In this paper, the Performance analysis in terms of effect of carbon credit earned on annualized uniform cost of glazed hybrid photovoltaic thermal air collector on the basis of annual thermal energy and exergy have been analyzed for New Delhi climatic conditions. The effect of interest rates on annualized uniform cost has also been evaluated. For the lifetime (30 year) analysis, the carbon emission reduction comes to Rs 1.09,242 and Rs 25275.6 on the basis of overall thermal energy and exergy basis. It has also been observed that there is significant decrease in annualized uniform cost due to carbon credit earned. (C) 2015 Elsevier Ltd. All rights reserved.