Thermoluminescence is investigated as a possible cause of transient lunar events. Energy derived from earthshine, or from solar particle and electromagnetic radiation, could be stored in surface traps and released after sunrise to yield observable thermal glow. Glow curves are computed using the actual lunar heating rates applied to materials whose parameters describe the range of all solids. The glow intensities of some possible materials are found to exceed the scattered solar background up to several days after sunrise. Of ninety‐seven recent events, one‐third occurred in the first 24 hours after dawn. However, two observational effects increase the apparent frequency of dawn events so that the data neither support nor contradict the hypothesis of thermal glow. Other possible mechanisms for lunar glow, i.e. internal effects, photon‐stimulated luminescence, and cryoluminescence, are briefly discussed. It is shown that the Aristarchus events were probably caused by internal effects.