A lot of the discussions about switching sources of electricity focus on costs, specifically whether going renewable will cost more than fossil fuels. But the costs of fossil fuels go well beyond simply the costs of supplying the fuel. Fossil fuels create costs by harming human health and the environment—these costs aren’t priced into electricity produced. Instead, they wind up being paid by society at large—and that’s before pricing in the inevitable costs of climate change.
In fact, in the United States, the rationale for Obama-era climate rules included the idea that the regulations would save money by avoiding these costs. That claim was controversial, however, and the Trump administration’s rollback of these rules also claimed to provide economic benefits