XML 23 R12.htm IDEA: XBRL DOCUMENT v3.25.1
Solar Energy Systems, net
 3 Months Ended
Mar. 31, 2025
Solar Energy Systems Disclosure [Abstract]  
Solar Energy Systems, net Solar Energy Systems, net
Solar energy systems, net consists of the following (in thousands):
March 31, 2025December 31, 2024
Solar energy system equipment costs$14,713,752 $14,258,772 
Inverters and batteries2,744,849 2,554,739 
Total solar energy systems17,458,601 16,813,511 
Less: accumulated depreciation and amortization(2,888,775)(2,732,888)
Add: construction-in-progress927,712 951,492 
Total solar energy systems, net$15,497,538 $15,032,115 
All solar energy systems, including construction-in-progress, have been leased to or are subject to signed Customer Agreements with customers. The Company recorded depreciation expense related to solar energy systems of $161.2 million and $141.7 million for the three months ended March 31, 2025 and 2024, respectively. The depreciation expense was reduced by the amortization of deferred grants of $2.8 million and $2.0 million for the three months ended March 31, 2025 and 2024, respectively.