Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.22.2.2
Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 30, 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 September 30, Nine Months Ended September 30,
2022 2021 2022 2021
Customer agreements $ 234,219  $ 194,924  $ 656,724  $ 549,689 
Incentives 36,992  36,945  84,065  76,250 
Customer agreements and incentives 271,211  231,869  740,789  625,939 
Solar energy systems 241,697  127,936  651,010  307,408 
Products 118,998  78,960  320,471  241,378 
Solar energy systems and product sales 360,695  206,896  971,481  548,786 
Total revenue $ 631,906  $ 438,765  $ 1,712,270  $ 1,174,725 
Schedule of Cash and Restricted Cash Cash and restricted cash consists of the following (in thousands):
Nine Months Ended September 30,
    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 $ 672,083  $ 717,593 
   Restricted cash, current and long-term 283,970  223,528 
Total $ 956,053  $ 941,121 
Schedule of Cash and Restricted Cash Cash and restricted cash consists of the following (in thousands):
Nine Months Ended September 30,
    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 $ 672,083  $ 717,593 
   Restricted cash, current and long-term 283,970  223,528 
Total $ 956,053  $ 941,121 
Schedule of Accounts Receivable, Net Accounts receivable, net, consists of the following (in thousands):
    September 30, 2022   December 31, 2021
Customer receivables $ 221,803  $ 147,371 
Other receivables 9,486  9,701 
Allowance for credit losses (12,452) (11,035)
Total $ 218,837  $ 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):
  September 30, 2022 December 31, 2021
Under Customer Agreements:
Payments received, net $ 751,090  $ 645,439 
Financing component balance 63,630  58,517 
814,720  703,956 
Under SREC contracts:
Payments received, net 182,558  161,575 
Financing component balance 9,707  8,080 
192,265  169,655 
Total $ 1,006,985  $ 873,611