Solar Energy Systems, net

6 Months Ended

Jun. 30, 2021

Solar Energy Systems Disclosure [Abstract]

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


	June 30, 2021		December 31, 2020
Solar energy system equipment costs	$	8,417,182	$	7,839,427
Inverters	948,853		883,785
Total solar energy systems	9,366,035		8,723,212
Accumulated depreciation and amortization	(1,088,957)		(914,551)
Construction-in-progress	489,991		394,127
Total solar energy systems, net	$	8,767,069	$	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 $90.2 million and $48.1 million for the three months ended June 30, 2021 and 2020, respectively, and $177.6 million and $94.5 million for the six months ended June 30, 2021 and 2020, respectively. The depreciation expense was reduced by the amortization of deferred grants of $2.0 million and $2.1 million for the three months ended June 30, 2021 and 2020, respectively, and $4.1 million and $4.1 million six months ended June 30, 2021 and 2020, respectively.