The cost of solar and wind is becoming so attractive, it’s hard to see why anyone would do otherwise.
The elephant in the room (at least for the US; I’m not as familiar with UK policies) are the subsidies. It sparks new investments because many of the incentives are specifically related to new projects. Other ones mess with the valuation of the equipment, making long term tax burden much lower. It’s not the only energy industry to receive subsidies. But it’s pretty asinine to continue to support the one that’s destroying our world.
“In one case, it’s going to profit, amplifying the incumbent status of the oil and gas industry. In another, under more aggressive decarbonization policy and low oil and gas prices, it’s actively working against the climate goal by spurring additional production.”