You can create a different product display type (i.e. content type) for the renewal product (at admin/structure/types). Then you can restrict that content type to those with the members role (in admin/people/permissions).
Or, if you want to show the product display type, but restrict the actual purchase, I think you have to resort to custom code like this:
<?php
/**
* Implements hook_form_FORM_ID_alter().
*
* Alter the Commerce 'Add to Cart' form.
*/
function custom_module_form_commerce_cart_add_to_cart_form_alter(&$form, &$form_state) {
global $user;
$roles_allowed_to_buy = array(
'Some Custom Member Role',
'administrator',
);
if (!array_intersect($user->roles, $roles_allowed_to_buy)) {
// Display a help message.
$form['help'] = array(
'#markup' => t('You do not have permission to buy this product.'),
);
// Disable the whole form.
$form['#disabled'] = TRUE;
// Remove any submit button(s).
unset($form['submit']);
}
}
(that's an example you would put inside a module called custom_module)