Property, plant and equipment and construction in progress

12 Months Ended

Dec. 31, 2022

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,
	2022		2021
Land	$	6,488,400	$	3,316,537
Buildings		23,280,880		23,255,925
Plant and equipment		64,532,994		64,324,377
Distribution system		39,544,395		39,780,272
Office furniture, fixtures and equipment		3,109,546		3,051,814
Vehicles		2,525,576		2,079,874
Leasehold improvements		287,980		287,980
Lab equipment		12,456		12,456
		139,782,227		136,109,235
Less accumulated depreciation		87,252,682		83,162,696
Property, plant and equipment, net	$	52,529,545	$	52,946,539
Construction in progress	$	3,705,681	$	710,863

As of December 31, 2022, the Company had outstanding capital commitments of approximately $2.0 million. The Company maintains insurance for loss or damage to all fixed assets that it deems susceptible to loss. During the years ended December 31, 2022 and 2021, $297,723 and $644,224, respectively, of construction in progress was placed in service. Depreciation expense was $5,425,177 and $5,995,213 for the years ended December 31, 2022 and 2021, respectively.