Flett Exchange has launched the Flett Exchange GREC Calculator (https://www.flettexchange.com/models/geothermal-rec-calculator), a tool that tells homeowners, building owners, and geothermal loop installers how many Geothermal Renewable Energy Credits (GRECs) a ground source heat pump system will generate each year, and what those credits are worth at current market prices.
It works for projects already placed in service and for projects that are still on the drawing board.
What the calculator does
The calculator runs the same engineering model our desk has used on real projects for years, now in a form a customer can use. This model is constantly being revised and updated to reflect the various RPS laws and REC markets that exist.
- Zone by zone input. Enter up to 10 rooms/ HVAC zones, each with its own conditioned square footage, Manual J heating and cooling loads, and its own heat pump. The model pulls AHRI rated COP and EER for common heat pump units, or you can override with numbers from your design report.
- Real climate data. Runtime is built from NOAA 1991 to 2020 climate normals and design temperatures by state and county.
- Load weighted efficiency. Multiple heat pumps of different efficiencies roll up into a single load weighted COP and EER, which is the basis for the renewable portion of thermal energy delivered by the GSHP loop system and pump
- Water heating included. If the system serves domestic hot water through a desuperheater or a dedicated condenser, those credits are counted.
- Multiple state methodologies. RECs are calculated differently in every market.
- Dollars, not just credits. Output includes annual credit count, revenue at today's spot price, and revenue under higher price scenarios, plus a one page valuation report you can hand to a client or a lender.
For Geothermal Loop Installers and HVAC Contractors:
You do not need a commissioned system to get a GREC estimate.. Feed in the design loads and equipment selections from your proposal/quote, and the calculator returns the projected annual GREC revenue for that project.
That turns a credit stream into a line item in your sales conversation. A geothermal bid that costs more upfront than a conventional system looks different when the customer can see recurring credit income next to the energy savings.
For systems already running, the same tool sizes what you should have been earning, and our desk will walk you through registration and any historical credits still available in the registry.
Click Here to Get Your GREC Estimate Today:
https://www.flettexchange.com/models/geothermal-rec-calculator
Next steps
Geothermal Investors (Residential, Commercial, Municipal): Get a free GREC estimate for your geothermal system. Have your Manual J report or engineering design handy if you have one, along with your heat pump model numbers and your address. If you do not have those documents, call anyway and we will tell you what we need.
Loop installers and geothermal contractors: Run your pipeline through the calculator and put a credit revenue figure in front of your customers. There is no cost to installers. We also register systems, file the paperwork, and handle the credit sales, so the credit side does not become your problem.
Call the desk at (201) 209-0234 or email info@flettexchange.com.
Flett Exchange, LLC
95 River Street, Suite 208
Hoboken, NJ 07030
(201) 209-0234
Flett Exchange has operated environmental credit markets since 2007 and serves more than 20,000 solar and geothermal investors across New Jersey, Pennsylvania, Maryland, Virginia, Washington DC, Ohio, Illinois, and the entire PJM RTO. Credit estimates are indicative and depend on program eligibility, registry approval, and market conditions.