With the development of information technology application in environmental governance, the role of Internet in improving energy efficiency and reducing energy-saving potential (ESP) has attracted more attention. The slack-based model (SBM)-unexpected model and entropy method are applied to measure China’s energy-saving potential and Internet development. Further, we empirically analyze the direct effect, mediating effect, threshold effect and regional heterogeneity of Internet on ESP. The conclusion reflects that there is a significant spatial correlation between Internet penetration and ESP. Internet penetration has become an important tool for reducing ESP, but this effect shows regional heterogeneity. Human capital accumulation, financial development and industrial upgrading are important influencing mechanisms, but indirect effects are weaker than direct effects. The impact of Internet penetration on ESP is non-linear. For improving human capital accumulation, financial development and industrial upgrading, the role of Internet popularization in energy conservation is more obvious.

With the continuous advancement of technological revolution and industrial transformation, digital finance supported by big data and artificial intelligence has become an important engine for promoting carbon neutrality. We measured the industrial structure transformation index (ISU) of 30 provinces in China, and discussed the spatial spillover effect and transmission mechanism between digital finance and ISU using the spatial Durbin model. The research results demonstrate that the digital finance development can significantly improve the local ISU. Interestingly, the impact of digital finance on the ISU of adjacent areas has a significantly negative spatial spillover effect, which still exists under the different spatial weight matrix. Digital finance can improve ISU by improving green technology innovation, upgrading industrial structure, and alleviating capital allocation. We also found that the higher degree of marketization and environmental regulation can increase the positive influences of digital finance on ISU. This research proves the effectiveness of the digital finance in improving energy efficiency, and it encourages policymakers around the world to rely on digital finance to promote ecological governance and achieve high-quality economic development.