Your geothermal heat pump is generating credits. Are you getting paid for them?
Geothermal heating and cooling systems generate Geothermal Renewable Energy Credits (GRECs) in Maryland, Virginia, and other states. Emergent Energy Solutions handles registration, PJM-GATS tracking, and market sale — at no upfront cost to you.
What Is a Geothermal Renewable Energy Credit (GREC)?
A Geothermal Renewable Energy Credit (GREC) is a tradeable certificate issued for every megawatt-hour (MWh) of thermal energy produced by a qualified geothermal heat pump system. Utilities and energy suppliers in states like Maryland, Virginia, and New Hampshire are required by law to purchase a certain percentage of their energy from renewable sources — and GRECs are how they meet that requirement. Homeowners with eligible geothermal systems can register through PJM-GATS or NEPOOL, then sell their credits at current market rates. A typical 3-ton residential system generates approximately 430 GRECs per year.
Current MD GREC market price (2025)
Maximum credit generation period
Active or emerging GREC programs
State GREC Programs
Maryland
ACTIVE$87.00/GREC (2025)
Maryland's Tier 1 GREC carve-out is the most mature geothermal REC program in the US. Systems installed after January 1, 2023 qualify for the dedicated GREC carve-out. Residential and commercial systems eligible. Credits tracked via PJM-GATS.
Learn moreVirginia
ACTIVEMarket rate | ACP ceiling $45/MWh
Virginia SB 508 (2024) established Virginia as the second state with a dedicated geothermal REC carve-out. Phase I and Phase II utilities — Dominion Energy and Appalachian Power Co. — are required to procure GRECs. Systems eligible from August 16, 2022 forward.
Learn morePennsylvania
PENDING LEGISLATIONPennsylvania's PRESS Act (HB 501) proposes to elevate geothermal heat pumps from Tier II to Tier I of the AEPS framework. HB 501 passed the House Environment Committee in June 2025 and awaits Senate action. If enacted, PA geothermal owners would earn Tier I credits — the highest-value credit class.
Track PA legislationNew Hampshire
ACTIVE (NEPOOL)New Hampshire was the first state in the US to add a renewable thermal carve-out to its RPS in 2012. Geothermal systems earn Thermal RECs (T-RECs) tracked through NEPOOL-GIS rather than PJM-GATS. Eligible systems must have begun operation after January 1, 2013.
Learn moreHow It Works
We assess your system
Free eligibility check based on system size, installation date, and state.
We register your system
PJM-GATS or NEPOOL-GIS registration handled entirely by Emergent Energy. Typically 4–8 weeks.
We sell your credits
GRECs are aggregated and sold to utilities at market pricing. You receive payment net of our fee. No upfront cost, ever.
Estimate your annual GREC revenue
431
Estimated GRECs/year
$37,525
Estimated annual revenue
$562,879
Estimated 15-year revenue
Frequently Asked Questions
A GREC is a tradeable certificate representing the clean energy output of a geothermal heating and cooling system. States that include geothermal heat pumps in their Renewable Portfolio Standard (RPS) require utilities to procure a minimum number of GRECs each year. One GREC is issued for each MWh of thermal energy produced — measured either directly or calculated based on system size, efficiency, and fuel type replaced.
Your system generates GRECs automatically once it is registered with the appropriate tracking system (PJM-GATS for Maryland and Virginia; NEPOOL-GIS for New Hampshire). Emergent Energy handles the entire registration process — system documentation, state certification, and tracking system enrollment — at no upfront cost. We are compensated as a percentage of GREC sale proceeds only.
GREC values vary by state and fluctuate with market supply and demand. Maryland GRECs are currently trading at $87.00 per credit (2025). Virginia GRECs are an emerging market with an ACP ceiling of $45/MWh. New Hampshire T-RECs have historically traded in the $25–$30 range. Contact us for a current market quote specific to your state and system.
Yes. Emergent Energy operates a partner referral program for geothermal installers and contractors. We pay referral fees for qualified system introductions and handle all registration and GREC management on behalf of your customers. Contact us at sales@emergentenergy.us to discuss the partner program.
Maryland and Virginia have active, dedicated GREC carve-outs. New Hampshire has an active thermal REC program. Pennsylvania's PRESS Act (HB 501) proposes to elevate geothermal to Tier I — the highest AEPS credit class. The Virginia SCC working group report from December 2024 noted that other PJM-region states are monitoring the Maryland and Virginia models. Emergent Energy tracks all emerging state legislation and will register qualifying systems as new programs launch.