The invention provides an electric energy substitution implementation effect evaluation method and device. According to the method, firstly, a to-be-evaluated region of the electric energy substitution implementation effect is determined, the to-be-evaluated region can be in a national scope and can be in a provincial and city region scope, and customized user demands are satisfied; secondly, basic data of each electric energy substitution project is pre-processed according to a preset electric energy substitution implementation effect evaluation model, a principal component analysis method is employed to analyze the standard data after processing to acquire a score and weight of each main factor, comprehensive evaluation scores of to-be-evaluated fields can be calculated, and electric energy substitution implementation effect ranking of the to-be-evaluated fields can be determined according to the comprehensive evaluation scores. The method is advantaged in that the method is objective and scientific, a quantitative evaluation result can be realized, electric energy substitution business management personnel is facilitated to more accurately and quickly evaluate the electric energy substitution implementation effect, and pertinent business development and popularization can be carried out.