The doping strategy with dark metallic oxide has proven effective in improving optical absorptions and heat storage performances of calcium-based materials for the direct solar-driven thermochemical energy storage system, but the microscopic mechanisms of accelerated decomposition of CaCO3 during heat storage process are still unclear. Carbide slag as an industrial waste with low cost and high CaO content is considered as a potential calcium-based precursor for large-scale thermochemical energy storage. Herein, the novel Fe-doped and Mn-doped calcium-based materials were synthesized from carbide slag and their optical absorption properties and heat storage performances were determined in the experiment. The optimum decomposition temperatures of CaCO3 during heat storage process decreased 10.5 °C and 18.6 °C due to Fe doping and Mn doping, respectively. The acceleration mechanisms by Fe doping and Mn doping for enhancing the CO2 separation of CaCO3 in the calcination stage of the heat storage process were investigated by density functional theory (DFT) calculations. The structural parameters, partial density of states, electron differential densities and energy barriers during CO32– dissociation in heat storage process on the doped CaCO3 and undoped CaCO3 surfaces were compared to clarify the effects of Fe doping and Mn doping on the CaCO3 decomposition. The energy barriers of Fe-doped material and Mn-doped material are 1.68 eV and 1.42 eV, respectively, which are 29.4% and 40.3% lower than that of undoped material. This work helps to understand the microscopic mechanisms of accelerated CaCO3 decomposition by Fe and Mn during heat storage process.