In order to solve the problem of carbon reduction in the power industry, this paper considered both the green certificate and carbon emission trading mechanism, and made a quantitative analysis of the synergistic carbon reduction effect of the two trading mechanisms. A bi-level game model aiming at maximizing the profit of each manufacturer was established to analyze the influence of renewable energy quota ratio and carbon emission reduction rate on the decision-making behavior of manufacturers. A new carbon quota approval strategy was proposed for the allocation of free carbon allowances, and Karush-Kuhn-Tucker (KKT) condition was used to transform the bi-level model into a single-layer model. The results show that the new carbon quota approval strategy can not only promote the development of renewable energy, restrain the growth of coal power, but also reduce carbon emissions and help to achieve the carbon peaking and carbon neutrality goals. This research provides a reference for the linkage of various manufacturers and the promotion of energy transformation through optimizing the allocation of resource structure.