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In response to the severe energy and environmental issues, CO2 emission reduction and low-carbon development are inevitable. China has become the biggest CO2 emitter in the world since 2006. As a major CO2 emission source in China, power industry is facing greater pressure for carbon emission abatement. By applying various low-carbon power technologies and mechanisms, the potential for CO2 emission reduction in power systems is considerable. In this paper, the major low-carbon factors in power systems are identified to reveal the possible low-carbon benefits from different sectors. The tested factors include DSM, smart grid technologies, low-carbon generation technologies, utilization of low-carbon energy and low-carbon power dispatch. Corresponding evaluation methods are then proposed to analyze the low-carbon benefits from different sources quantitatively. On this basis, a general, comprehensive assessment model is developed, which reasonably integrates different kinds of low-carbon benefits in power systems while eliminating overlapped effects. Finally, a numerical case based on data of the Yunnan provincial power system is studied to test the effectiveness of the proposed model.