11. DEFERRED TAX

Deferred tax asset was a result of the accrued maintenance cost on power generation systems that can be deducted for tax purposes in the future; and difference between tax and accounting basis of cost of fixed assets which was capitalized for tax purposes and expensed as part of cost of systems in the book. Deferred tax liability arose from the difference between tax and accounting basis of net investment in sales-type leases.

As of September 30, 2011 and December 31, 2010, deferred tax asset (liability) consisted of the following:

	2011			2010
Deferred tax asset — noncurrent (accrual of system maintenance cost)	$	594,674		$	23,161

Deferred tax asset — noncurrent (depreciation of fixed assets)		27,551,658			22,571,649
Deferred tax liability — noncurrent (net investment in sales-type leases)		(36,581,966	)		(29,023,949	)
Deferred tax liability, net of deferred tax asset – noncurrent	$	(8,435,634	)	$	(6,429,139	)

Deferred tax liability — current (net investment in sales-type leases)	$	(1,563,843	)	$	(1,188,504	)