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SOLAR POWER SYSTEMS, NET

12 Months Ended

Dec. 31, 2022

SOLAR POWER SYSTEMS, NET

SOLAR POWER SYSTEMS, NET

7. SOLAR POWER SYSTEMS, NET

Solar power systems, net consist of the following:

​

​	​	​	​	​
​	​	At December 31,	​	At December 31,
​		2021		2022
​	​	$	​	$
Solar power systems in operation	​	117,339	​	172,707
Solar power systems under construction	​	4,684	​	209,200
​	​	122,023	​	381,907
Accumulated depreciation	​	(13,760)	​	(17,091)
Solar power systems, net	​	108,263	​	364,816

​

The Company reclassified certain project assets of $117,560, nil and $263,710 to solar power systems during the years ended December 31, 2020, 2021 and 2022, respectively. The Company intends to operate the project assets for the purpose of generating income from the sale or storage of electricity.

Depreciation expense of solar power systems was $6,396, $11,212 and $4,074 for the years ended December 31, 2020, 2021 and 2022, respectively. Interest capitalized during development and construction of solar power systems, net was nil, nil and $18,666 for the years ended December 31, 2020, 2021 and 2022, respectively.

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- Definition

The entire disclosure for solar power systems used in the normal conduct of business. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense.

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