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Construction in Progress

12 Months Ended

Dec. 31, 2019

9.	Construction in Progress

Construction in progress as of December 31, 2018 and 2019 consisted of the following:

	December 31,		December 31,
	2018		2019
Construction in progress	$	23,562,557	$	21,613,577
Prepayment for acquisition of property, plant and equipment		1,439,256		94,047
Carrying amount	$	25,001,813	$	21,707,624

Construction in progress as of December 31, 2018 and 2019 mainly comprised capital expenditures for the construction of the facilities and production lines of CBAK Power.

For the years ended December 31, 2018 and 2019, the Company capitalized interest of $1,257,136 and $1,516,244, respectively, to the cost of construction in progress.