Renewables are extremely cheap only because they produce power when it isn't needed and therefore is literally
worth nothing.
As for batteries, the biggest batteries in service now are 150MWh. If we want to power the world with renewable, we'll need TWh of batteries. We just don't know how to build something like that. We haven't got the technology (lithium isn't an option at these scales).
Renewables have an effect only as long as you have a steerable baseload of coal, gas or nuclear to actually feed the demand. They have a positive effect only as long as you haven't phased out all of your coal. As long as there is no coal burner left, they'll set a high limit on emissions. Unless, of course, we build as many nuclear plants as possible in the meanwhile instead of masses of gas firing plants (400g/CO2/KWh).
We could build batteries and much more solar and wind power plant instead, but even if we suppose a non-existent cheap battery technology, providing large scale power this way would be tremendously expensive (5 to 30 times more expensive than nuclear, depending upon the hypotheses).
Solar has an actual output of 15% its theoretical power. Wind is about 30% (onshore) to 40% (offshore). So to produce x GW of power, first you'll need x * 3 to x * 6 GW of installed capacity; second you'll need additional capacity and batteries to offset times of no wind or no sun. Figuring the price of several hundred GWh of battery storage is left as an exercise to the reader, but it can't be cheap. Plus the grid enhancements needed to transport the additional peak capacity from power plants to batteries, etc.