Geothermal REC Revenue Calculator
Estimate annual GREC output from system size and fuel type. Maryland post-2022 pricing uses $94.04 per credit for compliance year 2024; Massachusetts pricing is quoted at evaluation. Results are estimates and actual credits depend on documented thermal output, certification, and market conditions.
Estimate your annual GREC revenue
28
Estimated GRECs/year
$2,633
Estimated annual revenue
$39,497
Estimated 15-year revenue
How the Calculator Works
This first-pass estimate uses system tons × 7 MWh of delivered thermal energy per ton per year × fuel displacement multiplier = annual GRECs. Actual credit issuance depends on documented thermal output and each program's rules.
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?
In compliance year 2024, Maryland's 1,134 certified geothermal systems produced 53,721 GRECs — about 47 GRECs per system on average, or roughly $4,400 at the post-2022 price of $94.04. That fleet average includes commercial systems; a single-family home typically earns less. A typical 4-ton home system generating 20–35 GRECs could earn roughly $2,000–$3,300 before fees.
How many GRECs does a 3-ton geothermal system generate?
A typical 4-ton home system may generate 20–35 GRECs per year, depending on how much heat it actually delivers. Larger commercial and institutional systems can generate more in proportion to documented 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.