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Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
Details of restricted cash The following table presents the detail of restricted cash as recorded in other current assets and other assets in the consolidated balance sheets:
As of December 31,
20222021
(in thousands)
Debt and inverter reserves$132,634 $67,633 
Tax equity reserves46,684 79,378 
Other5,999 1,785 
Total (1)$185,317 $148,796 

(1) Of this amount, $51.7 million and $80.2 million is recorded in other current assets as of December 31, 2022 and 2021, respectively.
Changes in the allowance for credit losses The following table presents the changes in the allowance for credit losses recorded against accounts receivable—trade, net in the consolidated balance sheets:
Year Ended 
 December 31,
20222021
(in thousands)
Balance at beginning of period$1,044 $912 
Provision for current expected credit losses2,858 1,956 
Write off of uncollectible accounts(2,490)(1,997)
Recoveries264 173 
Balance at end of period$1,676 $1,044 
The following table presents the changes in the allowance for credit losses related to customer notes receivable as recorded in the consolidated balance sheets:

Year Ended 
 December 31,
20222021
(in thousands)
Balance at beginning of period$41,138 $17,668 
Provision for current expected credit losses (1)40,074 23,470 
Recoveries36 — 
Balance at end of period$81,248 $41,138 

(1)    In addition, we recognized $86,000 and $209,000 during the years ended December 31, 2022 and 2021, respectively, of provision for current expected credit losses related to our long-term receivables for our customer leases.
Schedule of inventory The following table presents the detail of inventory as recorded in other current assets in the consolidated balance sheets:
As of December 31,
20222021
(in thousands)
Modules and inverters$32,798 $60,661 
Energy storage systems and components74,968 43,071 
Homebuilder construction in progress43,116 23,642 
Meters and modems1,166 581 
Other65 — 
Total$152,113 $127,955 
Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis
The following tables present our financial instruments measured at fair value on a recurring basis as of December 31, 2022 and 2021:

As of December 31, 2022
TotalLevel 1Level 2Level 3
(in thousands)
Financial assets:
Investments in solar receivables$72,171 $— $— $72,171 
Derivative assets112,712 — 112,712 — 
Total$184,883 $— $112,712 $72,171 
Financial liabilities:
Contingent consideration$26,787 $— $— $26,787 
Total$26,787 $— $— $26,787 

As of December 31, 2021
TotalLevel 1Level 2Level 3
(in thousands)
Financial assets:
Investments in solar receivables$82,658 $— $— $82,658 
Derivative assets14,351 — 14,351 — 
Total$97,009 $— $14,351 $82,658 
Financial liabilities:
Contingent consideration$67,895 $— $— $67,895 
Derivative liabilities5,330 — 5,330 — 
Total$73,225 $— $5,330 $67,895 
Schedule of Changes in Fair Value of Financial Assets on a Recurring Basis The following table summarizes the change in the fair value of our financial assets accounted for at fair value on a recurring basis using Level 3 inputs as recorded in other current assets and other assets (see Note 5, Detail of Certain Balance Sheet Captions) in the consolidated balance sheets:
Year Ended 
 December 31,
20222021
(in thousands)
Balance at beginning of period$82,658 $— 
Additions— 84,307 
Settlements(11,581)(4,052)
Gain recognized in earnings1,094 2,403 
Balance at end of period$72,171 $82,658 
Schedule of changes in fair value of liabilities accounted for an a recurring basis The following table summarizes the change in the fair value of our financial liabilities
accounted for at fair value on a recurring basis using Level 3 inputs as recorded in other long-term liabilities in the consolidated balance sheets:

Year Ended 
 December 31,
20222021
(in thousands)
Balance at beginning of period$67,895 $— 
Additions— 90,400 
Settlements(16,014)— 
Gain recognized in earnings(25,094)(22,505)
Balance at end of period$26,787 $67,895 

The following table summarizes the significant unobservable inputs used in the valuation of our liabilities using Level 3 inputs:

Unobservable
Input		Weighted
Average
Liabilities:
Contingent consideration - installation earnoutVolatility35.00%
Revenue risk premium15.70%
Risk-free discount rate4.36%
Contingent consideration - microgrid earnoutProbability of success25.00%
Risk-free discount rate4.36%

Significant increases or decreases in the volatility, revenue risk premium, probability of success or risk-free discount rate in isolation could result in a significantly higher or lower fair value measurement.
Disaggregation of revenue
The following table presents the detail of revenue as recorded in the consolidated statements of operations:

Year Ended 
 December 31,
202220212020
(in thousands)
PPA revenue$104,563 $86,087 $65,760 
Lease revenue100,070 71,784 51,650 
Inventory sales revenue195,979 — — 
Solar renewable energy certificate revenue48,698 41,537 35,747 
Cash sales revenue72,425 27,176 — 
Loan revenue18,601 7,768 3,032 
Other revenue17,354 7,400 4,631 
Total$557,690 $241,752 $160,820 
Deferred revenue schedule The following table presents the detail of deferred revenue as recorded in other current liabilities and other long-term liabilities in the consolidated balance sheets:
As of December 31,
20222021
(in thousands)
Loans$586,128 $275,681 
PPAs and leases24,893 17,274 
Solar receivables4,602 4,864 
Total (1)$615,623 $297,819 

(1) Of this amount, $30.2 million and $15.3 million is recorded in other current liabilities as of December 31, 2022 and 2021, respectively.
Schedule of intangible assets The following table presents the detail of intangible assets as recorded in other assets in the consolidated balance sheets:
As of December 31,
Useful Lives20222021
(in years)(in thousands)
Customer relationships - system sales10$145,496 $145,496 
Customer relationships - servicing103,471 3,471 
Customer relationships - new customers429,761 29,761 
Trade name1511,899 11,899 
Tax equity commitment421,209 21,209 
Software license3331 331 
Trademark368 68 
Other3521 88 
Intangible assets, gross212,756 212,323 
Less: accumulated amortization(50,244)(21,803)
Intangible assets, net$162,512 $190,520 
Schedule of amortization expense related to intangible assets
As of December 31, 2022, amortization expense related to intangible assets to be recognized is as follows:

Amortization
Expense
(in thousands)
2023$28,577 
202428,577 
202519,020 
202615,690 
202715,690 
2028 and thereafter54,958 
Total$162,512 
Changes in deferred financing costs The following table presents the changes in net deferred financing costs:
Year Ended 
 December 31,
20222021
(in thousands)
Balance at beginning of period$56,056 $39,792 
Capitalized34,109 30,314 
Amortized(13,640)(14,050)
Balance at end of period$76,525 $56,056