A lab-scale greenhouse dryer was developed and experimentally tested in no-load condition under the humid climate of hilly region of Mizoram in North East India. Energy, exergy, economic and environmental (4E) analyses were performed on the developed dryer to assess its thermodynamic performance, economic viability and environmental impact under natural convection (NCD) and mixed-mode forced convection (FCD). The energy efficiency (η) and exergy efficiency (ψ) of the system under NCD (η= 41.5% and ψ= 4.5%) were higher than that of FCD (η= 28.5% and ψ= 4.1%). The carbon credit earned was 91.24 and 99.95 USD respectively when operated under forced (FCD) and natural convection (NCD). The energy payback period of the system was just 1.1 and 1.5 years respectively for NCD and FCD mode of operations; the corresponding economic payback period was 2.7 years and 3.2 years against its lifetime of 10 years. Methods for improvement in the thermal performance of the greenhouse dryer and suggestions for incrementing the utilization of solar based dryers in industry have also been presented.