Solar Energy Systems, net

3 Months Ended

Mar. 31, 2020

Solar Energy Systems Disclosure [Abstract]

Solar Energy Systems, net

Solar Energy Systems, net

Solar energy systems, net consists of the following (in thousands):

	March 31, 2020		December 31, 2019
Solar energy system equipment costs	$	4,674,992	$	4,510,677
Inverters	490,340		471,471
Total solar energy systems	5,165,332		4,982,148
Accumulated depreciation and amortization	(737,808)		(692,218)
Construction-in-progress	216,520		202,685
Total solar energy systems, net	$	4,644,044	$	4,492,615

All solar energy systems, including construction-in-progress, have been leased to or are subject to signed Customer Agreements with customers. The Company recorded depreciation expense related to solar energy systems of $46.4 million and $39.4 million for the three months ended March 31, 2020 and 2019, respectively. The depreciation expense was reduced by the amortization of deferred grants of $2.0 million for both the three months ended March 31, 2020 and 2019.