This document discusses the need to transform the global energy system to harness electricity's potential in a sustainable way. It finds that we currently have the tools needed to develop a strategy but that the political will for meaningful global progress is still lacking. The International Energy Agency analysis shows that investment in transitioning to a low-carbon energy system is cost effective and will pay off. A key part of the transition is decarbonizing electricity generation through a large increase in renewables like solar and a decrease in fossil fuels. Flexible resources like storage, grids and dispatchable generation will be needed to support rising renewable energy.