Quantum Boltzmann formalism is employed to study the transport properties of strongly-coupled double layer systems that enable the formation of interlayer excitons and exciton condensation. The importance of exciton formation, dissociation, and condensation is highlighted in the context of thermoelectric power generation, and this mathematical inquiry provides an alternative methodology to calculate the thermoelectric efficiency given the conditions of exciton formation. The Onsager relation for the Coulomb drag resistivity is shown to be valid even when exciton condensation is present. In addition, it is found that the traditional thermoelectric figure of merit is no longer sufficient to predict the efficiency of thermoelectric power generation in the presented situations. This inquiry offers insights for designing double layer systems, including their interlayer interactions, with enhanced thermoelectric energy conversion efficiency.