Abstract: Carbon capture and utilization in coal-fired power plants is of great importance for achieving the “double carbon” goal. To reduce energy consumption and economic cost of Carbon capture and utilization in coal-fired power plants, a new polygeneration scheme for simultaneous generation of electricity, heat and methanol is proposed. Based on oxy-fuel combustion coal-fired power plant, water electrolysis of the renewable energy and methanol generation sub-systems, systematic integration and optimization of the polygeneration scheme is conducted by numerical calculation for thermodynamic and techno-economic analyses. For mass balance, CO₂ from oxy-fuel combustion of the coal-fired power plant and H₂ from water electrolysis of the renewable energy are used for methanol generation. O₂ from water electrolysis of the renewable energy is used for oxy-fuel combustion of the coal-fired power plant. For energy balance, the coal-fired power plant provides electricity and heat for the methanol generation process. Besides, the exhaust energy of the methanol generation process is used for additional electricity generation and heat supply. Thermodynamic analysis results show that the nearly 80% of the captured CO₂ from oxy-fuel combustion of the coal-fired power plant could be used for methanol generation, which proves the excellent matchup of the proposed scheme. Based on integration and optimization in a gross 600 MW coal-fired power plant, the net electric output, heat supply and methanol generation in the proposed scheme reach 449.06 MW, 217.17 MW and 201.70 t/h respectively, which realizes the polygeneration of electricity, heat and methanol. Techno-economic analysis results illustrate that the electricity cost of the proposed scheme is decreased to 63.26 /MWh due to additional benefits from heat, which is lower than the conventional electricity cost of the coal-fired power plant with CO₂ capture. Besides, the methanol cost of the proposed scheme is decreased to 696.71 /t due to the saved CO₂ cost and fuel cost. Besides, the methanol cost is mainly dependent on the H₂ price by water electrolysis of renewable energy and reduction of H₂ price is significant for industrial application of the proposed scheme.