Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments

The following table presents the detail of long-term debt, net and long-term debt, net—affiliates as recorded in the unaudited condensed consolidated balance sheets:

	Nine Months Ended September 30, 2019 Weighted Average Effective Interest Rates		As of September 30, 2019					Year Ended December 31, 2018 Weighted Average Effective Interest Rates		As of December 31, 2018
			Long-term			Current				Long-term			Current
	(in thousands, except interest rates)
Sunnova Energy Corporation
Senior secured notes	10.02	%	$	—		$	—	14.89	%	$	40,000		$	—
Convertible notes	13.34	%	—			—		12.20	%	—			15,000
Notes payable	2.97	%	—			4,924				—			—
Paid-in-kind			—			—				4,219			1,500
Deferred financing costs, net			—			—				(38		)	—
AP4
Secured term loan	5.82	%	88,197			5,923		5.25	%	101,026			3,036
Debt discount, net			(553		)	—				(202		)	—
Deferred financing costs, net			(239		)	—				(418		)	—
AP6WII
Warehouse credit facility	10.01	%	—			—		8.47	%	54,603			—
Deferred financing costs, net			—			—				(309		)	—
HELI
Solar asset-backed notes	6.57	%	213,631			8,674		6.47	%	224,835			10,522
Debt discount, net			(3,382		)	—				(4,124		)	—
Deferred financing costs, net			(5,967		)	—				(7,217		)	—
LAPH
Secured term loan	7.79	%	41,952			1,362		8.36	%	43,167			1,038
Debt discount, net			(436		)	—				(552		)	—
Deferred financing costs, net			(388		)	—				(482		)	—
EZOP
Warehouse credit facility	7.14	%	57,100			—		9.68	%	58,200			—
Debt discount, net			(2,301		)	—				—			—
TEPIH
Secured term loan	25.17	%	—			—		6.55	%	107,239			3,356
Debt discount, net			—			—				(62		)	—
Deferred financing costs, net			—			—				(4,892		)	—
TEPIIH
Warehouse credit facility	6.50	%	204,332			—		8.41	%	57,552			—
Debt discount, net			(2,366		)	—				(1,710		)	—
Deferred financing costs, net			—			—				(1,612		)	—
HELII
Solar asset-backed notes	5.78	%	241,309			13,005		5.60	%	253,687			9,013
Debt discount, net			(50		)	—				(55		)	—
Deferred financing costs, net			(6,077		)	—				(6,425		)	—
RAYSI
Solar asset-backed notes	5.50	%	129,636			5,962				—			—
Debt discount, net			(1,588		)	—				—			—
Deferred financing costs, net			(4,863		)	—				—			—
HELIII
Solar loan-backed notes	4.01	%	140,530			19,554				—			—
Debt discount, net			(2,557		)	—				—			—
Deferred financing costs, net			(2,426		)	—				—			—
TEPH
Warehouse credit facility	7.81	%	33,575			—				—			—
Debt discount, net			(700		)	—				—			—
Total			$	1,116,369		$	59,404			$	916,430		$	43,465

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

Fair Values of Long-Term Debt.    The fair values of our long-term debt and the corresponding carrying amounts are as follows:

	As of September 30, 2019				As of December 31, 2018
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
	(in thousands)
Sunnova Energy Corporation senior secured notes	$	—	$	—	$	44,219	$	43,781
Sunnova Energy Corporation convertible notes	—		—		16,500		16,442
Sunnova Energy Corporation notes payable	4,924		4,924		—		—
AP4 secured term loan	94,120		94,120		104,062		104,062
AP6WII warehouse credit facility	—		—		54,603		54,603
HELI solar asset-backed notes	222,305		225,385		235,357		229,766
LAPH secured term loan	43,314		43,314		44,205		44,205
EZOP warehouse credit facility	57,100		57,100		58,200		58,200
TEPIH secured term loan	—		—		110,595		110,595
TEPIIH warehouse credit facility	204,332		204,332		57,552		57,552
HELII solar asset-backed notes	254,314		289,799		262,700		274,857
RAYSI solar asset-backed notes	135,598		146,116		—		—
HELIII solar loan-backed notes	160,084		165,534		—		—
TEPH warehouse credit facility	33,575		33,575		—		—
Total (1)	$	1,209,666	$	1,264,199	$	987,993	$	994,063

(1) Amounts exclude the net deferred financing costs and net debt discounts of $33.9 million and $28.1 million as of September 30, 2019 and December 31, 2018, respectively.