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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of reconciliation of cash, cash equivalents, and restricted cash

The following table provides a reconciliation of cash and cash equivalents and restricted cash reflected on the consolidated balance sheets to the total amounts shown within the consolidated statements of cash flows for each year:

			As of December 31,
(Amounts in thousands)			2023						2022
Cash and cash equivalents			$	141,354					$	220,321
Restricted cash			31,587						19,823
Total cash, cash equivalents and restricted cash			$	172,941					$	240,144

Restrictions on Cash and Cash Equivalents

The following table provides a reconciliation of cash and cash equivalents and restricted cash reflected on the consolidated balance sheets to the total amounts shown within the consolidated statements of cash flows for each year:

			As of December 31,
(Amounts in thousands)			2023						2022
Cash and cash equivalents			$	141,354					$	220,321
Restricted cash			31,587						19,823
Total cash, cash equivalents and restricted cash			$	172,941					$	240,144

Changes in financing receivables for accounting standards update

The following table presents the changes in the allowance for credit losses recorded within accounts receivable, net on the consolidated balance sheets:

			As of December 31,
(Amounts in thousands)			2023
Balance at the beginning of the period			$	12,164
Impact of ASC 326 adoption			(1,285)
Write-off of uncollectible accounts			(11,447)
Provision recognized upon valuation of assets acquired			420
Provision for current expected credit losses			1,841
Balance at the end of the period			$	1,693

Property and equipment, schedule of useful lives

Depreciation is calculated using the straight-line method, based upon the following estimated useful lives:

Equipment			5 years
Furniture and fixtures			3 years
Computer and related equipment			2 years
Software			2 years
Vehicles			5 years
Leasehold improvements			Lesser of useful life of the asset or remaining life of the lease

Property and equipment consisted of the following as of December 31, 2023 and 2022:

			As of December 31,
(Amounts in thousands)			2023						2022
Solar energy systems			$	513,526					$	401,754
Less: Accumulated depreciation			(29,594)						(5,928)
Solar energy systems, net			$	483,932					$	395,826
Equipment			$	157					$	48
Furniture and fixtures			461						294
Computers and related equipment			218						222
Software			8						6
Leasehold improvements			59						65
Gross other property and equipment			903						635
Less: Accumulated depreciation			(429)						(293)
Other property and equipment, net			$	474					$	342
Property and equipment, net			$	484,406					$	396,168

Schedule of accrued warranty liability

The following is a roll forward of the Company’s accrued warranty liability:

			As of December 31,
(Amounts in thousands)			2023						2022
Balance at the beginning of the period			$	1,125					$	2,547
Accrual for warranties issued			—						116
Transfer of inventory to servicers			(498)						—
Accrual related to World Energy			(25)						—
Changes in estimates for preexisting warranties			—						(955)
Warranty fulfillment charges			—						(583)
Balance at the end of the period			$	602					$	1,125

Disaggregation of revenue

The following table presents the detail of the Company’s revenues as reflected within the consolidated statements of

operations for the years ended December 31, 2023 and 2022:

						Years Ended December 31,
(Amounts in thousands)						2023						2022
PPA revenues						$	36,360					$	8,756
SLA revenues						28,462						11,270
Solar renewable energy credit revenues						7,219						1,576
Government incentives						254						245
Servicing revenues						767						770
Intangibles amortization, unfavorable solar renewable energy agreements						3,593						—
Other revenue						3,204						577
Total						$	79,859					$	23,194

Impact of adoption of ASU 2016-13

The following table presents the impact of the adoption of ASU 2016-13 on the consolidated balance sheets as of January 1, 2023:

(Amounts in thousands)						Accounts Receivable, Net
Balance at the beginning of the period (pre-ASC 326 adoption)						$	8,336
Impact of ASC 326 adoption						1,285
Balance at the beginning of the period (post-ASC 326 adoption)						$	9,621

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