Quarterly report pursuant to Section 13 or 15(d)

Solar Energy Systems, net

v3.19.2
Solar Energy Systems, net
6 Months Ended
Jun. 30, 2019
Solar Energy Systems Disclosure [Abstract]  
Solar Energy Systems, net Solar Energy Systems, net
Solar energy systems, net consists of the following (in thousands):
 
 
June 30, 2019
 
December 31, 2018
Solar energy system equipment costs
 
$
4,177,481

 
$
3,823,853

Inverters
 
433,730

 
396,054

Total solar energy systems
 
4,611,211

 
4,219,907

Accumulated depreciation and amortization
 
(615,316
)
 
(535,891
)
Construction-in-progress
 
153,988

 
136,001

Total solar energy systems, net
 
$
4,149,883

 
$
3,820,017


All solar energy systems, including construction-in-progress, are subject to signed Customer Agreements with customers. The Company recorded depreciation expense related to solar energy systems of $41.0 million and $33.9 million for the three months ended June 30, 2019 and 2018, respectively, and $80.4 million and $66.2 million for the six months ended June 30, 2019 and 2018, respectively. The depreciation expense was reduced by the amortization of deferred grants of $2.0 million and $1.9 million for the three months ended June 30, 2019 and 2018, respectively, and $4.0 million and $3.8 million for the six months ended June 30, 2019 and 2018, respectively.