Property, plant and equipment and construction in progress

12 Months Ended

Dec. 31, 2025

Property, plant and equipment and construction in progress

Property, plant and equipment and construction in progress

7. Property, plant and equipment and construction in progress

	December 31,
	2025		2024
Land	$	5,903,738	$	5,903,738
Land improvement		1,639,615		403,351
Buildings		27,552,216		26,033,866
Plant and equipment		59,933,437		61,089,877
Distribution system		40,639,053		40,402,691
Office furniture, fixtures and equipment		3,398,386		3,277,313
Vehicles		5,072,211		3,830,539
Leasehold improvements		306,545		306,545
Lab equipment		7,404		12,456
		144,452,605		141,260,376
Less accumulated depreciation		89,300,847		88,828,094
Property, plant and equipment, net	$	55,151,758	$	52,432,282
Construction in progress	$	6,695,656	$	5,143,717

The Company maintains insurance for loss or damage to all fixed assets that it deems susceptible to loss. During the years ended December 31, 2025, and 2024, $5,883,845 and $1,395,485, respectively, of construction in progress was placed in service. Depreciation expense was $6,128,825, $5,855,935 and $5,823,008 for the years ended December 31, 2025, 2024 and 2023, respectively.