Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of Carrying Values and Fair Values of Debt Instruments

The carrying values and fair values of debt instruments are as follows (in thousands):

	December 31, 2021				December 31, 2020
	Carrying Value		Fair Value		Carrying Value		Fair Value
Recourse debt	$	601,684	$	518,168	$	230,660	$	230,660
Senior debt	2,269,623		2,261,071		1,722,730		1,733,767
Subordinated debt	1,160,115		1,160,432		934,386		958,880
Securitization debt	2,471,468		2,494,070		1,908,369		2,012,283
Total	$	6,502,890	$	6,433,741	$	4,796,145	$	4,935,590

Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis

At December 31, 2021 and 2020, financial instruments measured at fair value on a recurring basis, based upon the fair value hierarchy are as follows (in thousands):

	December 31, 2021
	Level 1		Level 2		Level 3		Total
Derivative assets:
Interest rate swaps	$	—	$	26,673	$	—	$	26,673
Total	$	—	$	26,673	$	—	$	26,673
Derivative liabilities:
Interest rate swaps	$	—	$	83,873	$	—	$	83,873
Total	$	—	$	83,873	$	—	$	83,873

	December 31, 2020
	Level 1		Level 2		Level 3		Total
Derivative assets:
Interest rate swaps	$	—	$	5,218	$	—	$	5,218
Total	$	—	$	5,218	$	—	$	5,218
Derivative liabilities:
Interest rate swaps	$	—	$	175,444	$	—	$	175,444
Total	$	—	$	175,444	$	—	$	175,444
Contingent consideration:
Contingent consideration:	$	—	$	—	$	4,653	$	4,653
Total	$	—	$	—	$	4,653	$	4,653

Schedule of Contingent Consideration

The following table summarizes the activity of Level 3 contingent consideration balance in the year ended December 31, 2021 (in thousands):

Balance recorded in connection with business acquisition	$	11,809
Gains recognized in earnings within sales and marketing expense	(6,030)
Payable for solar systems that have met deployment milestones	(1,126)
Balance at December 31, 2020	4,653
Change in fair value recognized in earnings within sales and marketing expense	(4,653)
Balance at December 31, 2021	$	—