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Long-Term Debt (Tables)
12 Months Ended
Dec. 31, 2023
Debt Disclosure [Abstract]  
Schedule of long-term debt instruments The following table presents the detail of long-term debt, net as recorded in the consolidated balance sheets:
Year Ended
December 31, 2023
Weighted Average
Effective Interest
Rates
As of December 31, 2023Year Ended
December 31, 2022
Weighted Average
Effective Interest
Rates
As of December 31, 2022
Long-termCurrentLong-termCurrent
(in thousands, except interest rates)
SEI
0.25% convertible senior notes
0.71 %$575,000 $— 0.71 %$575,000 $— 
2.625% convertible senior notes
3.03 %600,000 — 3.11 %600,000 — 
Debt discount, net(19,174)— (24,324)— 
Deferred financing costs, net(748)— (920)— 
Sunnova Energy Corporation
Notes payable
7.07 %— 3,084 — — 
5.875% senior notes
6.53 %400,000 — 6.52 %400,000 — 
11.75% senior notes
12.02 %400,000 — — — 
Debt discount, net(13,288)— (3,767)— 
Deferred financing costs, net(12,119)— (7,339)— 
EZOP
Revolving credit facility8.72 %511,000 — 5.10 %500,000 — 
Debt discount, net(302)— (532)— 
HELII
Solar asset-backed notes5.64 %194,933 9,065 5.69 %204,016 8,632 
Debt discount, net(24)— (30)— 
Deferred financing costs, net(2,926)— (3,591)— 
RAYSI
Solar asset-backed notes5.55 %105,096 6,349 5.54 %105,878 9,957 
Debt discount, net(753)— (960)— 
Deferred financing costs, net(3,004)— (3,451)— 
HELIII
Solar loan-backed notes4.43 %86,232 9,983 4.42 %94,247 10,438 
Debt discount, net(1,250)— (1,536)— 
Deferred financing costs, net(1,200)— (1,474)— 
TEPH
Revolving credit facility10.03 %1,036,600 — 7.74 %425,700 — 
Debt discount, net(1,168)— (2,043)— 
SOLI
Solar asset-backed notes3.91 %335,874 12,965 3.92 %348,962 16,063 
Debt discount, net(74)— (87)— 
Deferred financing costs, net(5,769)— (6,827)— 
HELIV
Solar loan-backed notes4.16 %97,458 10,854 4.15 %105,655 11,494 
Debt discount, net(417)— (564)— 
Deferred financing costs, net(1,955)— (2,609)— 
AP8
Revolving credit facility9.42 %— 215,000 20.52 %74,535 465 
SOLII
Solar asset-backed notes3.90 %221,955 7,195 3.41 %232,276 6,409 
Debt discount, net(56)— (64)— 
Deferred financing costs, net(3,948)— (4,576)— 
HELV
Solar loan-backed notes2.49 %134,473 13,496 2.47 %143,940 14,367 
Debt discount, net(540)— (690)— 
Deferred financing costs, net(2,094)— (2,661)— 
SOLIII
Solar asset-backed notes2.81 %257,545 15,762 2.78 %275,779 16,632 
Debt discount, net(102)— (117)— 
Deferred financing costs, net(4,871)— (5,616)— 
HELVI
Solar loan-backed notes2.10 %159,901 13,521 2.08 %167,669 16,770 
Debt discount, net(32)— (40)— 
Deferred financing costs, net(2,345)— (2,909)— 
HELVII
Solar loan-backed notes2.53 %123,494 10,221 2.50 %126,856 16,058 
Debt discount, net(31)— (38)— 
Deferred financing costs, net(1,797)— (2,193)— 
HELVIII
Solar loan-backed notes3.62 %243,020 19,995 3.54 %250,014 31,099 
Debt discount, net(4,355)— (5,267)— 
Deferred financing costs, net(3,395)— (4,080)— 
SOLIV
Solar asset-backed notes5.90 %325,612 8,464 5.76 %338,251 8,080 
Debt discount, net(9,440)— (11,190)— 
Deferred financing costs, net(6,759)— (7,996)— 
HELIX
Solar loan-backed notes5.64 %196,174 15,246 5.46 %193,837 29,632 
Debt discount, net(3,027)— (3,589)— 
Deferred financing costs, net(2,798)— (3,303)— 
HELX
