— Decarbonisin the first ”0–Ÿ0 per cent of power s­stems is ly t alread­ potentiall­ cheaper than fossil fuel eneration‚& s o — s c e i s n ‹n some locations total costs for new wind and solar p o p s e installations are now lower than marinal costs of conen„ r tional power plants seriousl­ challenin the profit „ abilit­ of fossil fuel electricit­ eneration‚ • Žull cost anal­sis reuires adšustin these costs for all externalities ›deaths from air pollution caused b­ fossil fuels rid balancin for renewables damaes from climate chaneœ which will ar­ b­ location and electricit­ s­stem‚ Œrid balancin costs are expected to increase as use of renewables increases‚ — £are inestments are needed across the wider econom­ — not šust in the power sector — in low„carbon infrastructure which is expensie if forced as a retrofit‚ Howeer the oerall cost of new low„carbon infrastructure is rouhl­ the same as that of new hih„carbon infrastructure‚* — …he costs of decarbonisin durin the recession induced b­ the Coid„1ž pandemic ma­ be een lower ien reater unused capacit­ in the econom­‚ Central banƒ and finance ministr­ officials see such action as desirable and a reen recoer­ miht achiee economic obšecties — includin šob creation — more successfull­‚( — Estimates of the costs of decarbonizin the entire econom­ remain preliminar­‚ Some sectors — such as lon„term ener­ storae industrial heat aiation — reuire techno„ loical and cost adances before costs are liƒel­ to be low enouh to be politicall­ feasible‚ • Žor instance a complete retrofit of a domestic house in the ‡nited §indom is currentl­ unliƒel­ to ­ield an economic return on ener­ sains alone without oernment subsid­ or reulator­ interention‚ ¡ Žinƒelstein et al 2020 — “ew Climate Econom­ 201Ÿ ž Hepburn et al‚ 2020 ‘ž