A new analysis by the International Energy Agency examines the feasibility of achieving the goal of 35 percent electrification of the world by 2035. This goal, known as "35 by 35," is presented as a key platform for the COP31 climate conference to be held from November 9 to 20, 2026, in Antalya, Turkey.
Impact of the Energy Crisis on Electrification
Analyses indicate that the energy crisis resulting from the United States and Israel's war in Iran may assist in achieving this goal. Given the prolonged closure of the Strait of Hormuz and severe fluctuations in oil and gas markets, experts believe this goal is attainable. According to this report, electricity could reasonably supply 33 percent of the world's final energy consumption by 2035. Currently, electricity only accounts for 23 percent of this consumption.
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Demand Growth and New Opportunities
This significant increase in the share of electricity in energy consumption occurs while demand for electricity has outpaced overall energy demand by twofold. Forecasts suggest that this demand will grow by more than 3 percent annually between 2015 and 2025. The International Energy Agency's report indicates that as the world enters the electricity era, this transition could bring major benefits for economic competitiveness, energy security, and energy transitions.
In this context, estimates based on electricity prices before the war indicate that global leaders expect current prices to decrease. This analysis was conducted at the request of Turkey and Australia in preparation for the COP31 conference, and its findings will serve as the basis for proposed pledges to achieve the 35 percent electrification goal by 2035.
Analyses also show that developing countries, including Brazil, Chile, El Salvador, Morocco, Kenya, and Namibia, are leading the transition to clean energy, aiming to achieve 63 percent of their electricity generation from solar sources by the end of 2025. This situation indicates that developing countries are outpacing the United States in the clean energy transition.
Ultimately, the International Energy Agency has estimated that if countries significantly increase the pace of electrification, they could save over $400 billion by 2035. These measures could also help prevent the worst effects of climate change.
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