Carbon emission reduction is the only way to alleviate environmental problems, such as global warming. Effective evaluation of carbon performance can help enterprises to carry out energy saving and emission reduction activities to a certain extent and promote sustainable development. This paper constructs a carbon performance evaluation index system that includes the four dimensions of carbon resource (energy) input, cycle, output, and carbon management by incorporating the principles of circular economy and the theory of resource value circulation from the perspective of the flow trajectory of carbon-containing resources in the circulation of enterprises combined with the production characteristics of thermoelectric enterprises. Subsequently, combined with the case study, this paper discusses the scientific and practical nature of the system and provides another way of thinking for carbon performance evaluation of micro-enterprises in other industries. This paper expands the application boundary of matter–element model and supplements the literature of carbon performance, which has certain theoretical and practical significance.