Solar loan-backed notes7.38 %200,842 19,996 6.23 %162,301 18,335 
Debt discount, net(17,015)— (12,459)— 
Deferred financing costs, net(3,064)— (3,319)— 
IS
Revolving credit facility8.90 %31,300 — — — 
SOLV
Solar asset-backed notes6.93 %312,844 7,775 — — 
Debt discount, net(15,491)— — — 
Deferred financing costs, net(6,682)— — — 
HELXI
Solar loan-backed notes6.29 %247,251 31,240 — — 
Debt discount, net(12,007)— — — 
Deferred financing costs, net(5,195)— — — 
HELXII
Solar loan-backed notes6.71 %210,263 26,661 — — 
Debt discount, net(13,065)— — — 
Deferred financing costs, net(4,135)— — — 
AP9
Revolving credit facility
19.30 %12,118 — — — 
Debt discount, net(572)— — — 
HESI
Solar loan-backed notes10.94 %213,432 26,625 — — 
Debt discount, net(7,616)— — — 
Deferred financing costs, net(7,058)— — — 
Total$7,030,756 $483,497 $5,194,755 $214,431 
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 December 31,
20232022
Carrying
Value
Estimated
Fair Value
Carrying
Value
Estimated
Fair Value
(in thousands)
SEI 0.25% convertible senior notes
$575,000 $528,927 $575,000 $511,733 
SEI 2.625% convertible senior notes
600,000 582,463 600,000 574,693 
Sunnova Energy Corporation notes payable
3,084 3,084 — — 
Sunnova Energy Corporation 5.875% senior notes
400,000 369,522 400,000 359,283 
Sunnova Energy Corporation 11.75% senior notes
400,000 411,996 — — 
EZOP revolving credit facility511,000 511,000 500,000 500,000 
HELII solar asset-backed notes203,998 198,590 212,648 206,045 
RAYSI solar asset-backed notes111,445 102,480 115,835 104,594 
HELIII solar loan-backed notes96,215 87,982 104,685 93,706 
TEPH revolving credit facility1,036,600 1,036,600 425,700 425,700 
SOLI solar asset-backed notes348,839 310,928 365,025 313,174 
HELIV solar loan-backed notes108,312 96,603 117,149 100,913 
AP8 revolving credit facility215,000 215,000 75,000 75,000 
SOLII solar asset-backed notes229,150 192,589 238,685 189,728 
HELV solar loan-backed notes147,969 132,533 158,307 135,408 
SOLIII solar asset-backed notes273,307 235,318 292,411 237,425 
HELVI solar loan-backed notes173,422 153,836 184,439 157,289 
HELVII solar loan-backed notes133,715 120,413 142,914 124,476 
HELVIII solar loan-backed notes263,015 241,599 281,113 252,483 
SOLIV solar asset-backed notes334,076 325,816 346,331 334,335 
HELIX solar loan-backed notes211,420 203,375 223,469 210,070 
HELX solar loan-backed notes220,838 221,655 180,636 183,165 
IS revolving credit facility31,300 31,300 — — 
SOLV solar asset-backed notes320,619 317,481 — — 
HELXI solar loan-backed notes278,491 275,323 — — 
HELXII solar loan-backed notes236,924 242,091 — — 
AP9 revolving credit facility
12,118 12,118 — — 
HESI solar loan-backed notes
240,057 249,318 — — 
Total (1)$7,715,914 $7,409,940 $5,539,347 $5,089,220 

(1) Amounts exclude the net deferred financing costs (classified as debt) and net debt discounts of $201.7 million and $130.2 million as of December 31, 2023 and 2022, respectively.
Schedule of principal maturities of our long-term debt
Principal Maturities of Long-Term Debt.    As of December 31, 2023, the principal maturities of our long-term debt were as follows:
Principal Maturities
of Long-Term Debt
(in thousands)
2024$483,497 
20251,782,383 
20261,226,422 
2027222,438 
20281,239,106 
2029 and thereafter2,762,068 
Total$7,715,914