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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 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):
|  | Year Ended December 31,
|  | 2022 |  | 2021 |  | 2020
Customer agreements |  | $ | 872,298 |  |  | $ | 725,220 |  |  | $ | 432,527 |
Incentives |  | 110,749 |  |  | 101,344 |  |  | 51,633 |
Customer agreements and incentives |  | 983,047 |  |  | 826,564 |  |  | 484,160 |
Solar energy systems |  | 913,904 |  |  | 471,283 |  |  | 269,866 |
Products |  | 424,471 |  |  | 312,107 |  |  | 168,165 |
Solar energy systems and product sales |  | 1,338,375 |  |  | 783,390 |  |  | 438,031 |
Total revenue |  | $ | 2,321,422 |  |  | $ | 1,609,954 |  |  | $ | 922,191 |
Schedule of Cash and Restricted Cash | The following table provides a reconciliation of cash and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statement of cash flows. Cash and restricted cash consists of the following (in thousands):
|  | December 31,
|  | 2022 |  | 2021 |  | 2020
Cash |  | $ | 740,508 |  |  | $ | 617,634 |  |  | $ | 519,965 |
Restricted cash, current and long-term |  | 212,515 |  |  | 232,797 |  |  | 188,243 |
Total |  | $ | 953,023 |  |  | $ | 850,431 |  |  | $ | 708,208 |
Schedule of Cash and Restricted Cash | The following table provides a reconciliation of cash and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statement of cash flows. Cash and restricted cash consists of the following (in thousands):
|  | December 31,
|  | 2022 |  | 2021 |  | 2020
Cash |  | $ | 740,508 |  |  | $ | 617,634 |  |  | $ | 519,965 |
Restricted cash, current and long-term |  | 212,515 |  |  | 232,797 |  |  | 188,243 |
Total |  | $ | 953,023 |  |  | $ | 850,431 |  |  | $ | 708,208 |
Schedule of Accounts Receivable, Net | Accounts receivable, net consists of the following (in thousands):
|  | December 31,
|  | 2022 |  | 2021
Customer receivables |  | $ | 218,712 |  |  | $ | 147,371 |
Other receivables |  | 8,924 |  |  | 9,701 |
Allowance for credit losses |  | (13,381) |  |  | (11,035) |
Total |  | $ | 214,255 |  |  | $ | 146,037 |
Schedule of Property and Equipment Depreciation | Property and equipment is depreciated on a straight-line basis over the following periods:
Leasehold improvements |  | Lesser of 6 years or lease term
Furniture |  | 5 years
Computer hardware and software |  | 3 years
Machinery and equipment |  | 5 years or lease term
Automobiles |  | Lease term
Solar energy systems, net consists of the following (in thousands):
|  | December 31,
|  | 2022 |  | 2021
Solar energy system equipment costs |  | $ | 10,529,852 |  |  | $ | 9,018,788 |
Inverters and batteries |  | 1,384,776 |  |  | 1,127,014 |
Total solar energy systems |  | 11,914,628 |  |  | 10,145,802 |
Less: accumulated depreciation and amortization |  | (1,682,296) |  |  | (1,267,932) |
Add: construction-in-progress |  | 756,029 |  |  | 581,826 |
Total solar energy systems, net |  | $ | 10,988,361 |  |  | $ | 9,459,696 |
Property and equipment, net consists of the following (in thousands):
|  | December 31,
|  | 2022 |  | 2021
Machinery and equipment |  | $ | 11,742 |  |  | $ | 10,339 |
Leasehold improvements, furniture, and computer hardware |  | 44,547 |  |  | 41,209 |
Vehicles |  | 94,821 |  |  | 76,487 |
Computer software |  | 53,314 |  |  | 43,552 |
Total property and equipment |  | 204,424 |  |  | 171,587 |
Less: Accumulated depreciation and amortization |  | (136,985) |  |  | (114,701) |
Total property and equipment, net |  | $ | 67,439 |  |  | $ | 56,886 |
Schedule of Finite-Lived Intangible Assets | Finite-lived intangible assets are initially recorded at fair value and are subsequently presented net of accumulated amortization. Intangible assets are amortized on a straight-line basis over their estimated useful lives as follows:
Customer relationships |  | 5 -10 years
Trade names |  | 5 - 8 years
Intangible assets, net as of December 31, 2022 consist of the following (in thousands, except weighted average remaining life):
|  | Cost |  | Accumulated amortization |  | Carrying value |  | Weighted average remaining life (in years)
Customer relationships |  | $ | 32,770 |  |  | $ | (25,336) |  |  | $ | 7,434 |  |  | 1.8
Trade names |  | 6,990 |  |  | (6,897) |  |  | 93 |  |  | 0.3
Total |  | $ | 39,760 |  |  | $ | (32,233) |  |  | $ | 7,527 |  |  |
Intangible assets, net as of December 31, 2021 consist of the following (in thousands, except weighted average remaining life):
|  | Cost |  | Accumulated amortization |  | Carrying value |  | Weighted average remaining life (in years)
Customer relationships |  | $ | 32,770 |  |  | $ | (20,346) |  |  | $ | 12,424 |  |  | 2.7
Trade names |  | 6,990 |  |  | (6,523) |  |  | 467 |  |  | 1.3
Total |  | $ | 39,760 |  |  | $ | (26,869) |  |  | $ | 12,891 |  |  |
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):
|  | December 31,
|  | 2022 |  | 2021
Under Customer Agreements: |  |  |  |
Payments received, net |  | $ | 840,771 |  |  | $ | 645,439 |
Financing component balance |  | 65,326 |  |  | 58,517 |
|  | 906,097 |  |  | 703,956 |
Under SREC contracts: |  |  |  |
Payments received, net |  | 179,416 |  |  | 161,575 |
Financing component balance |  | 10,460 |  |  | 8,080 |
|  | 189,876 |  |  | 169,655 |
Total |  | $ | 1,095,973 |  |  | $ | 873,611 |

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