China will lead the world's renewable energy development, accounting for 40 percent of the growth from 2011 to 2017, according to a report published by the International Energy Agency on July 5.

Of the 710 gigawatts of new global renewable electricity capacity expected, China will account for almost 40 percent, followed by the US, India, Germany and Brazil.

The report added that despite economic uncertainties in many countries, global power generation from hydropower, solar, wind and other renewable sources is expected to increase by more than 40 percent to almost 6,400 terawatt hours over the next five years – roughly one and a half times the current electricity production in the US.

Meanwhile, renewable generation will increasingly shift from countries in the Organization for Economic Cooperation and Development to new markets, with the latter accounting for two-thirds of the growth, the report said.