v3.26.1
Summary of Significant Accounting Policies (Tables)
 6 Months Ended
Jun. 30, 2026
Accounting Policies [Abstract]  
Schedule of Revenue from External Customers
Revenue from external customers (including, but not limited to homeowners) for each group of similar products and services is as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Customer agreements$506,958 $433,439 $954,060 $814,799 
Incentives36,772 24,561 57,492 46,121 
Customer agreements and incentives543,730 458,000 1,011,552 860,920 
Energy systems290,970 37,874 503,185 77,942 
Products35,288 73,462 77,482 134,745 
Energy systems and product sales326,258 111,336 580,667 212,687 
Total revenue$869,988 $569,336 $1,592,219 $1,073,607 
Schedule of Cash and Restricted Cash
The following table provides a reconciliation of cash and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows. Cash and restricted cash consists of the following (in thousands):
Six Months Ended June 30,
20262025
Beginning of period:
   Cash $823,380 $574,956 
   Restricted cash, current and long-term413,608 372,460 
Total$1,236,988 $947,416 
End of period:
   Cash $712,425 $618,057 
   Restricted cash, current and long-term423,960 394,020 
Total$1,136,385 $1,012,077 
Schedule of Cash and Restricted Cash
The following table provides a reconciliation of cash and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows. Cash and restricted cash consists of the following (in thousands):
Six Months Ended June 30,
20262025
Beginning of period:
   Cash $823,380 $574,956 
   Restricted cash, current and long-term413,608 372,460 
Total$1,236,988 $947,416 
End of period:
   Cash $712,425 $618,057 
   Restricted cash, current and long-term423,960 394,020 
Total$1,136,385 $1,012,077 
Schedule of Accounts Receivable, Net
Accounts receivable, net consists of the following (in thousands):
June 30, 2026December 31, 2025
Customer receivables$218,389 $191,559 
System sales receivables27,273 44,419 
Grid services receivables9,000 29,800 
Other receivables6,634 17,541 
Allowance for credit losses(25,875)(20,692)
Total$235,421 $262,627 
Schedule of Deferred Revenue Deferred revenue consists of the following (in thousands):
June 30, 2026December 31, 2025
Under Customer Agreements:
Payments received, net$1,063,433 $1,047,929 
Financing component balance91,091 87,294 
1,154,524 1,135,223 
Under SREC contracts:
Payments received, net362,634 356,263 
Financing component balance26,590 21,847 
389,224 378,110 
Total$1,543,748 $1,513,333