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Solar Energy Systems, net

12 Months Ended

Dec. 31, 2021

Solar Energy Systems Disclosure [Abstract]

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


	December 31,
	2021		2020
Solar energy system equipment costs	$	9,018,788	$	7,789,009
Inverters and batteries	1,127,014		934,203
Total solar energy systems	10,145,802		8,723,212
Less: accumulated depreciation and amortization	(1,267,932)		(914,551)
Add: construction-in-progress	581,826		394,127
Total solar energy systems, net	$	9,459,696	$	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 $368.0 million, $225.9 million and $167.9 million for the years ended December 31, 2021, 2020 and 2019, respectively. The depreciation expense was reduced by the amortization of deferred grants of $8.3 million, $8.2 million and $8.1 million for the years ended December 31, 2021, 2020 and 2019, respectively.