Property, plant and equipment and construction in progress

12 Months Ended

Dec. 31, 2024

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,
	2024		2023
Land	$	6,307,089	$	6,488,400
Buildings		26,033,866		26,044,551
Plant and equipment		61,089,877		66,000,977
Distribution system		40,402,691		39,546,175
Office furniture, fixtures and equipment		3,277,313		3,338,760
Vehicles		3,830,539		3,433,561
Leasehold improvements		306,545		306,545
Lab equipment		12,456		12,456
		141,260,376		145,171,425
Less accumulated depreciation		88,828,094		89,288,904
Property, plant and equipment, net	$	52,432,282	$	55,882,521
Construction in progress	$	5,143,717	$	495,471

The Company maintains insurance for loss or damage to all fixed assets that it deems susceptible to loss. During the years ended December 31, 2024, and 2023, $1,395,485 and $7,093,158, respectively, of construction in progress was placed in service. Depreciation expense was $5,855,935, $5,823,008 and $5,425,177 for the years ended December 31, 2024, 2023 and 2022, respectively.