Michigan Market Details

Market Overview

The Michigan SREC Market is a voluntary market where prices are determined by market forces. Solar owners in Michigan may be eligible to participate in the MIREC or Ohio SREC market.

The MIRECS is administered by APX, Inc., pursuant to a contract with the State of Michigan, Department of Energy, Labor & Economic Growth. MIRECS enables the retirement and trading of Michigan Renewable Energy Credits (RECs), and Michigan Incentive Renewable Energy Credits (IRECs)

The Ohio SREC Market is an open market where prices are determined by market forces. Key factors include the Alternative Compliance Penalty and supply and demand based on the Renewable Portfolio Standard (RPS). 

The Pennsylvania Tier I (PAT1) Market is an open market where market forces determine prices. Key factors include the Alternative Compliance Penalty and supply and demand based on the Renewable Portfolio Standard (RPS). This is a subsection of the Pennsylvania SREC Market open for all eligible systems located in the PJM Grid, which include all or parts of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Tennessee, Virginia, West Virginia and the District of Columbia.

CSG will register your system in the highest-priced market that your system is eligible to receive.

ACP and Market Trend

The PAT1 Market is ever changing which is reflective in the pricing for RECs. The market has been trended up throughout the 2022 energy year. The Solar Alternative Compliance Payment (SACP) is set by the RPS and can be viewed as a soft benchmark for what the REC will be valued at. The SACP (or ACP) is a fee imposed on utilities and mandated purchasers for shortfalls in REC procurement.

The Alternative Compliance Payment (ACP) for Tier I  is $45/SREC.  

Retroactivity / Eligibility Start Date

Facilities on estimates will earn credit beginning with the first full month following application submission to the PennAEPS.

REC Shelf Life

PA SRECs have a shelf life of 3 years. Example: A SREC generated in 2022 can be counted towards the 2022, 2023, or 2024 compliance periods.

SREC Crash Course: The Basics

Frequently Asked Questions

Payment Options