Annual report pursuant to Section 13 and 15(d)

Solar Energy Systems, net

v3.19.3.a.u2
Solar Energy Systems, net
12 Months Ended
Dec. 31, 2019
Solar Energy Systems Disclosure [Abstract]  
Solar Energy Systems, Net Solar Energy Systems, net
Solar energy systems, net consists of the following (in thousands):
 
 
December 31,
 
 
2019
 
2018
Solar energy system equipment costs
 
$
4,510,677

 
$
3,823,853

Inverters
 
471,471

 
396,054

Total solar energy systems
 
4,982,148

 
4,219,907

Less: accumulated depreciation and amortization
 
(692,218
)
 
(535,891
)
Add: construction-in-progress
 
202,685

 
136,001

Total solar energy systems, net
 
$
4,492,615

 
$
3,820,017


All solar energy systems, including construction-in-progress, have been leased to or are subject to signed Customer Agreements with customers. The Company recorded depreciation expense related to solar energy systems of $167.9 million, $139.2 million and $112.8 million for the years ended December 31, 2019, 2018 and 2017, respectively. The depreciation expense was reduced by the amortization of deferred grants of $8.1 million, $7.8 million and $7.6 million for the years ended December 31, 2019, 2018 and 2017, respectively.