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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2024
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,
|  | 2024 |  | 2023 |  | 2022
Customer agreements |  | $ | 1,388,412 |  |  | $ | 1,077,099 |  |  | $ | 872,298 |
Incentives |  | 116,815 |  |  | 109,607 |  |  | 110,749 |
Customer agreements and incentives |  | 1,505,227 |  |  | 1,186,706 |  |  | 983,047 |
Solar energy systems |  | 204,776 |  |  | 656,408 |  |  | 913,904 |
Products |  | 327,716 |  |  | 416,699 |  |  | 424,471 |
Solar energy systems and product sales |  | 532,492 |  |  | 1,073,107 |  |  | 1,338,375 |
Total revenue |  | $ | 2,037,719 |  |  | $ | 2,259,813 |  |  | $ | 2,321,422 |
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 statements of cash flows. Cash and restricted cash consists of the following (in thousands):
|  | December 31,
|  | 2024 |  | 2023 |  | 2022
Cash |  | $ | 574,956 |  |  | $ | 678,821 |  |  | $ | 740,508 |
Restricted cash, current and long-term |  | 372,460 |  |  | 309,017 |  |  | 212,515 |
Total |  | $ | 947,416 |  |  | $ | 987,838 |  |  | $ | 953,023 |
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 statements of cash flows. Cash and restricted cash consists of the following (in thousands):
|  | December 31,
|  | 2024 |  | 2023 |  | 2022
Cash |  | $ | 574,956 |  |  | $ | 678,821 |  |  | $ | 740,508 |
Restricted cash, current and long-term |  | 372,460 |  |  | 309,017 |  |  | 212,515 |
Total |  | $ | 947,416 |  |  | $ | 987,838 |  |  | $ | 953,023 |
Schedule of Accounts Receivable, Net | Accounts receivable, net consists of the following (in thousands):
|  | December 31,
|  | 2024 |  | 2023
Customer receivables |  | $ | 179,152 |  |  | $ | 186,537 |
Other receivables |  | 6,974 |  |  | 4,506 |
Allowance for credit losses |  | (15,420) |  |  | (19,042) |
Total |  | $ | 170,706 |  |  | $ | 172,001 |
Schedule of Property and Equipment, Net | 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,
|  | 2024 |  | 2023
Solar energy system equipment costs |  | $ | 14,258,772 |  |  | $ | 12,558,996 |
Inverters and batteries |  | 2,554,739 |  |  | 1,845,580 |
Total solar energy systems |  | 16,813,511 |  |  | 14,404,576 |
Less: accumulated depreciation and amortization |  | (2,732,888) |  |  | (2,165,171) |
Add: construction-in-progress |  | 951,492 |  |  | 789,466 |
Total solar energy systems, net |  | $ | 15,032,115 |  |  | $ | 13,028,871 |
Property and equipment, net consists of the following (in thousands):
|  | December 31,
|  | 2024 |  | 2023
Machinery and equipment |  | $ | 17,375 |  |  | $ | 17,216 |
Leasehold improvements, furniture, and computer hardware |  | 43,835 |  |  | 47,810 |
Vehicles |  | 159,736 |  |  | 157,486 |
Computer software |  | 56,742 |  |  | 74,636 |
Total property and equipment |  | 277,688 |  |  | 297,148 |
Less: Accumulated depreciation and amortization |  | (156,449) |  |  | (148,009) |
Total property and equipment, net |  | $ | 121,239 |  |  | $ | 149,139 |
Schedule of Obligations Under Supplier Fnance Agreements | The following is a rollforward of the obligations under these supplier finance agreements (in thousands):
Supplier finance obligations outstanding at December 31, 2022 |  | $ | — |
Proceeds from trade receivable financing |  | 41,225 |
Repayment of trade receivable financing |  | (41,225) |
Supplier finance obligations outstanding at December 31, 2023 |  | — |
Proceeds from trade receivable financing |  | 124,261 |
Repayment of trade receivable financing |  | — |
Accrued interest on trade receivable financing |  | 5,977 |
Supplier finance obligations outstanding at December 31, 2024 |  | $ | 130,238 |
Schedule of Deferred Revenue | The opening balance of deferred revenue was $1,096.0 million as of December 31, 2022. Deferred revenue consists of the following (in thousands):
|  | December 31,
|  | 2024 |  | 2023
Under Customer Agreements: |  |  |  |
Payments received, net |  | $ | 950,225 |  |  | $ | 873,137 |
Financing component balance |  | 79,731 |  |  | 72,289 |
|  | 1,029,956 |  |  | 945,426 |
Under SREC contracts: |  |  |  |
Payments received, net |  | 291,972 |  |  | 237,800 |
Financing component balance |  | 16,419 |  |  | 12,835 |
|  | 308,391 |  |  | 250,635 |
Total |  | $ | 1,338,347 |  |  | $ | 1,196,061 |

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