Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.20.2
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Schedule of revenue from external customers
Revenue from external customers for each group of similar products and services is as follows (in thousands):
Three Months Ended June 30, Six Months Ended June 30,
2020 2019 2020 2019
Customer agreements $ 98,525    $ 85,277    $ 192,778    $ 163,805   
Incentives 7,570    7,162    12,441    28,484   
Customer agreements and incentives 106,095    92,439    205,219    192,289   
Solar energy systems 44,579    66,569    115,856    125,005   
Products 30,620    45,587    70,950    81,805   
Solar energy systems and product sales 75,199    112,156    186,806    206,810   
Total revenue $ 181,294    $ 204,595    $ 392,025    $ 399,099   
Cash and restricted cash Cash and restricted cash consists of the following (in thousands):
Six Months Ended June 30,
    2020 2019
Beginning of period:
   Cash $ 269,577    $ 226,625   
   Restricted cash, current and long-term 93,652    77,774   
Total $ 363,229    $ 304,399   
End of period:
   Cash $ 269,569    $ 299,537   
   Restricted cash, current and long-term 84,663    54,330   
Total $ 354,232    $ 353,867   
Cash and restricted cash Cash and restricted cash consists of the following (in thousands):
Six Months Ended June 30,
    2020 2019
Beginning of period:
   Cash $ 269,577    $ 226,625   
   Restricted cash, current and long-term 93,652    77,774   
Total $ 363,229    $ 304,399   
End of period:
   Cash $ 269,569    $ 299,537   
   Restricted cash, current and long-term 84,663    54,330   
Total $ 354,232    $ 353,867   
Accounts receivable, net Accounts receivable, net, consists of the following (in thousands):
    June 30, 2020   December 31, 2019
Customer receivables $ 58,201    $ 79,899   
Other receivables 968    23   
Rebates receivable 3,168    957   
Allowance for doubtful accounts (2,337)   (3,151)  
Total $ 60,000    $ 77,728   
Deferred revenue
The opening balance of deferred revenue was $591.6 million as of December 31, 2018. Deferred revenue consists of the following (in thousands):
  June 30, 2020 December 31, 2019
Under Customer Agreements:
Payments received $ 560,828    $ 558,630   
Financing component balance 48,387    44,874   
609,215    603,504   
Under SREC contracts:
Payments received 128,429    122,680   
Financing component balance 4,903    3,315   
133,332    125,995   
Total $ 742,547    $ 729,499