v3.24.0.1
Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Property, Plant and Equipment
As of December 31, 2023 and 2022, property, plant and equipment consisted of the following:
Estimated Useful
Lives (in Years)		As of December 31,
20232022
Land—$9,377 $6,173 
Solar energy facilities
25 - 32
1,581,463 979,358 
Battery energy storage systems2012,513 3,873 
Site work155,471 5,801 
Leasehold improvements
15 - 30
7,138 7,113 
Vehicles and other equipment
3 - 5
930 609 
Construction in progress—139,452 88,717 
Property, plant and equipment1,756,344 1,091,644 
Less: Accumulated depreciation(137,297)(86,497)
Property, plant and equipment, net$1,619,047 $1,005,147 
For the years ended December 31, 2023 and 2022, depreciation expense was $51.2 million and $31.0 million, respectively, and is recorded in depreciation, amortization and accretion expense in the accompanying consolidated statements of operations.
Disposal of Property, Plant and Equipment
On June 30, 2023, the Company disposed of a solar energy facility located in New Jersey for cash consideration of $2.4 million. As of that date, the carrying amount of the net assets and liabilities of the solar energy facility was $3.0 million. As a result of the transaction, the Company recognized a loss on disposal of property, plant and equipment of $0.6 million in the consolidated statement of operations for the year ended December 31, 2023.
On August 15, 2022, the Company, through its wholly-owned subsidiary, sold land to a third party for cash consideration of $3.6 million. As of that date, the carrying amount of the land was $1.4 million. As a result of the transaction, the Company recognized a $2.2 million gain on disposal of property, plant and equipment in the consolidated statement of operations for the year ended December 31, 2022.