Quarterly report pursuant to Section 13 or 15(d)

Solar Energy Systems, net

v3.20.1
Solar Energy Systems, net
3 Months Ended
Mar. 31, 2020
Solar Energy Systems Disclosure [Abstract]  
Solar Energy Systems, net Solar Energy Systems, net
Solar energy systems, net consists of the following (in thousands):
March 31, 2020 December 31, 2019
Solar energy system equipment costs $ 4,674,992    $ 4,510,677   
Inverters 490,340    471,471   
Total solar energy systems 5,165,332    4,982,148   
Accumulated depreciation and amortization (737,808)   (692,218)  
Construction-in-progress 216,520    202,685   
Total solar energy systems, net $ 4,644,044    $ 4,492,615   
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 $46.4 million and $39.4 million for the three months ended March 31, 2020 and 2019, respectively. The depreciation expense was reduced by the amortization of deferred grants of $2.0 million for both the three months ended March 31, 2020 and 2019.