Renewable is sun power to solar panels so that you do not need to use a nonrenewable energy source like coal to heat and power your home, school, etc..
The financial impact is that the coal takes extraction from the earth, use of labor, transportation to power plants, who burn the coal to give you electricity. The issue is that one once you buy the solar panels 8k to 40k you are not using anything but collection method and can sell extra power to the power companies for other user.
In the case of coal you have land costs, personnel cost (pay), benefits (medical and retirement) and then add on transportation to the customer. Finally, the biggest impact is the environmental issues caused by the extraction methods used, transportation method (trains), and the damage to the air (atmosphere) can not be fixed, so you end up breathing it.
The coal is not renewable because we aren't making dinosaurs to die any more and convert into coal or petroleum.