NET INVESTMENT IN SALES-TYPE LEASES

12 Months Ended

Dec. 31, 2012

Investments [Abstract]

NET INVESTMENT IN SALES-TYPE LEASES

3. NET INVESTMENT IN SALES-TYPE LEASES

Under sales-type leases, Xi’an TCH leased TRT systems to Zhangzhi with terms of 5 and 13 years, respectively; and leased CHPG systems to Tong Chuan, Shengwei, and Jing Yang Shengwei respectively for 5 years, BMPG systems to Pucheng for 15 years, BMPG systems to Shenqiu for 11 years, and a power and steam generating system from waste heat from metal refining to Erdos (five projects) for 20 years. The components of the net investment in sales-type leases as of December 31, 2012 and 2011 are as follows:

	2012			2011
Total future minimum lease payments receivable	$	380,608,263		$	415,796,738
Less: Executory cost		(113,529,216	)		(121,384,498	)
Less: Unearned interest income		(138,668,584	)		(158,110,200	)
Net investment in sales - type leases		128,410,463			136,302,040
Current portion		10,389,028			8,725,345
Noncurrent portion	$	118,021,435		$	127,576,695

As of December 31, 2012, the future minimum rentals to be received on non-cancelable sales-type leases by years are as follows:

2013	$	36,607,448
2014		28,769,009
2015		26,385,338
2016		26,385,338
2017		26,385,338
Thereafter		236,075,792
Total	$	380,608,263