A well-conditioned coupled set of surface (S) and volume (V) electric field integral equations (S-EFIE and V-EFIE) for analyzing wave interactions with densely discretized composite structures is presented. Whereas the V-EFIE operator is well-posed even when applied to densely discretized volumes, a classically formulated S-EFIE operator is ill-posed when applied to densely discretized surfaces. This renders the discretized coupled S-EFIE and V-EFIE system ill-conditioned, and its iterative solution inefficient or even impossible. The proposed scheme regularizes the coupled set of S-EFIE and V-EFIE using a Calderón multiplicative preconditioner (CMP)-based technique. The resulting scheme enables the efficient analysis of electromagnetic interactions with composite structures containing fine/subwavelength geometric features. Numerical examples demonstrate the efficiency of the proposed scheme.