China is the largest CO2 emitter, and thermal power units are the main source of CO2 emissions. The low-carbon transformation of thermal power units is the key to carbon emission reduction. China is rich in wind and solar energy resources; wind power and photovoltaic power generation technologies are mature and have good economic prospects. Significantly increasing the proportion of installed wind power and photovoltaic power is the main idea of the power system low-carbon transformation. Biomass fuel blending is the only solution for thermal power units to reduce carbon emissions. Drawing on the large proportion of biomass blending technology in large foreign coal power units, the low-carbon transformation of thermal power units will be completed, and eventually, together with wind power and photovoltaic power generation, China’s renewable energy-based low-carbon power system will be formed. The process of low-carbon transformation of the power system reduces the use of fossil energy, reduces external energy dependence, and improves national energy security. The low-carbon transformation of the power system should be steadily promoted to prevent large adverse impacts on society and the economy.