Echoing Li's view, Wang Zhongying, a researcher with ERI, said development of new energy is integral for China to achieve its emission control targets.

According to a recent report by World Bank, China needs an additional investment of $64 billion annually over the next two decades to implement an "energy-smart" growth strategy.

Such investment should be aimed at making the power and transport sectors more efficient and developing renewable energy, said the bank.

Many new energy sectors in China have seen tremendous growth in recent years. For instance, wind power has seen growth rates in excess of 100 percent in the last three years.

In line with the rapid growth in the industries, China has also adjusted the blueprint for some other sectors. For instance, the country made a plan in 2005 to increase its nuclear power capacity to 40 gigawatts (gW) in 2020, when it would account for 4 percent of the country's total power capacity.

But in line with the quick growth of the industry, the target has been raised to between 70 gW to 80 gW, according to officials with both the NEA and NDRC.

China has 11 nuclear power reactors under operation at present. These reactors have a total capacity of 9.1 gW and account for around 1 percent of the nation's total power capacity.

However, some analysts said it will be a long time before the new energies actually emerge as alternatives to coal and oil. "Coal and oil will still remain the mainstream energy in the country," said Lin Boqiang, a professor at Xiamen University.