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> I think you've missed that all generators have upfront cost.

Why do you say this?

Because you said it's the cheapest by far but didn't say "after X years". Did I miss where you acknowledged there's a crossover point in cost?
Typically power is priced by Levelized Cost of Electricity (LCOE) where you amortize the total cost of ownership across the total power generated to get a per kwh cost which is what most grid operators care about. After all, large scale investors and governments don't care if a plant costs a billion dollars if it produces 20 billion in electricity.

https://en.wikipedia.org/wiki/Levelized_cost_of_electricity

What you are talking about is the Payback Period (PP) or Return on Investment (ROI) which is more important to homeowners adding a solar plant to their homes.

Both of these types of measure take into account both capital and operating expenses.

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