Solar Energy Systems, net

3 Months Ended

Mar. 31, 2021

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, 2021		December 31, 2020
Solar energy system equipment costs	$	8,127,259	$	7,839,427
Inverters	915,778		883,785
Total solar energy systems	9,043,037		8,723,212
Accumulated depreciation and amortization	(1,000,558)		(914,551)
Construction-in-progress	417,964		394,127
Total solar energy systems, net	$	8,460,443	$	8,202,788

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 $87.4 million and $46.4 million for the three months ended March 31, 2021 and 2020, respectively. The depreciation expense was reduced by the amortization of deferred grants of $2.1 million and $2.0 million for three months ended March 31, 2021 and 2020, respectively.