When it comes to renewables and EVs more than economic factors are at play, geopolitical ones are big factors too. All countries want energy independence and security, particularly those that spend a lot of money on imported petroleum for electricity generation and light transportation, agriculture too with electric tractors and solar going a long way to electrify the farms of the nation. The closer to the equator they are the more sense it makes, the less storage they need and the lower the costs. The cheaper batteries get, the more feasible renewables become and wind and solar are the cheapest forms of power generation but are variable and that is where grid scale batteries of several kinds can help from iron air to several flow types. Regular lithium and sodium-based batteries will be used too, both for the grid and home energy storage and make renewables generate 100% of the power needs of most countries, they will probably still keep some gas turbine generators to charge batteries, just in case.
Solar, batteries and EVs are now intertwined with national and economic security and will be more so in the future. There have been several studies and reports that show we can do it with renewables in most places and come close in the rest. Heat pumps take care of heating and cooling while EVs will provide the cars and farm tractors among other things. Very little imported oil and gasoline for most places maybe 90% less for some countries and eventually most. For most national governments it is a very attractive proposition energy security and insulation from volatile swings in price caused by wars and other bullshit. Saving billions in annual costs just to keep the lights on and the cars and trucks on the road, money that can be spent on other things, like paying off the new grid. Cheap Chinese EVs will have a big impact on small countries, though India wants in on the battery and EV business too and has 100% tariffs on imported cars. They will be buying those $5,000 EVs and snapping them up in developing countries that are going renewables, even with micro independent grids.
It's not just the rich and middle countries that this technology will impact the most, one or two solar panels on the roof and a small home battery can do a lot for people in poor villages, as can a community microgrid as aid projects that are sustainable for the people using the technology. Just a small system can provide lights at night, TV and internet and power for cooking during the day, maybe even a small fridge. It's not much but it's how lives start to be improved and over years they will have more power and better house and more of the things we enjoy or take for granted and live better because of it with many more options. To make a more sustainable world we will need to make it a richer world for those who have the least. In 10 years, some billionaire with a heart might buy a lot of such small systems for not too much cash and start passing them out, as will aid agencies. A few super cheap solar panels and a small cheap home battery with power sockets might be a pretty low cost, high value aid item in a decade or less. We send enough computers to Africa every year as scrap for everybody on the continent to have one, but new tablets will be dirt cheap too, if mass produced for schools, in lieu of textbooks and able to do video for remote learning etc.