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The cultivation of microalgae from municipal wastewater, while simultaneously removing nutrients from the water column, has the potential to aid biodiesel production and carbon dioxide fixation, thereby alleviating the pressure of energy shortages. In this research, different ratios of sodium bicarbonate and glucose were used to prepare simulated municipal wastewater. The results demonstrated that microalgae were most effectively treated under one-stage direct treatment conditions. During direct culture, the most effective treatment was observed for IAA-3, which exhibited a dry weight of 1.4363 g/L and a lipid content of 25.05% after stimulation with 0.0005 M NaHCO3. In contrast, NaHCO3-2 demonstrated optimal performance during the secondary culture, with a dry weight of 1.6844 g/L and a lipid content of 18.05%. Finally, the economic, social and environmental benefits of direct treatment (IAA-3) and secondary treatment NaHCO3-2 were analyzed. The benefits of direct treatment were found to be USD 0.50989/L, while those of secondary treatment were USD 0.43172/L. For each tonne of municipal wastewater treated, the carbon sequestration benefits of IAA-3 during direct treatment and NaHCO3-2 during secondary treatment were USD 0.45645 and USD 0.85725, respectively. [ABSTRACT FROM AUTHOR]