PJM Geothermal REC Market Overview for
Partners
Market Details
Market Overview
The PJM Geothermal REC market encompasses various renewable energy technology types including demand side management and energy efficiency which would include geothermal heat pumps. These pumps, intended for use in HVAC applications, have a measure life of 15 years and are eligible for replacement on burnout, new construction, or early replacement projects.
The quantity of RECs is based on the energy efficiency of a system. A System will generate a set number of RECs annually based on the total conditioned square footage, the type of heating system being replaced, water heater type, and other home energy efficiency factors.
Eligibility
For residential systems, purchase high-efficiency CAC, ASHP, GSHP, PTAC, or PTHP. Claim cooling savings through Manual J calculations or ENERGY STAR procedures. Properly sized baseline systems are exempt from savings claims.
For industrial or commercial systems to qualify, geothermal heat pump systems must be high-efficiency and meet or exceed the energy efficiency requirements of the International Energy Conservation Code (IECC) 2015, Table 403.2.3(1). Retrofit scenarios cover various applications in existing or new non-residential buildings.
Retroactivity / Eligibility Start Date
Facilities on estimates will earn credit beginning with the first full month following application submission and we can register systems installed after 1/1/2017.
Referral Payments for Installers
As a partner you will receive a set price per ton referral bonus for information sharing and converting your customer to be our registered customers. CSG is currently offering $100/ton. Referral Payments are sent quarterly.
Example:
| Ton | $/tonReferred | Total Referral Earnings |
| 6 | $100 | $600.00 |
Contract Options for Customers
Full Upfront - One Upfront Lump-Sum Payment
This option is one payment upfront. This is a “pre-payment” for 25 years of GRECs generated. We calculate this payment based on the size of the system and the energy efficiency of a system. Determining factors include the total conditioned square footage, the type of heating system being replaced, water heater type, and other home energy efficiency factors. Payment is made in full within 30 days of all registrations being approved.
Registration
Overview of the Process and Timeline
The registration process will begin after a system has been installed and inspected and the system owner has signed a REC contract with Carbon Solutions Group. Carbon Solutions Group will register the system with PJM GATS (A REC generating and tracking system). This process generally takes between 4-6 weeks. Payment to the customer is net 30 from the system registration date in PJM GATS.
Information/Documentation Requirements
- System Details
- Owner and Installer Affidavits
- Local building permit final approval and/or proof of paid invoice
- System Specs (typically on the proposal/sales contract)
- ClimateMaster Saving Calculator (Residential) or CSG calculator in portal
- Installer’s Engineering Study (Non-residential)
- Certificate of Good Standing if the owner is a corporation
- System Photo
- Cut sheets for original and GHP equipment
We appreciate the opportunity to work with you.
Carbon Solutions Group Contact Information
Phone: 888-316-GREC
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