Vivint Solar (VSLR) 10-Q 11 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 03, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	VSLR
Entity Registrant Name	Vivint Solar, Inc.
Entity Central Index Key	1,607,716
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		106,477,391

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents		$ 152,224	$ 261,649
Accounts receivable, net		5,423	1,837
Inventories		342	774
Prepaid expenses and other current assets		20,209	16,806
Total current assets		178,198	281,066
Restricted cash and cash equivalents		12,648	6,516
Solar energy systems, net		848,604	588,167
Property and equipment, net		24,403	13,024
Intangible assets, net		6,827	18,487
Goodwill		36,601	36,601
Prepaid tax asset, net		199,103	111,910
Other non-current assets, net		9,534	8,553
TOTAL ASSETS	[1]	1,315,918	1,064,324
Current liabilities:
Accounts payable		79,452	51,354
Accounts payable—related party		1,978	2,132
Distributions payable to non-controlling interests and redeemable non-controlling interests		5,805	6,780
Accrued compensation		26,087	16,794
Current portion of deferred revenue		399	314
Current portion of capital lease obligation		4,473	3,502
Accrued and other current liabilities		25,710	14,016
Total current liabilities		143,904	94,892
Capital lease obligation, net of current portion		7,851	6,176
Long-term debt		208,500	105,000
Deferred tax liability, net		168,114	112,227
Deferred revenue, net of current portion		7,132	4,466
Build-to-suit lease liability		6,600
Total liabilities	[1]	$ 542,101	$ 322,761
Commitments and contingencies (Note 15)
Redeemable non-controlling interests		$ 153,901	$ 128,427
Stockholders' equity:
Common stock, $0.01 par value—1,000,000 authorized, 106,477 shares issued and outstanding as of June 30, 2015; 1,000,000 authorized, 105,303 shares issued and outstanding as of December 31, 2014		1,065	1,053
Additional paid-in capital		525,638	502,785
Accumulated deficit		(47)	(25,849)
Total stockholders' equity		526,656	477,989
Non-controlling interests		93,260	135,147
Total equity		619,916	613,136
TOTAL LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS AND EQUITY		$ 1,315,918	$ 1,064,324
[1]	The Company’s assets as of June 30, 2015 and December 31, 2014 include $750.6 million and $540.1 million consisting of assets of variable interest entities, or VIEs, that can only be used to settle obligations of the VIEs. These assets include solar energy systems, net, of $732.5 million and $525.9 million as of June 30, 2015 and December 31, 2014; cash and cash equivalents of $12.8 million and $12.6 million as of June 30, 2015 and December 31, 2014; and accounts receivable, net, of $5.3 million and $1.5 million as of June 30, 2015 and December 31, 2014. The Company’s liabilities as of June 30, 2015 and December 31, 2014 included $13.3 million and $11.4 million of liabilities of VIEs whose creditors have no recourse to the Company. These liabilities include distributions payable to non-controlling interests and redeemable non-controlling interests of $5.8 million and $6.8 million as of June 30, 2015 and December 31, 2014; deferred revenue of $7.5 million and $4.6 million as of June 30, 2015 and December 31, 2014; and accrued and other current liabilities of $0.1 million and $0 as of June 30, 2015 and December 31, 2014. For further information see Note 10—Investment Funds.

