Solar Energy Systems, Net

12 Months Ended

Dec. 31, 2015

Solar Energy Systems Disclosure [Abstract]

Note 6. Solar Energy Systems, net

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

	December 31,
	2015			2014
Solar energy system equipment costs	$	1,846,103		$	1,406,478
Inverters		177,202			123,910
Initial direct costs		68,280			40,307
Total solar energy systems		2,091,585			1,570,695
Less: accumulated depreciation and amortization		(212,671	)		(143,028	)
Add: construction-in-progress		113,107			56,584
Total solar energy systems, net	$	1,992,021		$	1,484,251

All solar energy systems, construction-in-progress, and inverters have been leased to or are subject to a signed Customer Agreement with customers. The Company recorded depreciation expense related to solar energy systems of $70.7 million, $54.7 million and $40.0 million for the years ended December 31, 2015, 2014 and 2013, respectively. The depreciation expense was reduced by the amortization of deferred grants of $14.2 million, $13.9 million and $13.4 million for the years ended December 31, 2015, 2014 and 2013, respectively.