[ChemSpider]

That is not correct. Once the energy cost goes below a certain level, it simply is no longer important compared to other factors like human resources, tax, infrastructure,... .

Example: If the kWh/h costs 2 cent in Germany and only 1 cent in country X, that 100% difference would not matter, even for the most energy hungry industries.

[pfdietz]

Renewable energy has to get cheaper than it currently is before it becomes less of an economic input than fossil fuels currently are, for many industrial processes. For example, in production of iron renewable energy is competing against the raw chemical energy of coke.