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REVENUE | 12 Months Ended
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Dec. 31, 2022
Revenue from Contract with Customer [Abstract] |
REVENUE | REVENUE Disaggregation of Revenue The following table provides information on the disaggregation of revenue as recorded in the consolidated statements of operations (in thousands):
| Year ended December 31,
| 2022 |  | 2021 |  | 2020
Hardware revenue | $ | 310,837 |  |  | $ | 106,908 |  |  | $ | 20,662 |
Services and other revenue | 52,143 |  |  | 20,463 |  |  | 15,645 |
Total revenue | $ | 362,980 |  |  | $ | 127,371 |  |  | $ | 36,307 |
Within services and other revenue, the Company recorded revenue from project assets of $3.9 million for the year ended December 31, 2022. Partnership hardware and service revenue was $280.4 million, $107.1 million, and $20.7 million for the years ended December 31, 2022, 2021, and 2020, respectively. The following table summarizes reportable revenue by geographic regions determined based on the location of the customers (in thousands):
| Year ended December 31,
| 2022 |  | 2021 |  | 2020
United States | $ | 353,792 |  |  | $ | 127,230 |  |  | $ | 36,181 |
Rest of the world | 9,188 |  |  | 141 |  |  | 126 |
Total revenue | $ | 362,980 |  |  | $ | 127,371 |  |  | $ | 36,307 |
Remaining Performance Obligations Remaining performance obligations represent contracted revenue that has not been recognized, which includes contract liabilities (deferred revenue) and amounts that will be billed and recognized as revenue in future periods. As of December 31, 2022, the Company had $534.9 million of remaining performance obligations, and the approximate percentages expected to be recognized as revenue in the future are as follows (in thousands, except percentages):
| Total remaining performance obligations |  | Percent Expected to be Recognized as Revenue
|  | Less than one year |  | Two to five years |  | Greater than five years
Services and other revenue | $ | 322,645 |  |  | 17 | % |  | 48 | % |  | 35 | %
Hardware revenue | 212,270 |  |  | 100 | % |  | — | % |  | — | %
Total revenue | $ | 534,915 |  |  |  |  |  |  |
Contract Balances Deferred revenue primarily includes cash received in advance of revenue recognition related to energy optimization services and incentives. The following table presents the changes in the deferred revenue balance during the years ended December 31, 2022, 2021, and 2020 (in thousands):
| 2022 |  | 2021 |  | 2020
Balance as of beginning of period | $ | 37,443 |  |  | $ | 52,410 |  | $ | 20,728
Deferred revenue acquired upon business combination | 49,626 |  |  | — |  | —
Upfront payments received from customers | 206,868 |  |  | 89,951 |  | 40,481
Upfront or annual incentive payments received | 5,797 |  |  | 6,614 |  |  | 8,015 |
Revenue recognized related to amounts that were included in beginning balance of deferred revenue | (22,669) |  |  | (33,585) |  |  | (9,764) |
Revenue recognized related to amounts that were included in acquired balance of deferred revenue | (3,338) |  |  | — |  |  | — |
Revenue recognized related to deferred revenue generated during the period | (135,653) |  |  | (77,947) |  |  | (7,050) |
Balance as of end of period | $ | 138,074 |  |  | $ | 37,443 |  |  | $ | 52,410 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI https://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045 + Details
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