Quarterly report pursuant to Section 13 or 15(d)

Inventories

v3.20.2
Inventories
9 Months Ended
Sep. 30, 2020
Inventory Disclosure [Abstract]  
Inventories Inventories
Inventories consist of the following (in thousands):
September 30, 2020 December 31, 2019
Raw materials $ 164,346  $ 239,449 
Work-in-process 13,621  21,122 
Total $ 177,967  $ 260,571 

The Internal Revenue Service (“IRS”) provided taxpayers a safe harbor opportunity to retain access to the pre-2020 30% tax credit amount through specific rules released in Notice 2018-59. The Company has sought to avail itself of the safe harbor in order to retain the 30% Commercial ITC that was available in 2019 with respect to approximately 500 MW of projects by incurring certain costs and taking title to equipment in 2019. As of September 30, 2020, there was approximately $64.6 million related to the safe harbor program within raw materials.