Comment I've been saying for years (Score 1) 318
that LCOE (Levelized Cost of Energy) is only one side of the equation. Solar has had a low LCOE for several years now, but if you're a business running a solar farm, LCOE isn't what you care about -- profit is what you care about! Profit depends on the cost of solar panels, but it depends just as much on the value of the electricity you are selling to the grid. If the price tends to be near zero (or heaven forbid, negative), profit is dead and the power plant is not worth building.
Wind and solar are the cheapest ways to add capacity to your grid, but they only makes economic sense as long as the instantaneous price of the electricity remains reasonably high. Eight years ago the value proposition looked good because solar wasn't competing too much with other solar, and wind wasn't competing too much with other wind. There are alternative measures that incorporate both cost and value -- see here.
Batteries can restore profitability by timeshifting the electricity sale, but they typically cost well over $100/kWh. They're worth the cost if you can charge and discharge them roughly once a day or more (which can be certainly done if there aren't enough batteries, as in California), but they are not economical for long-term storage and never will be.
We need another solution to reach net zero. For the last 50 years, nuclear could've been that solution, but boy do some people hate it. Nowadays there's another possibility, Enhanced Geothermal Systems, and it looks pretty good. But I still think Molten Salt Reactors are a great design category and we should build them.