteries is cheaper than coal, why are new fossil fueled plants being built at a speed of about 10x capacity for every watt of renewable energy? Are people just bad at investments? If I was an investor and I would choose something that has lower cost and higher profits, especially if it also favored political. Lower costs and higher profits are pretty nice. Choosing something that cost more and has less profits sounds terrible.