Solar Energy Systems, net

6 Months Ended

Jun. 30, 2020

Solar Energy Systems Disclosure [Abstract]

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


	June 30, 2020		December 31, 2019
Solar energy system equipment costs	$	4,829,551	$	4,510,677
Inverters	508,032		471,471
Total solar energy systems	5,337,583		4,982,148
Accumulated depreciation and amortization	(785,085)		(692,218)
Construction-in-progress	221,927		202,685
Total solar energy systems, net	$	4,774,425	$	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 $48.1 million and $41.0 million for the three months ended June 30, 2020 and 2019, respectively, and $94.5 million and $80.4 million for the six months ended June 30, 2020 and 2019. The depreciation expense was reduced by the amortization of deferred grants of $2.1 million and $2.0 million for three months ended June 30, 2020 and 2019, respectively, and $4.1 million and $4.0 million for the six months ended June 30, 2020 and 2019, respectively.