MIRECS stores and publicly displays renewable energy generator and project information. MIRECS also facilitates independent third-party certification and auditing of renewable energy generator projects as well as certificate retirement records.
Once a generating asset is registered and appropriate certificate documentation, affidavits and attestations are uploaded, the MIRECS administrator will issue one Renewable Energy Credit or Advanced Cleaner Energy Credit for each megawatt-hour (MWh) of eligible energy reported to MIRECS. Applicable Incentive Renewable Energy Credits will also be issued at this time. The asset owner then uses MIRECS to transfer credits to another account holder or retire the credits.
MIRECS ensures the integrity of the credits through a transaction-based data structure designed to prevent double-counting and provide full audit trail capabilities. Additionally, MIRECS provides numerous publicly accessible reports that list Account Holders, the status of generators and projects, and information about both issued and retired certificates.