Because there are multiple decades' worth of investment in fossil fuel assets that need replacing, and renewables started competing on price alone (ignoring glo

Because there are multiple decades' worth of investment in fossil fuel assets that need replacing, and renewables started competing on price alone (ignoring global warming externalities) in just the past few years. That's also why Germans pay eye watering prices for renewable electricity; Germany installed renewables on a large scale before the costs came down.