Solar Energy Systems, net

9 Months Ended

Sep. 30, 2020

Solar Energy Systems Disclosure [Abstract]

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


	September 30, 2020		December 31, 2019
Solar energy system equipment costs	$	5,027,861	$	4,510,677
Inverters	531,144		471,471
Total solar energy systems	5,559,005		4,982,148
Accumulated depreciation and amortization	(833,928)		(692,218)
Construction-in-progress	254,245		202,685
Total solar energy systems, net	$	4,979,322	$	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 $49.8 million and $42.8 million for the three months ended September 30, 2020 and 2019, respectively, and $144.2 million and $123.1 million for the nine months ended September 30, 2020 and 2019, respectively. The depreciation expense was reduced by the amortization of deferred grants of $2.0 million and $2.1 million for three months ended September 30, 2020 and 2019, respectively, and $6.1 million and $6.1 million for the nine months ended September 30, 2020 and 2019, respectively.