Are Renewables Really Cheaper Than Fossil Fuels for Electricity Generation?

As is the case with so many things, it depends on how you ask the question, and what you mean by "cheaper?" The Levelized Cost of Energy (LCOE) is often used to compare the costs of different generation resources, and to show the renewables are in fact the cheapest generation resource. But it turns out that LCOE is pretty misleading when it comes to the bigger picture of what actually gets added to the grid.