A detailed model of the lunar regolith is analyzed to examine the feasibility of an orbital mapping of heat flow using microwave radiometers. For regolith thermal and electrical properties which are representative of Apollo findings, brightness temperature observations in the bandλ = 5–30 cm would be required for heat flow analysis. Spectral variations shortward of 5 cm are controlled primarily by the temperature dependencies of the thermal conductivity and electrical absorption within the diurnal-varying layer. For wavelengths longer than 30 cm, unwanted emission from high impedance subregolith layers can be significant and size limitations on spacecraft radiometers is a factor. Over the 5- to 30-cm band, lunation-averaged brightness temperature increases of 2–10°K are predicted for heat flow values representative of the Apollo measurements. The magnitude of this increase depends directly on the value of regolith microwave absorption. For absorption values consistent with Apollo laboratory measurements, a spectral increase of 5°K is predicted. This value is considered marginally sufficient for an orbital heat flow measurement. However, important non-heat flow effects must be accounted for. Spectral variations can occur due to surface topography and subsurface scattering. For nadir viewing, surface roughness effects are not expected to be significant and topographic effects are nearly constant with wavelength for λ > 5cm. Volume scattering due to subsurface rock fragments can cause emission darkening of 1–6°K. However, spectral variations will not be large unless the distribution of scatterer sizes is sharply skewed. For the Moon, the most serious spurious effect appears to be emissivity variations due to the near-surface density gradient. A brightness temperature decrease of 10°K is predicted from centimeter to decameter wavelengths. If the transition from porous surface fines to compacted regolith soil occurs rapidly (within the upper 3–5 cm), most of the emissivity decrease will occur in the 5- to 30-cm wavelength band. It is recommended that complementary radar measurements be utilized to augment constraints on regolith emissivity and scattering properties.