The development of the Energy Internet Demonstration Project and the construction of the smart grid in the Bay Area of Guangdong, Hong Kong and Macao have great economic benefits for the green development of the Bay Area. Based on the structural characteristics of the Energy Internet, this paper analyses the development advantages of the smart grid and the current status of energy development in the Bay Area. Focusing on the Energy Internet's energy saving, industrial transformation and environmental economy, qualitative analysis of the economic benefits for the Bay Area's green development can be summarized as follows. First, the Energy Internet can reduce line losses and electricity prices to achieve cost savings. The second purpose is to promote the transformation of traditional industries, promote the development of new industries and realize the benefits of industrial upgrading. Third, the Energy Internet can generate environmental and economic benefits through high value‐added resource conservation, pollution control fund savings, and response to global climate change. To a certain extent, this paper has policy implications for green development of the Bay Area.