Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

Schedule of reconciliation of cash, cash equivalents, and restricted cash

The following table provides a reconciliation of Cash and Cash Equivalents and Restricted Cash in the Unaudited Condensed Consolidated Balance Sheets to the total amount shown in the Unaudited Consolidated Statements of Cash Flows:

	As of
(Amounts in thousands)	March 31, 2023		March 31, 2022
Cash and cash equivalents	$	172,797	$	333,461
Restricted cash	33,128		150
Total cash, cash equivalents, and restricted cash	$	205,925	$	333,611

Changes in financing receivables for accounting standards update

The following table presents the changes in the allowance for credit losses recorded against accounts receivable, net in the Unaudited Condensed Consolidated Balance Sheets:

	As of
(Amounts in thousands)	March 31, 2023
Balance at beginning of period	$	12,164
Impact of ASC 326 adoption	(1,285)
Provision for current expected credit losses	(523)
Balance at end of period	$	10,356

Property and equipment, schedule of useful lives

Depreciation is calculated using the straight-line method, based upon the following estimated useful lives:

Equipment	5 years
Furniture and fixtures	3 years
Computer and related equipment	2 years
Software	2 years
Vehicles	5 years
Leasehold improvements	Lesser of useful life of the asset or remaining life of the lease

Property and equipment consisted of the following at March 31, 2023 and December 31, 2022:

	As of
(Amounts in thousands)	March 31, 2023		December 31, 2022
Solar energy systems	$	494,008	$	401,754
Less accumulated depreciation	(11,989)		(5,928)
Solar energy systems, net	$	482,019	$	395,826
Equipment	$	47	$	48
Furniture and fixtures	294		294
Computers	239		222
Software	—		6
Leasehold improvements	65		65
Gross other property and equipment	645		635
Less accumulated depreciation	(336)		(293)
Other property and equipment, net	$	309	$	342
Property and equipment, net	$	482,328	$	396,168

Disaggregation of revenue

The following table presents the detail of the Company’s revenues as recorded in the Unaudited Condensed Consolidated Statements of Operations for the three months ended March 31, 2023:

	3 Months Ended
(Amounts in thousands)	March 31, 2023
PPA revenue	$	7,127
SLA revenue	7,922
Solar renewable energy credit revenue	1,535
Government incentives	24
Servicing revenue	113
Intangibles amortization	443
Other revenue	931
Total	$	18,095

Schedule of accrued warranty liability

The following is a roll-forward of the Company’s accrued warranty liability:

	For the Three Months Ended
(Amounts in thousands)	March 31, 2023		March 31, 2022
Balance at the beginning of the period	$	1,125	$	2,547
Accrual for warranties issued	—		28
Transfer of inventory to servicers	(498)		—
Warranty fulfillment charges	—		(172)
Balance at the end of the period	$	627	$	2,403

Impact of adoption of ASU 2016-13

The following table presents the impact of the adoption of ASU No. 2016-13 on the Unaudited Condensed Consolidated Balance Sheets:

(Amounts in thousands)	Accounts receivable, net
Balance at beginning of period (pre-ASC 326 adoption)	$	8,336
Impact of ASC 326 adoption	1,285
Balance at beginning of period (post-ASC 326 adoption)	$	9,621