Geothermal REC Revenue Calculator
Estimate your annual GREC revenue based on your system's state, capacity (tons), and fuel type replaced. Calculations use current market pricing for Maryland ($87/MWh), Virginia (ACP ceiling $45/MWh), and New Hampshire ($27/MWh average). Results are estimates; actual credits may vary based on system certification and market conditions.
Estimate your annual GREC revenue
431
Estimated GRECs/year
$37,525
Estimated annual revenue
$562,879
Estimated 15-year revenue
How the Calculator Works
The GREC revenue formula is: system tons × 12,000 BTU/hr × 8,760 hours × COP (3.5) ÷ 3,412,000 BTU/MWh × fuel displacement multiplier = annual GRECs.
Your system's coefficient of performance (COP) determines how efficiently it converts electricity into thermal energy. A higher COP means more thermal output per unit of electricity — and more GRECs. The fuel displacement multiplier adjusts for the carbon intensity of the heating fuel your system replaced: oil (1.4×), propane (1.2×), natural gas (1.0×), and electric resistance (0.8×).
Annual revenue = GRECs × current state market price. Lifetime revenue assumes a 15-year maximum credit generation period with stable pricing.
Common GREC Earnings Questions
How much do GRECs pay per year in Maryland?
A geothermal system in Maryland generates approximately 430 GRECs per year at a current market rate of $87 per GREC, totaling approximately $37,410 per year. Actual earnings depend on system size, efficiency, and market conditions at time of sale.
How many GRECs does a 3-ton geothermal system generate?
A standard 3-ton residential geothermal heat pump generates approximately 430 GRECs per year in Maryland. Larger systems generate proportionally more credits based on measured thermal output.
How long can I earn GRECs from my system?
Most state GREC programs allow credit generation for up to 15 years from the date of system registration. Credits are tracked and verified annually through PJM-GATS or NEPOOL registries.
What is the difference between a GREC and an SREC?
A GREC (Geothermal Renewable Energy Credit) is generated by geothermal heating and cooling systems and measured in MWh of thermal output. An SREC (Solar Renewable Energy Credit) is generated by solar photovoltaic systems and measured in MWh of electricity. Both are tradeable certificates, but they serve different renewable portfolio standards and have separate markets.