This study primarily focused on investigating energy conservation and carbon reduction performance assessment indexes as policy-making references for screening energy conservation and carbon reduction industries. Based on the perspectives of the value chain, the study classified these industries into energy supply, conversion, and utilization types. The upstream energy supply function was associated with the supply of energy sources; the midstream conversion function, with the conversion of energy sources into energy forms such as electricity or thermal energy; and the downstream utilization function, with the production of the function(s) required by users through electrical power or thermal energy. From the viewpoints of energy conservation and carbon reduction, this study divided the assessment indexes into five categories: energy supply efficiency, conversion efficiency, utilization efficiency, consumption, and carbon emission. This study first explained the investigation of energy conservation and carbon reduction indexes and then constructed an energy conservation and carbon reduction performance assessment model. Finally, as an example, a fuel cell-powered motorcycle developed by the hydrogen power and fuel cell industry was considered in order to estimate actual energy conservation and carbon reduction performance. Biomass fermentation was used to produce the hydrogen supply. The results indicated that this model could both estimate energy consumption and CO2 emission and analyze major energy conservation and carbon reduction sources for these industries. Copyright (C) 2011, Hydrogen Energy Publications, LLC. Published by Elsevier Ltd. All rights reserved.