Electricity is a fungible resource and most of it is generated from fossil fuels. The price of natural gas is way up, so electricity prices generally are up. Not to mention, hydroelectric production is down in some places (Hoover dam for instance), some nuclear plants are running below capacity because rivers are too low and/or too warm (France) and there's a major land war in Europe right now.
It's also possible that some investments in renewables will take time to pay off, like any investment in new infrastructure. I'd expect the same thing if some area built a brand new coal plant. (Ideally these costs are buffered out by some kind of financial instrument so rate-payers don't get hit by it all at once.)
Solar power is actually quite cheap. Storage can be cheap or expensive depending on whether it's done with pumped hydro (where geography allows) or chemical batteries.