# The electrification of the global economy is here, but big bottlenecks remain

By [Brandon Donnelly](https://paragraph.com/@brandondonnelly), 2026-11-11

environment, china, cop31, development, electricity, electrification, housing, rental housing, solar panels, toronto

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The 31st UN Climate Change Conference (also known as COP31) is currently underway in Turkey. And one of the pledges being championed is a goal to increase electricity’s share of global energy consumption from about 23% to 35% by 2035 (the tagline is “35 by 35”).

Of course, the electrification of the global economy is already underway. Here’s a fascinating chart from [Bloomberg](https://www.bloomberg.com/canada):

![](https://storage.googleapis.com/papyrus_images/bd80641f1cb7ea0c85db150ba19fa9af61829d4f5a365914f90b7266d5a58e8d.png)

Seeing what China has accomplished in 25 years is extraordinary. About a third of its total energy consumption is now electricity. Here in Toronto, I can also say that on all of our new infill rental projects, we are aiming to be 100% electric and have solar panels on the roof. We’ve also been exploring photovoltaic facades, and there’s a business case to be made for it.

But the rubber does eventually meet the road somewhere, and the big challenge we are facing — one that I have [blogged](https://brandondonnelly.com/housing-delivery-is-a-many-things-problem/) about before — is the high cost of new electrical services. It can be prohibitive on both small and large housing projects, where offers to connect can come with a bill that reaches into the high seven figures!

The electrification of the global economy is the right direction, but it’s going to take a concerted effort across many different stakeholders.

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*Originally published on [Brandon Donnelly](https://paragraph.com/@brandondonnelly/the-electrification-of-the-global-economy-is-here-but-big)*