This paper deals with the effect of heat exchanger on the performance of greenhouse integrated semi-transparent photovoltaic thermal (GiSPVT) in terms of overall electrical energy generation. GiSPVT has tremendous application potential in agriculture sector and used to provide required amount of electrical and thermal energy. The energy balance equation of such system has been modeled in the MATLAB environment to assess the performance of the overall system at different values of effectiveness factor of heat exchanger. It has been a significant effect of heat exchanger and number of collectors on electrical and thermal performance of the proposed system.