Facing the development goal of economic and social green transformation, it has important theoretical value and practical significance to study the correlation and coordination mechanism between carbon trading market and green electricity policy. The interactive model of carbon trading market and green electricity policy is constructed, and the interaction mechanism of emission reduction effect of green electricity policy on quota price transmission in carbon market is discussed. The study finds that China’s carbon trading market and green electricity access policy, green certificate trading and green electricity trading have interactive effects through market price linkage and supply and demand relationship. The empirical analysis further verifies that carbon trading market promotes carbon emission, while green electricity policy inhibits carbon emission. The synergistic effect of the two is to inhibit carbon emission, but the degree of inhibition is less than that of green electricity policy alone. Based on the above theoretical and empirical analysis, this paper proposes policy implications to enhance the synergy between carbon trading market and green electricity policy, so as to provide decision-making support for the realization of green transformation and high-quality development.