Quarterly report pursuant to Section 13 or 15(d)

Solar Energy Systems, net

v3.10.0.1
Solar Energy Systems, net
9 Months Ended
Sep. 30, 2018
Solar Energy Systems Disclosure [Abstract]  
Solar Energy Systems, net
Solar Energy Systems, net
Solar energy systems, net consists of the following (in thousands):
 
 
September 30, 2018
 
December 31, 2017
Solar energy system equipment costs
 
$
3,622,735

 
$
3,124,407

Inverters
 
374,035

 
317,390

Total solar energy systems
 
3,996,770

 
3,441,797

Less: accumulated depreciation and amortization
 
(498,797
)
 
(399,280
)
Add: construction-in-progress
 
120,152

 
119,053

Total solar energy systems, net
 
$
3,618,125

 
$
3,161,570


All solar energy systems, construction-in-progress and inverters have been leased to or are subject to signed Customer Agreements with customers. The Company recorded depreciation expense related to solar energy systems of $35.6 million and $28.9 million for the three months ended September 30, 2018 and 2017, respectively, and $101.8 million and $82.1 million for the nine months ended September 30, 2018 and 2017, respectively. The depreciation expense was reduced by the amortization of deferred grants of $2.0 million and $1.9 million for the three months ended September 30, 2018 and 2017, respectively, and $5.8 million and $5.7 million for the nine months ended September 30, 2018 and 2017, respectively.