Thermal emission in the infrared range is important in various fields of research, including chemistry, medicine and atmospheric science. Recently, the possibility of controlling thermal emission based on wavelength-scale optical structures has been intensively investigated with a view towards a new generation of thermal emission devices. However, all demonstrations so far have involved the 'static' control of thermal emission; high-speed modulation of thermal emission has proved difficult to achieve because the intensity of thermal emission from an object is usually determined by its temperature, and the frequency of temperature modulation is limited to 10-100 Hz even when the thermal mass of the object is small. Here, we experimentally demonstrate the dynamic control of thermal emission via the control of emissivity (absorptivity), at a speed four orders of magnitude faster than is possible using the conventional temperature-modulation method. Our approach is based on the dynamic control of intersubband absorption in n-type quantum wells, which is enhanced by an optical resonant mode in a photonic crystal slab. The extraction of electrical carriers from the quantum wells leads to an immediate change in emissivity from 0.74 to 0.24 at the resonant wavelength while maintaining much lower emissivity at all other wavelengths.