Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.21.2
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2021
Accounting Policies [Abstract]  
Schedule of Revenue from External Customers Revenue from external customers (including, but not limited to homeowners) for each group of similar products and services is as follows (in thousands):
Three Months Ended June 30, Six Months Ended June 30,
2021 2020 2021 2020
Customer agreements $ 196,935  $ 98,525  $ 354,765  $ 192,778 
Incentives 22,539  7,570  39,305  12,441 
Customer agreements and incentives 219,474  106,095  394,070  205,219 
Solar energy systems 90,422  44,579  179,472  115,856 
Products 91,270  30,620  162,418  70,950 
Solar energy systems and product sales 181,692  75,199  341,890  186,806 
Total revenue $ 401,166  $ 181,294  $ 735,960  $ 392,025 
Cash and Restricted Cash Cash and restricted cash consists of the following (in thousands):
Six Months Ended June 30,
    2021 2020
Beginning of period:
   Cash $ 519,965  $ 269,577 
   Restricted cash, current and long-term 188,243  93,652 
Total $ 708,208  $ 363,229 
End of period:
   Cash $ 679,588  $ 269,569 
   Restricted cash, current and long-term 178,015  84,663 
Total $ 857,603  $ 354,232 
Cash and Restricted Cash Cash and restricted cash consists of the following (in thousands):
Six Months Ended June 30,
    2021 2020
Beginning of period:
   Cash $ 519,965  $ 269,577 
   Restricted cash, current and long-term 188,243  93,652 
Total $ 708,208  $ 363,229 
End of period:
   Cash $ 679,588  $ 269,569 
   Restricted cash, current and long-term 178,015  84,663 
Total $ 857,603  $ 354,232 
Accounts Receivable, Net Accounts receivable, net, consists of the following (in thousands):
    June 30, 2021   December 31, 2020
Customer receivables $ 164,260  $ 97,723 
Other receivables 812  710 
Rebates receivable 5,145  1,569 
Allowance for credit losses (7,248) (4,861)
Total $ 162,969  $ 95,141 
Deferred Revenue The opening balance of deferred revenue was $729.5 million as of December 31, 2019. Deferred revenue consists of the following (in thousands):
  June 30, 2021 December 31, 2020
Under Customer Agreements:
Payments received, net $ 637,388  $ 614,906 
Financing component balance 55,187  51,835 
692,575  666,741 
Under SREC contracts:
Payments received, net 136,473  126,793 
Financing component balance 7,145  5,742 
143,618  132,535 
Total $ 836,193  $ 799,276