In　the　context　of　the　“double　carbon”　target,　promoting　the　green　and　low-carbon　transformation　of　economic　and　social　development　is　a　major　systemic　project.　Developing　renewable　energy　and　improving　energy　efficiency　will　help　to　build　a　more　efficient　green　energy　system.　Analyzing　the　effect　of　energy　transformation　has　important　reference　value　for　formulating　a　reasonable　carbon　emission　policy　and　achieving　medium　and　long-term　emission　reduction　targets.　This　study　takes　this　as　a　starting　point.　Firstly,　static　panel　and　dynamic　panel　system　generalized　method　of　moments　(GMM)　are　used　to　estimate　the　impact　of　energy　transformation,　renewable　energy　efficiency　and　non-renewable　energy　efficiency　on　major　macroeconomic　variables.　Secondly,　the　intermediate　production　sector　is　subdivided　into　renewable　energy　production　sector　and　non-renewable　energy　production　sector.　The　dynamic　stochastic　general　equilibrium　(DSGE)　model　is　constructed　to　analyze　the　short-term　impact　of　energy　transformation　impact,　renewable　energy　efficiency　impact　and　non-renewable　energy　efficiency　impact　on　major　macroeconomic　variables.　The　analysis　shows　that:　1)　energy　transformation　promotes　the　transfer　of　resources　between　sectors,　the　output　of　renewable　energy　production　sector　will　increase,　while　the　output　of　non-renewable　energy　production　sector　and　carbon　emissions　will　decrease;　2)　The　improvement　of　two　kinds　of　energy　efficiency　will　produce　economic　expansion　effect,　but　it　will　also　produce　energy　rebound　effect　and　increase　carbon　emissions;　3)　At　the　end　of　the　simulation　period,　the　implementation　of　the　carbon　emission　intensity　policy　will　promote　the　growth　effect　of　three　shocks　on　output,　but　will　also　hinder　the　emission　reduction　effect　and　aggravate　the　rebound　effect　in　the　process　of　energy　transformation.　The　implementation　of　the　carbon　tax　policy　will　inhibit　the　rebound　effect　of　two　types　of　energy　efficiency　shocks　on　carbon　emissions.　In　the　process　of　energy　transformation,　we　should　rely　on　a　reasonable　carbon　emission　policy　and　formulate　medium　and　long-term　emission　reduction　targets.　This　study　has　important　reference　value　for　China　to　analyze　the　effect　of　energy　transformation.　©　2023　Systems　Engineering　Society　of　China.　All　rights　reserved.