APX Inc., the leading infrastructure provider for environmental and energy markets, today announced that it has been selected to develop and manage the Michigan Renewable Energy Certification System (MIRECS) to issue, track, and enable retirement of Michigan Renewable Energy Credits (RECs), Advanced Cleaner Energy Credits (ACECs), Michigan Incentive Renewable Energy Credits (ICs) and Energy Optimization Credits (EOCs) under the state’s Clean, Renewable and Efficient Energy Act.
APX’s market platform will serve as the foundation for renewable energy certificate trading in the state of Michigan. Through its powerful, web-based system, APX infrastructure creates, tracks and enables trading of environmental credits through a unique, traceable digital certificate issued for every megawatt hour (MWh) of qualifying energy generated by facilities registered with MIRECS or imported into MIRECS. The system will also support linkages with other state and regional renewable energy market programs at launch.
“MIRECS provides the critical means to track credits for Michigan’s renewable energy standard, encourages clean energy generation at lower costs and reduces greenhouse gas emissions in Michigan,” said Orjiakor Isiogu, chairman of the Michigan Public Service Commission. “We chose APX because of its experience and proven track record.”
“With the increasing focus on renewable portfolio standards and clean energy programs at both the state and federal level, market infrastructure solutions that enable transparent REC transactions are increasingly in demand,” said Brian Storms, Chairman and CEO of APX Inc. “We are pleased that MIRECS and all other major renewable energy markets have chosen APX to support their renewable energy programs and manage their environmental assets.”
APX delivers a complete suite of solutions to enable REC market transactions including issuance and tracking of certificates, a full audit trail, and 24/7 support for all major North American renewable energy markets. These include the Mid-Atlantic (PJM GATS), New England (NEPOOL GIS), Western States (WREGIS), Midwest (M-RETS), Texas (Texas REC), and the North American Renewables Registry™ a national system for areas not covered by existing regional markets. From corporations and retailers to clean generators and utilities, APX infrastructure solutions ensure transparency, quality, security, accountability and protection against double counting.
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