The invention relates to the technical field of buildings, and particularly discloses an energy consumption joint for connecting a prefabricated shear wall and a coupling beam and an assembly method of the energy consumption joint. The energy consumption joint comprises a slotted steel plate, a damping steel plate, I-shaped steel, a first end plate, a second end plate, a base plate and high-strength friction type bolts, the slotted steel plate is arranged on the end face of a prefabricated coupling beam, the slotted steel plate and the prefabricated coupling beam are integrally prefabricated and formed, and the damping steel plate is perpendicular and fixedly connected with the prefabricated coupling beam through the bolts; a brass friction plate is arranged between the contact surfaces of the steel damping plate and the prefabricated coupling beam, the end part of the steel damping plate is welded with the end plate, and the other end part of the I-shaped steel and the prefabricated shear wall are integrally prefabricated. A wall body and the connecting beam are prefabricated, mechanical connection of the wall body and the connecting beam is achieved through the slotted steel plate, the damping steel plate, the I-shaped steel, the base plate and the like, an energy dissipation joint assembly can deform towards the energy dissipation assembly during an earthquake, earthquake energy is dissipated, and therefore the excellent energy dissipation and shock absorption effects are achieved.