This analyst note offers a comprehensive analysis of the Renewable Thermal Credit (RTC) market. The market is currently estimated at approximately USD 220 million and is poised for substantial growth in the coming years. As corporations and utilities increasingly emphasize sustainability and expand their scope of decarbonization, Renewable Natural Gas (RNG) is expected to see increased use in the heating sector, with RTCs playing a pivotal role in enabling the market through the ‘book-and-claim’ mechanism. The RTC market is characterized by growing demand, driven by corporate and utility commitments to sustainability, as well as customer driven voluntary green programs.