Yes, it is happening already (both the pivot away from unprofitable non-renewable energy, and US government intervention to tax imports of photovoltaics).

Levelized Cost of Electricity (LCE) from PV is below the fossil fuel range since 2020, and since 2024 it is also below if you include battery storage, which you need to turn solar into near constant energy supply.

https://www.irena.org/Publications/2024/Sep/Renewable-Power-...

https://electrek.co/2025/06/20/batteries-are-so-cheap-now-so...