Annual report pursuant to Section 13 and 15(d)

Energy Assets, Net (Tables)

v3.24.0.1
Energy Assets, Net (Tables)
 12 Months Ended
Dec. 31, 2023
Other Assets [Abstract]  
Summary of Energy Assets
Energy assets, net consisted of the following: 
December 31,
  2023 2022
Energy assets (1)
$ 2,054,145  $ 1,493,913 
Less: accumulated depreciation and amortization (364,721) (312,388)
Energy assets, net $ 1,689,424  $ 1,181,525 
(1) Includes financing lease assets (see Note 8), capitalized interest and ARO assets (see tables below). Also includes the energy asset project acquired in August 2023. See section below for additional information.
Schedule Of Depreciation And Amortization Expense Of Energy Assets
The following table sets forth our depreciation and amortization expense on energy assets, net of deferred grant amortization:
Year Ended December 31,
Location 2023 2022 2021
Cost of revenues (1)
$ 59,390  $ 49,755  $ 43,113 
(1) Includes depreciation and amortization expense on financing lease assets. See Note 8.
Capitalized Interest
The following table presents the interest costs relating to construction financing during the period of construction, which were capitalized as part of energy assets, net:
Year Ended December 31,
2023 2022 2021
Capitalized interest $ 43,561  $ 13,050  $ 2,814 
Schedule of Customer Energy Liabilities
The liabilities recognized in association with these customer energy assets were as follows:
December 31,
Location 2023 2022
Accrued expenses and other current liabilities $ 598  $ 261 
Other liabilities 41,680  27,168 
Total customer energy asset projects liability $ 42,278  $ 27,429 
Schedule Of Asset And Liabilities Retirement Obligations
The following tables sets forth information related to our ARO assets and ARO liabilities:
December 31,
Location 2023 2022
ARO assets, net Energy assets, net $ 4,800  $ 2,359 
ARO liabilities, non-current Other liabilities $ 5,960  $ 3,052 

Year Ended December 31,
2023 2022 2021
Depreciation expense of ARO assets $ 215  $ 146  $ 113 
Accretion expense of ARO liabilities $ 258  $ 146  $ 123