China emerges as world's renewable energy powerhouse

China has increased its renewable energy use to meet its international commitments to tackle climate change, according to a report by the Australian government's Climate Commission released Monday.

The report, namely the Critical Decade: Global Action Building on Climate Change, showed the world's two largest economies, China and the United States, are on the path to meet their international commitments on climate change.

According to this report, China reduced the carbon intensity of its economy in 2012 more than expected and almost halved its growth in electricity demand. After years of strong growth in coal use, the rate of growth has declined substantially.

China has emerged as the world's renewable energy powerhouse, taking ambitious strides to add renewable energy to its mix, the report said.

According to the figures in this report, between 2005 and 2012, China increased its wind power generation capacity by almost 50 times. The amount of electricity generated from wind in 2012 was about 36 percent higher than in 2011. And new solar power capacity expanded by 75 percent this year. Solar power capacity is expected to triple to more than 21,000 megawatts by 2015.

The Commission also pointed out in this report that China invested 65.1 billion U.S. dollars in clean energy in 2012, 20 percent more than in 2011. "This was unmatched by any nation and represented 30 percent of the entire G-20 nations' investment in 2012," it said.