v3.24.0.1
Revenue and Accounts Receivable
 12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue and Accounts Receivable Revenue and Accounts Receivable
Disaggregation of operating revenues
The following table presents the detail of revenues as recorded in the consolidated statements of operations:
For the Year Ended
December 31,
20232022
Power sales under PPAs$53,516 $24,906 
Power sales under NMCAs42,006 27,162 
Power sales on wholesale markets1,756 4,146 
Total revenue from power sales97,278 56,214 
Solar renewable energy credit revenue45,542 40,502 
Rental income2,784 3,038 
Performance based incentives6,155 1,409 
Revenue recognized on contract liabilities3,403 — 
Total$155,162 $101,163 
Transaction price allocated to the remaining performance obligation
In accordance with optional exemptions available under Topic 606, the Company does not disclose the value of unsatisfied performance obligations for (1) contracts with an original expected length of one year or less, (2) with the exception of fixed consideration, contracts for which revenue is recognized at the amount to which the Company have the right to invoice for goods provided and services performed, and (3) contracts for which variable consideration relates entirely to an unsatisfied performance obligation.
Contracts with fixed consideration consist primarily of performance obligations to supply fixed quantities of SRECs. Contracts with variable volumes and/or variable pricing, including those with pricing provisions tied to a consumer price or other index, have also been excluded as the related consideration under the contract is variable at inception of the contract. Most of the Company's solar renewable energy credit revenue is related to contracts with variable consideration.
The Company expects to recognize revenue for the following amounts related to fixed consideration associated with remaining performance obligations in each of the future periods noted:
2024$14,927 
202510,682 
20265,474 
20272,088 
Total$33,171 
Accounts receivable, net
The following table presents the detail of receivables as recorded in accounts receivable, net in the consolidated balance sheets:
As of December 31,
202320222021
Power sales under PPAs$3,582 $4,092 $1,678 
Power sales under NMCAs8,094 3,183 3,322 
Power sales on wholesale markets249 223 75 
Total power sales11,925 7,498 5,075 
Solar renewable energy credits3,379 5,387 3,789 
Rental income450 429 350 
Performance based incentives1,346 129 4 
Total$17,100 $13,443 $9,218 
Payments for all accounts receivable in the above table are typically received within 30 days from invoicing.
Contract liabilities
The Company recognizes contract liabilities related to long-term agreements to sell SRECs that are prepaid by customers before SRECs are delivered. As of December 31, 2023, the Company had current and non-current contract liabilities of $2.9 million and $5.6 million, respectively. As of December 31, 2022, the Company had current and non-current contract liabilities of $2.6 million and $5.4 million, respectively. For the years December 31, 2023, and December 31, 2022, the Company recognized $3.1 million and zero of revenue that was included in the contract liability at the beginning of the period, respectively. The Company does not have any other significant contract asset or liability balances related to revenues.
Rental income
Maturities of fixed rental payments as of December 31, 2023, are as follows:
2024$558 
2025455 
2026420 
2027420 
2028420 
Thereafter4,795 
Total$7,068 
Revenue and Accounts Receivable Revenue and Accounts Receivable
Disaggregation of operating revenues
The following table presents the detail of revenues as recorded in the consolidated statements of operations:
For the Year Ended
December 31,
20232022
Power sales under PPAs$53,516 $24,906 
Power sales under NMCAs42,006 27,162 
Power sales on wholesale markets1,756 4,146 
Total revenue from power sales97,278 56,214 
Solar renewable energy credit revenue45,542 40,502 
Rental income2,784 3,038 
Performance based incentives6,155 1,409 
Revenue recognized on contract liabilities3,403 — 
Total$155,162 $101,163 
Transaction price allocated to the remaining performance obligation
In accordance with optional exemptions available under Topic 606, the Company does not disclose the value of unsatisfied performance obligations for (1) contracts with an original expected length of one year or less, (2) with the exception of fixed consideration, contracts for which revenue is recognized at the amount to which the Company have the right to invoice for goods provided and services performed, and (3) contracts for which variable consideration relates entirely to an unsatisfied performance obligation.
Contracts with fixed consideration consist primarily of performance obligations to supply fixed quantities of SRECs. Contracts with variable volumes and/or variable pricing, including those with pricing provisions tied to a consumer price or other index, have also been excluded as the related consideration under the contract is variable at inception of the contract. Most of the Company's solar renewable energy credit revenue is related to contracts with variable consideration.
The Company expects to recognize revenue for the following amounts related to fixed consideration associated with remaining performance obligations in each of the future periods noted:
2024$14,927 
202510,682 
20265,474 
20272,088 
Total$33,171 
Accounts receivable, net
The following table presents the detail of receivables as recorded in accounts receivable, net in the consolidated balance sheets:
As of December 31,
202320222021
Power sales under PPAs$3,582 $4,092 $1,678 
Power sales under NMCAs8,094 3,183 3,322 
Power sales on wholesale markets249 223 75 
Total power sales11,925 7,498 5,075 
Solar renewable energy credits3,379 5,387 3,789 
Rental income450 429 350 
Performance based incentives1,346 129 4 
Total$17,100 $13,443 $9,218 
Payments for all accounts receivable in the above table are typically received within 30 days from invoicing.
Contract liabilities
The Company recognizes contract liabilities related to long-term agreements to sell SRECs that are prepaid by customers before SRECs are delivered. As of December 31, 2023, the Company had current and non-current contract liabilities of $2.9 million and $5.6 million, respectively. As of December 31, 2022, the Company had current and non-current contract liabilities of $2.6 million and $5.4 million, respectively. For the years December 31, 2023, and December 31, 2022, the Company recognized $3.1 million and zero of revenue that was included in the contract liability at the beginning of the period, respectively. The Company does not have any other significant contract asset or liability balances related to revenues.
Rental income
Maturities of fixed rental payments as of December 31, 2023, are as follows:
2024$558 
2025455 
2026420 
2027420 
2028420 
Thereafter4,795 
Total$7,068