Frequently Asked Questions
How do I know if my geothermal system qualifies?
With very rare exceptions, all geothermal systems installed in Maryland during the last 20 years qualify for the renewable energy credit program. Geothermal systems installed in 2006 or older will be evaluated on a case by case basis.
How many Geothermal Renewable Energy Credits (GRECs) will my geothermal system produce in a year?
Your geothermal system will generate a set number of GRECs every year based on key details about your home. Total conditioned square footage, what type of heating was replaced (electric or fossil fuel), water heater type, and home insulation quality are the key inputs to determine the number of GRECs your home will generate on a yearly basis.
Will ClearPath need to come to my home or install monitoring equipment on my geothermal system?
No. The entire certification process is handled through electronic documents and email. No one will need to come to your home, and monitoring equipment is not required.
How do I register my geothermal system?
The first step is to complete the ClearPath Renewables enrollment form. We will reach out to you quickly to certify and register your system.
How log does it take before I start earning GREC money?
After receiving all of the required information and electronically signed documents from you and your installer, it typically takes up to 3 months to get through the entire process until your first payment.
How long will the GREC program last?
The Maryland Geothermal Renewable Energy Credit program started in 2013 and was revamped for geothermal installations in 2023. An end date to the program is not on the horizon.
How much are GRECs worth?
The value of GRECs are determined by the market and are based on supply and demand. Typical Maryland GREC values are:
GRECs (2023+ installations): $90
GRECs (2022 and older installations): $27.50
Is there a fee to enroll with ClearPath Renewables?
No, there is no fee to enroll.
Does ClearPath Renewables charge a fee to certify or register my geothermal system?
No, this service is provided free of charge.
Does ClearPath Renewables charge a fee to manage my RECs?
Yes, ClearPath Renewables charges a 5% fee for GRECs with a minimum fee of $2.50 per GREC sold.
Examples
10 GRECs sold at $90 each = $900 - $45.00 (5% fee) = $855.00 net
10 GRECs sold at $27.50 each = $275 - $25 (minimum fee) = $250 net
Will I ever owe anything to ClearPath Renewables?
No, at no time will you need to come out of pocket for services.
Can I receive a check instead of direct deposits?
No, ClearPath will not issue checks for payments. Sending checks through the mail is expensive, time consuming, and problematic. Utilizing direct deposit keeps costs down so that ClearPath’s fee is the lowest in the industry.
How does ClearPath’s fee structure compare to the industry?
ClearPath’s fees are half of the industry standard. ClearPath believes wholeheartedly in leaving as much value for the customer as possible.
What happens if/when I sell my home?
Selling or transferring your property requires the transfer of the REC rights to the new owner. Please reach out to ClearPath 30 days prior to the property transfer to initiate the transfer of REC ownership to the new owner.
What if I want to end the Customer Agreement with ClearPath Renewables?
Our customers are free to end the Customer Agreement with ClearPath Renewables at any time with 5 days prior written notice.
Are Renewable Energy Credits taxable?
ClearPath Renewables cannot provide tax advice or guidance.