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Investment in Sales-Type Leases, Net

6 Months Ended

Jun. 30, 2018

Investment in Sales-Type Leases, Net [Abstract]

4. INVESTMENT IN SALES-TYPE LEASES, NET

Under sales-type leases, Xi’an TCH leases the following systems: (i) BMPG systems to Pucheng Phase I and II (15 and 11 year terms, respectively); (ii) BMPG systems to Shenqiu Phase I (11-year term); and (iii) BMPG systems to Shenqiu Phase II (9.5-year term). In addition, as of June 30, 2018, Erdos TCH leased power and steam generating systems from waste heat from metal refining to Erdos (five systems) for a term of twenty years. The components of the net investment in sales-type leases as of June 30, 2018 and December 31, 2017 are as follows:

	2018			2017
Total future minimum lease payments receivable	$	214,109,061		$	222,132,929
Less: executory cost		(65,131,472	)		(67,212,769	)
Less: unearned interest		(26,622,270	)		(29,542,876	)
Less: realized interest income but not yet received		(10,295,813	)		(9,869,358	)
Less: allowance for net investment receivable		(2,586,479	)		(1,802,822	)
Investment in sales-type leases, net		109,473,026			113,705,104
Current portion		14,234,089			13,076,516
Noncurrent portion	$	95,238,937		$	100,628,588

As of June 30, 2018, the future minimum rentals to be received on non-cancelable sales-type leases by years are as follows:

2019	$	43,934,770
2020		19,852,167
2021		21,438,438
2022		22,465,382
2023		18,674,218
Thereafter		87,744,086
Total	$	214,109,061