The generation rate of photocarriers in optoelectronic materials is commonly calculated using the Poynting vector in the frequency domain. In time-domain approaches where the nonlinear coupling between electromagnetic (EM) waves and photocarriers can be accounted for, the Poynting vector model is no longer applicable. One main reason is that the photocurrent radiates low-frequency EM waves out of the spectrum of the source, e.g., terahertz (THz) waves are generated in THz photoconductive antennas. These frequency components do not contribute to the photocarrier generation since the corresponding photon energy is smaller than the optoelectronic material's bandgap energy. However, the instantaneous Poynting vector does not distinguish the power flux of different frequency components. This work proposes a material absorption-based model capable of calculating the carrier generation rate accurately in the time domain. Using the Lorentz dispersion model with poles reside in the optical frequency region, the instantaneous optical absorption, which corresponds to the power dissipation in the polarization, is calculated and used to calculate the generation rate. The Lorentz model is formulated with an auxiliary differential equation method that updates the polarization current density, from which the absorbed optical power corresponding to each Lorentz pole is directly calculated in the time domain. Examples show that the proposed model is more accurate than the Poynting vector-based model and is stable even when the generated low-frequency component is strong.