GREC Market Insights & News
Market updates, state legislation tracking, GREC pricing analysis, and educational resources for geothermal heat pump owners and installers.
Maryland GREC Price Hits $87 in 2025 — What It Means for Geothermal Owners
Maryland's GREC market continues to strengthen, with credits trading at $87.00 per MWh in 2025. We break down what's driving prices and how geothermal owners can maximize their revenue.
Virginia SB 508 Registration Is Now Open — Here's How to Enroll
Following the Virginia SCC's December 2024 working group report, GREC registration is officially open for Virginia geothermal systems installed after August 16, 2022. Learn the step-by-step process.
Pennsylvania PRESS Act (HB 501) Passes House Committee — What's Next?
HB 501 cleared the House Environment Committee in June 2025, moving Pennsylvania one step closer to elevating geothermal to Tier I. We analyze the timeline and what it means for PA system owners.
How Many GRECs Does My Geothermal System Generate Per Year?
The number of GRECs your system produces depends on capacity, COP, and fuel type replaced. We walk through the calculation with real-world examples for 3-ton, 5-ton, and 10-ton systems.
Announcing the Emergent Energy Installer Partner Program
Geothermal installers can now add estimated GREC revenue to every customer proposal — and earn referral fees. Learn about our new partner program covering MD, VA, NH, and soon PA.
PJM-GATS vs. NEPOOL-GIS: Which Tracking System Applies to Your GRECs?
Understanding the difference between PJM-GATS (used in MD, VA, PA) and NEPOOL-GIS (used in NH) is critical for GREC registration. We explain both systems and what they mean for your credits.
What Is a Geothermal Renewable Energy Credit (GREC)?
A GREC is a tradeable certificate issued for every MWh of thermal energy your heat pump produces. Learn how they work and what they're worth.
GREC vs. SREC: What's the Difference and Which Is More Valuable?
GRECs and SRECs are both renewable energy credits, but they come from different technologies and trade in separate markets. Here's how they compare in value and mechanics.
How GREC Registration Works: A Step-by-Step Guide for Homeowners
Registering your geothermal system for GRECs involves state certification and PJM-GATS or NEPOOL enrollment. Here's the complete process explained in plain language.
Geothermal Heat Pump Tax Incentives in 2025: IRA, State Credits, and GRECs Combined
The Inflation Reduction Act offers a 30% federal tax credit for geothermal heat pumps. Stack it with state incentives and GREC revenue to dramatically cut your payback period.
The Maryland GREC Program Explained: Eligibility, Pricing, and How to Enroll
Maryland's GREC carve-out, established under HB 1007 in 2021, pays geothermal owners $87 per credit in 2025. Here's everything you need to know about eligibility and enrollment.
Virginia GREC Program: How SB 508 Created a Market for Geothermal Credits
Virginia SB 508 established a GREC market under the Virginia Clean Economy Act. Here's how geothermal owners in Virginia can register their systems and sell credits.
New Hampshire Geothermal Credits: How the NEPOOL Program Works
New Hampshire uses the NEPOOL-GIS registry to issue geothermal renewable energy credits under its Class I Renewable Portfolio Standard. Here's how NH homeowners can participate.
Pennsylvania PRESS Act: What Geothermal Tier I Status Means for PA Homeowners
Pennsylvania's PRESS Act (HB 501) would elevate geothermal to Tier I status under the AEPS, creating a GREC market similar to Maryland's. Here's what PA homeowners need to know now.
How Your Geothermal System's COP Affects Your GREC Earnings
Your geothermal heat pump's Coefficient of Performance (COP) directly determines how many GRECs your system generates each year. Here's how the math works.
The Fuel Displacement Multiplier: Why Oil Systems Earn More GRECs Than Gas
The fuel displacement multiplier in the GREC formula adjusts your credit output based on the heating fuel your geothermal system replaced. Oil systems earn the most.
PJM-GATS Enrollment for Geothermal Systems: What It Is and How It Works
PJM-GATS is the tracking registry used to issue and transfer GRECs in Maryland, Virginia, and Pennsylvania. Here's what enrollment involves and why it matters.
NEPOOL-GIS and New Hampshire GRECs: A Homeowner's Guide
NEPOOL-GIS is the certificate tracking system used for New Hampshire geothermal credits. Learn how it works and why it's different from PJM-GATS.
