Abstract: Stimulating green electricity consumption is a key measure for promoting the efficient integration and utilization of renewable energy and plays a vital role in reducing carbon emissions in the energy sector and supporting the green and low-carbon transition of the energy sector. However, the key factors influencing urban and rural residents' willingness to pay for green electricity and the mechanisms underlying this willingness remain unclear, and the design of relevant incentive policies lacks a clear basis. This study utilizes survey data from 1417 urban and rural residents in the Dongting Lake Ecological Economic Zone. By comprehensively applying the double-bounded dichotomous choice contingent valuation method (DBDC-CVM), structural equation modeling (SEM), and fuzzy set qualitative comparative analysis (fsQCA), the study empirically analyzes the level of willingness to pay for green electricity among urban and rural residents, as well as its influencing factors and configuration pathways. The results indicate that: (1) the willingness to pay for green electricity among urban and rural residents is 18.20 yuan per month, a conclusion that remains valid after robustness testing. (2) Attitude, subjective norms, perceived behavioral control, level of environmental awareness, and policy environment all have significant positive effects on willingness to pay, with perceived behavioral control and subjective norms exerting stronger influences, while the effect of level of environmental awareness is relatively weaker. Tests of mediating effects further indicate that attitude mediates the relationship between level of environmental awareness and willingness to pay. (3) Configurational analysis reveals that perceived behavioral control is the core condition driving high willingness to pay. A relationship of both substitution and synergy exists between subjective norms and the policy environment, with the most significant driving effect observed when the two act synergistically. Based on these findings, it is recommended to strengthen the synergistic driving force of subjective norms and the policy environment, optimize the subscription process, and implement differentiated measures to effectively stimulate urban and rural residents' willingness to pay for green electricity.