v3.26.1
Property and Equipment, Net
 3 Months Ended
Mar. 31, 2026
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, 2026 and December 31, 2025:
As of
(Amounts in thousands)March 31, 2026December 31, 2025
Solar energy systems$641,162 $642,299 
Less: Accumulated depreciation(88,561)(81,430)
Solar energy systems, net$552,601 $560,869 
Furniture and fixtures$529 $529 
Computers and related equipment306 306 
Leasehold improvements113 113 
Gross other property and equipment948 948 
Less: Accumulated depreciation(492)(429)
Other property and equipment, net$456 $519 
Property and equipment, net$553,057 $561,388 
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. For the three months ended March 31, 2026 and 2025 the related amounts were $7.3 million.
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, 2026 and 2025 was less than $0.1 million.