Property, plant and equipment and construction in progress

12 Months Ended

Dec. 31, 2020

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,
	2020		2019
Land	$	3,566,537	$	3,566,537
Buildings		23,250,843		23,176,106
Plant and equipment		63,734,860		64,840,636
Distribution system		39,149,063		36,538,614
Office furniture, fixtures and equipment		3,079,362		3,038,589
Vehicles		1,999,463		1,582,053
Leasehold improvements		274,230		272,092
Lab equipment		12,456		14,958
		135,066,814		133,029,585
Less accumulated depreciation		77,378,830		71,790,833
Property, plant and equipment, net	$	57,687,984	$	61,238,752
Construction in progress	$	440,384	$	1,335,597

As of December 31, 2020, the Company had outstanding capital commitments of $29,145. The Company maintains insurance for loss or damage to all fixed assets that it deems susceptible to loss. The Company does not insure its underground distribution system as the Company considers the possibility of material loss or damage to this system to be remote. During the years ended December 31, 2020 and 2019, $1,653,501 and $7,755,375, respectively, of construction in progress was placed in service. Depreciation expense was $6,335,489 and $5,510,336 for the years ended December 31, 2020 and 2019, respectively.