Annual report pursuant to Section 13 and 15(d)

Solar Energy Systems, net

v3.20.4
Solar Energy Systems, net
 12 Months Ended
Dec. 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):
December 31,
2020 2019
Solar energy system equipment costs
 $ 7,839,427  $ 4,510,677 
Inverters
 883,785  471,471 
Total solar energy systems
 8,723,212  4,982,148 
Less: accumulated depreciation and amortization (914,551) (692,218)
Add: construction-in-progress 394,127  202,685 
Total solar energy systems, net
 $ 8,202,788  $ 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 $225.9 million, $167.9 million and $139.2 million for the years ended December 31, 2020, 2019 and 2018, respectively. The depreciation expense was reduced by the amortization of deferred grants of $8.2 million, $8.1 million and $7.8 million for the years ended December 31, 2020, 2019 and 2018, respectively.