Summary of Significant Accounting Policies (Tables)
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9 Months Ended |
Sep. 30, 2022 |
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| Accounting Policies [Abstract] |
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| 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):
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2022 |
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2021 |
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2022 |
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2021 |
| Customer agreements |
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$ |
234,219 |
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$ |
194,924 |
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$ |
656,724 |
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$ |
549,689 |
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| Incentives |
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36,992 |
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36,945 |
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84,065 |
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76,250 |
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| Customer agreements and incentives |
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271,211 |
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231,869 |
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740,789 |
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625,939 |
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| Solar energy systems |
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241,697 |
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127,936 |
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651,010 |
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307,408 |
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| Products |
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118,998 |
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78,960 |
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320,471 |
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241,378 |
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| Solar energy systems and product sales |
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360,695 |
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206,896 |
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971,481 |
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548,786 |
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| Total revenue |
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$ |
631,906 |
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$ |
438,765 |
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$ |
1,712,270 |
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$ |
1,174,725 |
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| Schedule of Cash and Restricted Cash |
Cash and restricted cash consists of the following (in thousands):
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Nine Months Ended September 30, |
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2022 |
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2021 |
| Beginning of period: |
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| Cash |
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$ |
617,634 |
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$ |
519,965 |
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| Restricted cash, current and long-term |
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232,797 |
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188,243 |
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| Total |
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$ |
850,431 |
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$ |
708,208 |
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| End of period: |
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| Cash |
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$ |
672,083 |
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$ |
717,593 |
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| Restricted cash, current and long-term |
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283,970 |
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223,528 |
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| Total |
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$ |
956,053 |
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$ |
941,121 |
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| Schedule of Cash and Restricted Cash |
Cash and restricted cash consists of the following (in thousands):
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Nine Months Ended September 30, |
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2022 |
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2021 |
| Beginning of period: |
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| Cash |
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$ |
617,634 |
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$ |
519,965 |
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| Restricted cash, current and long-term |
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232,797 |
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188,243 |
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| Total |
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$ |
850,431 |
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$ |
708,208 |
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| End of period: |
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| Cash |
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$ |
672,083 |
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$ |
717,593 |
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| Restricted cash, current and long-term |
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283,970 |
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223,528 |
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| Total |
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$ |
956,053 |
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$ |
941,121 |
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| Schedule of Accounts Receivable, Net |
Accounts receivable, net, consists of the following (in thousands):
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September 30, 2022 |
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December 31, 2021 |
| Customer receivables |
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$ |
221,803 |
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$ |
147,371 |
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| Other receivables |
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9,486 |
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9,701 |
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| Allowance for credit losses |
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(12,452) |
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(11,035) |
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| Total |
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$ |
218,837 |
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$ |
146,037 |
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| Schedule of Deferred Revenue |
The opening balance of deferred revenue was $799.3 million as of December 31, 2020. Deferred revenue consists of the following (in thousands):
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September 30, 2022 |
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December 31, 2021 |
| Under Customer Agreements: |
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| Payments received, net |
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$ |
751,090 |
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$ |
645,439 |
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| Financing component balance |
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63,630 |
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58,517 |
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814,720 |
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703,956 |
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| Under SREC contracts: |
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| Payments received, net |
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182,558 |
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161,575 |
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| Financing component balance |
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9,707 |
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8,080 |
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192,265 |
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169,655 |
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| Total |
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$ |
1,006,985 |
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$ |
873,611 |
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