Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.22.1
Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2022
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 March 31,
2022 2021
Customer agreements $ 190,502  $ 157,830 
Incentives 19,190  16,766 
Customer agreements and incentives 209,692  174,596 
Solar energy systems 199,999  89,050 
Products 86,093  71,148 
Solar energy systems and product sales 286,092  160,198 
Total revenue $ 495,784  $ 334,794 
Schedule of Cash and Restricted Cash Cash and restricted cash consists of the following (in thousands):
Three Months Ended March 31,
    2022 2021
Beginning of period:
   Cash $ 617,634  $ 519,965 
   Restricted cash, current and long-term 232,797  188,243 
Total $ 850,431  $ 708,208 
End of period:
   Cash $ 629,161  $ 649,493 
   Restricted cash, current and long-term 233,454  163,940 
Total $ 862,615  $ 813,433 
Schedule of Cash and Restricted Cash Cash and restricted cash consists of the following (in thousands):
Three Months Ended March 31,
    2022 2021
Beginning of period:
   Cash $ 617,634  $ 519,965 
   Restricted cash, current and long-term 232,797  188,243 
Total $ 850,431  $ 708,208 
End of period:
   Cash $ 629,161  $ 649,493 
   Restricted cash, current and long-term 233,454  163,940 
Total $ 862,615  $ 813,433 
Schedule of Accounts Receivable, Net Accounts receivable, net, consists of the following (in thousands):
    March 31, 2022   December 31, 2021
Customer receivables $ 199,816  $ 147,371 
Other receivables 12,249  9,701 
Allowance for credit losses (11,516) (11,035)
Total $ 200,549  $ 146,037 
Schedule of Deferred Revenue The opening balance of deferred revenue was $799.3 million as of December 31, 2020. Deferred revenue consists of the following (in thousands):
  March 31, 2022 December 31, 2021
Under Customer Agreements:
Payments received, net $ 663,750  $ 645,439 
Financing component balance 60,231  58,517 
723,981  703,956 
Under SREC contracts:
Payments received, net 160,730  161,575 
Financing component balance 9,247  8,080 
169,977  169,655 
Total $ 893,958  $ 873,611