Electric energy substitution is not only the only way to improve environmental quality, but also a necessary means to achieve the goal of carbon neutralization. It is of great significance to promote the energy consumption revolution, implement the national energy strategy and promote the clean development of energy. Starting from the comprehensive benefits of implementing electric energy substitution, the comprehensive benefit evaluation model of electric energy substitution project is established based on the grey correlation method. From the perspective of users, it finds the most suitable implementation way of electric energy substitution in Henan province, which provides theoretical support for the development of electric energy substitution in Henan province.