It already outcompetes it almost everywhere, yet fossil fuel exploitation is continuing to grow. Why? Because FFs are non-competitive but highly profitable, while renewables are highly competitive but with very low profit margins. So FFs use political pressure to beat the market.
FFs do indeed use political pressure to beat the market, and FF political influence is *the* obstacle to RE. Investment in RE and electric transport still beats this, by removing the demand for FFs. It would go faster and cheaper, with fewer stranded assets, if FF were not so politically powerful.