7. Solar Energy Systems, Leased and To Be Leased – Net

Solar energy systems, leased and to be leased – net consisted of the following (in thousands):

	As of December 31,
	2015			2014
Solar energy systems leased to customers	$	3,619,214		$	2,388,548
Initial direct costs related to customer solar energy system lease acquisition costs		383,506			207,537
		4,002,720			2,596,085
Less accumulated depreciation and amortization		(275,158	)		(159,160	)
		3,727,562			2,436,925
Solar energy systems under construction		358,010			131,048
Solar energy systems to be leased to customers		289,981			228,823
Solar energy systems, leased and to be leased - net(1)(2)	$	4,375,553		$	2,796,796

(1)	Included in solar energy systems leased to customers as of December 31, 2015 and 2014 was $66.4 million related to capital leased assets, with an accumulated depreciation of $10.6 million and $7.9 million, respectively.

(2)	Included in solar energy systems leased to customers as of December 31, 2015 and 2014 was $6.3 million and $3.5 million, respectively, related to energy storage systems with an accumulated depreciation of $0.5 million and $0.1 million, respectively.

As of December 31, 2015, future minimum lease payments to the lessor under this lease arrangement for each of the next five years and thereafter were as follows (in thousands):

2016		2,339
2017		2,353
2018		2,367
2019		2,383
2020		2,398
Thereafter		18,674
Total	$	30,514

As of December 31, 2015, future minimum lease receipts to be paid to the Company by sub-lessees under this lease arrangement for each of the next five years and thereafter were as follows (in thousands):

2016		2,444
2017		2,473
2018		2,503
2019		2,534
2020		2,566
Thereafter		31,591
Total	$	44,111

The amounts in the table above are also included as part of the noncancelable operating lease payments from customers disclosed in Note 5, Noncancelable Operating Lease Payments Receivable.