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 — Owner Impact
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.
PA PRESS Act (HB 501) Clears House Committee
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 Tracks 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: Key Differences and Which Pays More
GRECs and SRECs are both renewable energy credits but trade in separate markets. Compare value, mechanics, and which is more lucrative.
How GREC Registration Works — Homeowner Guide
Registering for GRECs involves state certification plus PJM-GATS or NEPOOL enrollment. The full process explained in plain language.
Geothermal Heat Pump Tax Incentives 2025 — IRA & GRECs Combined
The IRA offers a 30% federal tax credit for geothermal heat pumps. Stack it with state incentives and GREC revenue to shrink payback.
The Maryland GREC Program Explained: Eligibility, Pricing, and How to Enroll
Maryland's GREC carve-out (HB 1007, 2021) pays geothermal owners $87 per credit in 2025. Eligibility, documentation, and enrollment explained.
Virginia GREC Program: How SB 508 Created a Market for Geothermal Credits
Virginia SB 508 created a GREC market under the Clean Economy Act. How VA geothermal owners register systems and sell credits.
New Hampshire Geothermal Credits — NEPOOL Program Guide
New Hampshire issues geothermal RECs via NEPOOL-GIS under its Class I RPS. How NH homeowners can register and earn from their heat pump.
Pennsylvania PRESS Act: What Geothermal Tier I Status Means for PA Homeowners
Pennsylvania's PRESS Act (HB 501) would elevate geothermal to Tier I under the AEPS, creating a Maryland-style GREC market. What PA owners need to know.
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 — Oil Earns More GRECs Than Gas
The fuel displacement multiplier adjusts GREC output by the heating fuel your geothermal replaced. Oil systems earn the most — here's why.
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
How much GREC revenue 2-, 3-, 4-, 5-, and 10-ton geothermal systems earn per year at current Maryland market rates.
Does My Older Geothermal System Qualify for GRECs? Eligibility by Installation Year
GREC eligibility by install year and state. Maryland allows pre-2023 systems for Tier 1; Virginia requires installation after August 2022.
Commercial Geothermal Systems and GREC Revenue: Schools, Offices, and Multi-Family Buildings
Commercial and institutional geothermal can earn hundreds of thousands in annual GREC revenue. 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?
An RPS requires utilities to source a share of power from renewables. GRECs are how they meet geothermal compliance — and why credits have value.
What Is the ACP Ceiling and How Does It Protect GREC Prices?
The Alternative Compliance Payment (ACP) is the max utilities pay to skip buying GRECs. It sets both the ceiling and effective floor on prices.
How Much Does a Geothermal Heat Pump Cost in 2025? Installation, ROI, and GREC Revenue
Geothermal heat pump install costs $15K–$40K. With IRA tax credits, state rebates, and GREC revenue, payback can be under 5 years.
Geothermal vs. Air-Source Heat Pump: Which Generates GRECs?
Only ground-source heat pumps qualify for GRECs — air-source does not. The technical and financial differences 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.
Geothermal Installers — Use GREC Revenue to Close Sales
Adding GREC revenue estimates to geothermal proposals boosts close rates. 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 geothermal systems for GRECs at no upfront cost — we take a share of the revenue we generate. Here's how it works.
Open Loop vs. Closed Loop Geothermal: Do Both Qualify for GRECs?
Open-loop and closed-loop geothermal heat pumps can both qualify for GRECs if they meet state certification. What 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 GREC compliance from low-to-moderate income facilities. LMI geothermal owners may qualify for enhanced programs.
New Construction Geothermal Systems and GRECs: Planning for Maximum Revenue
New construction geothermal creates an immediate GREC revenue stream. 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 the install invoice, equipment specs, and utility account info. The exact documentation checklist 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 per MWh of thermal energy produced. How thermal output is calculated, estimated, and sometimes metered for GREC issuance.