Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Schedule of Revenue from External Customers

Revenue from external customers (including, but not limited to homeowners) for each group of similar products and services is as follows (in thousands): 

	Year Ended December 31,
	2021		2020		2019
Customer agreements	$	725,220	$	432,527	$	345,486
Incentives	101,344		51,633		42,349
Customer agreements and incentives	826,564		484,160		387,835
Solar energy systems	471,283		269,866		283,429
Products	312,107		168,165		187,314
Solar energy systems and product sales	783,390		438,031		470,743
Total revenue	$	1,609,954	$	922,191	$	858,578

Schedule of Cash and Restricted Cash

The following table provides a reconciliation of cash and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statement of cash flows. Cash and restricted cash consists of the following (in thousands):

	December 31,
	2021		2020		2019
Cash	$	617,634	$	519,965	$	269,577
Restricted cash, current and long-term	232,797		188,243		93,652
Total	$	850,431	$	708,208	$	363,229

As a result of the acquisition of Vivint Solar on October 8, 2020, cash and restricted cash increased by $537.2 million.

Schedule of Cash and Restricted Cash

The following table provides a reconciliation of cash and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statement of cash flows. Cash and restricted cash consists of the following (in thousands):

	December 31,
	2021		2020		2019
Cash	$	617,634	$	519,965	$	269,577
Restricted cash, current and long-term	232,797		188,243		93,652
Total	$	850,431	$	708,208	$	363,229

As a result of the acquisition of Vivint Solar on October 8, 2020, cash and restricted cash increased by $537.2 million.

Schedule of Accounts Receivable, Net

Accounts receivable, net consists of the following (in thousands):

	December 31,
	2021		2020
Customer receivables	$	147,371	$	97,723
Rebates and other receivables	9,701		2,279
Allowance for credit losses	(11,035)		(4,861)
Total	$	146,037	$	95,141

Schedule of Property and Equipment Depreciation

Property and equipment is depreciated on a straight-line basis over the following periods:

Leasehold improvements	Lesser of 6 years or lease term
Furniture	5 years
Computer hardware and software	3 years
Machinery and equipment	5 years or lease term
Automobiles	Lease term

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

Property and equipment, net consists of the following (in thousands):

	December 31,
	2021		2020
Machinery and equipment	$	10,339	$	8,860
Leasehold improvements, furniture, and computer hardware	41,209		42,614
Vehicles	76,487		68,245
Computer software	43,552		37,997
Total property and equipment	171,587		157,716
Less: Accumulated depreciation and amortization	(114,701)		(95,534)
Total property and equipment, net	$	56,886	$	62,182

Schedule of Finite-Lived Intangible Assets

Finite-lived intangible assets are initially recorded at fair value and are subsequently presented net of accumulated amortization. Intangible assets are amortized on a straight-line basis over their estimated useful lives as follows:

Customer relationships	5 -10 years
Developed technology	5 years
Trade names	5 - 8 years

Intangible assets, net as of December 31, 2021 consist of the following (in thousands, except weighted average remaining life):

	Cost		Accumulated amortization		Carrying value		Weighted average remaining life (in years)
Customer relationships	$	32,770	$	(20,346)	$	12,424	2.7
Developed technology	6,820		(6,820)		—		—
Trade names	6,990		(6,523)		467		1.3
Total	$	46,580	$	(33,689)	$	12,891

Intangible assets, net as of December 31, 2020 consist of the following (in thousands, except weighted average remaining life):

	Cost		Accumulated amortization		Carrying value		Weighted average remaining life (in years)
Customer relationships	$	32,770	$	(15,349)	$	17,421	3.6
Developed technology	6,820		(6,820)		—		—
Trade names	6,990		(6,149)		841		2.3
Total	$	46,580	$	(28,318)	$	18,262

Schedule of Deferred Revenue

The opening balance of deferred revenue was $729.5 million as of December 31, 2019. Deferred revenue consists of the following (in thousands):

	December 31,
	2021		2020
Under Customer Agreements:
Payments received	$	645,439	$	614,906
Financing component balance	58,517		51,835
	703,956		666,741
Under SREC contracts:
Payments received	161,575		126,793
Financing component balance	8,080		5,742
	169,655		132,535
Total	$	873,611	$	799,276