v3.25.1
Property and Equipment, Net
 3 Months Ended
Mar. 31, 2025
Property, Plant and Equipment [Abstract]  
Property and Equipment, Net Property and Equipment, Net
Property and equipment, net consisted of the following as of March 31, 2025 and December 31, 2024:
As of
(Amounts in thousands)March 31, 2025December 31, 2024
Solar energy systems$642,229 $641,245 
Less: Accumulated depreciation(59,980)(52,817)
Solar energy systems, net$582,249 $588,428 
Furniture and fixtures$565 $551 
Computers and related equipment351 324 
Leasehold improvements76 30 
Gross other property and equipment992 905 
Less: Accumulated depreciation(392)(319)
Other property and equipment, net$600 $586 
Property and equipment, net$582,849 $589,014 
Cost of revenues - solar energy systems depreciation within the unaudited condensed consolidated statements of operations relates to depreciation expense of the Company’s solar energy systems, and for the three months ended March 31, 2025 and 2024, the related amounts were $7.3 million and $5.7 million, respectively. Depreciation expense related to other property and equipment is included within selling, general and administrative expenses within the unaudited condensed consolidated statements of operations, and for each of the three months ended March 31, 2025 and 2024 was $0.1 million.