Geothermal System Size and GREC Revenue: 2-Ton vs. 5-Ton vs. 10-Ton
Larger geothermal systems generate more GRECs per year. Here's exactly how much revenue a 2-, 3-, 4-, 5-, and 10-ton system earns at current Maryland market rates.
Does My Older Geothermal System Qualify for GRECs? Eligibility by Installation Year
GREC eligibility depends on your installation year and state. Maryland allows pre-2023 systems to earn Tier 1 RECs; Virginia requires installation after August 2022.
Commercial Geothermal Systems and GREC Revenue: Schools, Offices, and Multi-Family Buildings
Commercial and institutional geothermal systems can generate hundreds of thousands of dollars in GREC revenue annually. Here's how the program works for non-residential buildings.
GREC Market Price History: How Geothermal Credit Values Have Trended
Maryland GREC prices have trended from lower initial values toward $87/MWh in 2025. Here's a look at the market history and what drives GREC price movements.
What Is a Renewable Portfolio Standard and Why Does It Create GREC Demand?
A Renewable Portfolio Standard (RPS) requires utilities to source a percentage of their electricity from renewables. GRECs are how utilities meet their geothermal compliance obligation.
What Is the ACP Ceiling and How Does It Protect GREC Prices?
The Alternative Compliance Payment (ACP) is the maximum price utilities pay to avoid buying real GRECs. It acts as a price ceiling — and a floor — for the GREC market.
How Much Does a Geothermal Heat Pump Cost in 2025? Installation, ROI, and GREC Revenue
Geothermal heat pump installation costs range from $15,000–$40,000. With IRA tax credits, state rebates, and GREC revenue, the payback period can be under 5 years.
Geothermal vs. Air-Source Heat Pump: Which Generates GRECs?
Only geothermal (ground-source) heat pumps qualify for GRECs. Air-source heat pumps do not. Here's the key technical and financial difference between the two systems.
ENERGY STAR Certification Requirement for GREC Eligibility
Maryland's GREC program requires residential geothermal systems to meet ENERGY STAR standards. Here's what that means and how to verify your system qualifies.
How Geothermal Installers Can Use GREC Revenue as a Sales Tool
Adding GREC revenue estimates to every geothermal proposal dramatically improves close rates. Here's how installers can present the full financial picture to prospects.
GREC Payment Timeline: How Long Until You Receive Your First Check?
From initial assessment to first GREC payment takes approximately 6–12 weeks. Here's what happens at each stage of the GREC registration and payment process.
No Upfront Cost GREC Registration: How the Revenue Share Model Works
Emergent Energy registers your geothermal system for GRECs at no upfront cost. Instead, we take a percentage of the GREC revenue we generate for you. Here's how it works.
Open Loop vs. Closed Loop Geothermal: Do Both Qualify for GRECs?
Both open-loop and closed-loop geothermal heat pump systems can qualify for GRECs, provided they meet state certification requirements. Here's what you need to know by system type.
Manual J Load Calculations and GREC Registration: What You Need to Know
A Manual J calculation helps document your system's capacity for GREC registration. Here's why it's recommended, when it's required, and how to get one.
Maryland's GREC Low-Income Carve-Out: What It Means for LMI Homeowners
Maryland requires 20% of its GREC compliance to come from low-to-moderate income (LMI) facilities. LMI geothermal owners may qualify for enhanced programs and priority registration.
New Construction Geothermal Systems and GRECs: Planning for Maximum Revenue
Installing geothermal in a new construction project creates an immediate GREC revenue stream. Here's how to plan your system for maximum credit generation from day one.
GREC Registration Documentation Checklist: What You'll Need to Get Started
GREC registration requires specific system documentation including the installation invoice, equipment specs, and utility account information. Here's exactly what to gather.
Which States Are Next for Geothermal GRECs? The 2025 Legislative Outlook
Beyond Maryland, Virginia, and New Hampshire, several states are advancing GREC legislation in 2025. Here's the current legislative landscape and what to watch.
How Is Thermal Energy Measured for GREC Purposes? MWh and the Metering Standard
GRECs are issued in megawatt-hours (MWh) of thermal energy produced. Here's how thermal output is calculated, estimated, and in some cases metered for GREC issuance.