The impact of increased CO2 in environment is a major factor of climate change and has cascading effects on ecosystem, human societies and agriculture. Increased CO2 levels can affect crop yield and food security. This paper aims to examine carbon credit of a greenhouse integrated solar photovoltaic thermal (GiSPVT) system that uses Multi crystalline solar cell material with semitransparent (SPVT) collectors for control environment while promoting the friendly atmosphere. GiSPVT-integrated air collectors supply thermal and electrical energy, which is used to regulate the structure's humidity and temperature. In this paper analytical calculations are done to derive the expressions that can find temperature of the plant and air within the greenhouse, solar cell temperature, also the efficiency of electrical energy of the GiSPVT system along with the collectors. The expressions are derived with the help of climatic variables like solar irradiations and ambient air temperature, as well as some design parameters such as temperature coefficients, heat transfer coefficients, area of the PV module, electrical efficiency under standard test conditions (STC). The performance of the proposed system is evaluated using different energy performance indicators, namely energy payback time (EPBT), energy production factor (EPF), and life cycle conversion efficiency (LCCE). Thermal modelling is specifically carried out for a multi-crystalline silicon (mc-Si)–based GiSPVT system integrated with air collectors. The total electrical and thermal energy outputs of the system are estimated in order to assess these energy matrices. In addition, the total carbon emissions, carbon mitigation, and carbon credits associated with the proposed system over its entire lifetime are also evaluated.