Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.20.2
Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 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 September 30, Nine Months Ended September 30,
2020 2019 2020 2019
Customer agreements $ 102,213  $ 89,241  $ 294,991  $ 253,046 
Incentives 12,272  7,008  24,713  35,492 
Customer agreements and incentives 114,485  96,249  319,704  288,538 
Solar energy systems 52,238  67,230  168,094  192,235 
Products 43,037  52,063  113,987  133,868 
Solar energy systems and product sales 95,275  119,293  282,081  326,103 
Total revenue $ 209,760  $ 215,542  $ 601,785  $ 614,641 
Cash and Restricted Cash Cash and restricted cash consists of the following (in thousands):
Nine Months Ended September 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 $ 276,052  $ 324,698 
   Restricted cash, current and long-term 105,462  48,714 
Total $ 381,514  $ 373,412 
Cash and Restricted Cash Cash and restricted cash consists of the following (in thousands):
Nine Months Ended September 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 $ 276,052  $ 324,698 
   Restricted cash, current and long-term 105,462  48,714 
Total $ 381,514  $ 373,412 
Accounts Receivable, Net Accounts receivable, net, consists of the following (in thousands):
    September 30, 2020   December 31, 2019
Customer receivables $ 67,849  $ 79,899 
Other receivables 2,276  23 
Rebates receivable 2,845  957 
Allowance for doubtful accounts (2,316) (3,151)
Total $ 70,654  $ 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):
  September 30, 2020 December 31, 2019
Under Customer Agreements:
Payments received, net $ 562,996  $ 558,630 
Financing component balance 50,124  44,874 
613,120  603,504 
Under SREC contracts:
Payments received, net 126,806  122,680 
Financing component balance 5,035  3,315 
131,841  125,995 
Total $ 744,961  $ 729,499