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014
Common stock, par value		$ 0.01	$ 0.01
Common stock, shares authorized		1,000,000,000	1,000,000,000
Common stock, shares issued		106,477,000	105,303,000
Common stock, shares outstanding		106,477,000	105,303,000
Total assets	[1]	$ 1,315,918	$ 1,064,324
Solar energy systems, net		848,604	588,167
Cash and cash equivalents		152,224	261,649
Accounts receivable, net		5,423	1,837
Total liabilities	[1]	542,101	322,761
Distributions payable to non-controlling interests and redeemable non-controlling interests		5,805	6,780
Accrued and other current liabilities		25,710	14,016
Variable Interest Entities
Total assets		750,575	540,086
Solar energy systems, net		732,484	525,903
Cash and cash equivalents		12,830	12,641
Accounts receivable, net		5,261	1,542
Total liabilities		13,328	11,352
Distributions payable to non-controlling interests and redeemable non-controlling interests		5,805	6,780
Deferred revenue		7,500	4,600
Accrued and other current liabilities		$ 69	$ 0
[1]	The Company’s assets as of June 30, 2015 and December 31, 2014 include $750.6 million and $540.1 million consisting of assets of variable interest entities, or VIEs, that can only be used to settle obligations of the VIEs. These assets include solar energy systems, net, of $732.5 million and $525.9 million as of June 30, 2015 and December 31, 2014; cash and cash equivalents of $12.8 million and $12.6 million as of June 30, 2015 and December 31, 2014; and accounts receivable, net, of $5.3 million and $1.5 million as of June 30, 2015 and December 31, 2014. The Company’s liabilities as of June 30, 2015 and December 31, 2014 included $13.3 million and $11.4 million of liabilities of VIEs whose creditors have no recourse to the Company. These liabilities include distributions payable to non-controlling interests and redeemable non-controlling interests of $5.8 million and $6.8 million as of June 30, 2015 and December 31, 2014; deferred revenue of $7.5 million and $4.6 million as of June 30, 2015 and December 31, 2014; and accrued and other current liabilities of $0.1 million and $0 as of June 30, 2015 and December 31, 2014. For further information see Note 10—Investment Funds.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenue:
Operating leases and incentives	$ 15,301	$ 5,804	$ 23,881	$ 8,667
Solar energy system and product sales	834	754	1,799	1,398
Total revenue	16,135	6,558	25,680	10,065
Operating expenses:
Cost of revenue—operating leases and incentives	33,295	16,459	57,175	27,646
Cost of revenue—solar energy system and product sales	476	485	914	883
Sales and marketing	18,697	5,790	25,130	11,009
Research and development	920	500	1,502	972
General and administrative	31,364	13,752	49,994	26,106
Amortization of intangible assets	3,721	3,691	7,484	7,428
Impairment of intangible assets			4,506
Total operating expenses	88,473	40,677	146,705	74,044
Loss from operations	(72,338)	(34,119)	(121,025)	(63,979)
Interest expense	2,730	2,673	4,857	4,074
Other expense	60	277	373	1,165
Loss before income taxes	(75,128)	(37,069)	(126,255)	(69,218)
Income tax expense	14,577	2,542	23,425	6,936
Net loss	(89,705)	(39,611)	(149,680)	(76,154)
Net loss attributable to non-controlling interests and redeemable non-controlling interests	(103,358)	(45,104)	(175,482)	(88,688)
Net income available to common stockholders	$ 13,653	$ 5,493	$ 25,802	$ 12,534
Net income available per share to common stockholders:
Basic	$ 0.13	$ 0.07	$ 0.24	$ 0.17
Diluted	$ 0.12	$ 0.07	$ 0.24	$ 0.16
Weighted-average shares used in computing net income available per share to common stockholders:
Basic	105,988	75,000	105,647	75,000
Diluted	109,794	76,267	109,424	76,194

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (149,680)	$ (76,154)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	9,753	3,009
Amortization of intangible assets	7,484	7,501
Impairment of intangible assets	4,506
Stock-based compensation	20,610	816
Amortization of deferred financing costs	1,672	667
Noncash contributions for services		119
Noncash interest expense		2,877
Deferred income taxes	54,203	35,865
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable, net	(3,586)	(1,701)
Inventories	432	16
Prepaid expenses and other current assets	252	(8,928)
Prepaid tax asset, net	(87,193)	(23,800)
Other non-current assets, net	(228)	(6,271)
Accounts payable	1,051	5,091
Accounts payable—related party	(154)	(761)
Accrued compensation	3,611	(3,351)
Deferred revenue	2,751	680
Accrued and other current liabilities	10,927	6,108
Net cash used in operating activities	(123,589)	(58,217)
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments for the cost of solar energy systems	(234,050)	(150,449)
Payment in connection with business acquisition, net of cash acquired		(12,040)
Payments for property and equipment	(3,402)	(148)
Change in restricted cash and cash equivalents	(6,132)	(1,600)
Purchase of intangible assets	(329)
Proceeds from U.S. Treasury grants		190
Net cash used in investing activities	(243,913)	(164,047)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from investment by non-controlling interests and redeemable non-controlling interests	168,783	157,446
Distributions paid to non-controlling interests and redeemable non-controlling interests	(10,689)	(1,932)
Proceeds from long-term debt	103,500
Proceeds from short-term debt		75,500
Payments for debt issuance costs	(3,078)
Proceeds from revolving lines of credit—related party		114,000
Payments on revolving lines of credit—related party		(101,000)
Principal payments on capital lease obligations	(2,070)	(1,115)
Proceeds from issuance of common stock	588
Payments for deferred offering costs	(589)	(1,443)
Excess tax effects from stock-based compensation	1,632
Net cash provided by financing activities	258,077	241,456
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(109,425)	19,192
CASH AND CASH EQUIVALENTS—Beginning of period	261,649	6,038
CASH AND CASH EQUIVALENTS—End of period	152,224	25,230
NONCASH INVESTING AND FINANCING ACTIVITIES:
Costs of solar energy systems included in accounts payable, accrued compensation and other accrued liabilities	40,437	29,109
Property acquired under build-to-suit agreements	6,619	18,641
Vehicles acquired under capital leases	4,728	5,014
Accrued distributions to non-controlling interests and redeemable non-controlling interests	(975)	2,365
Solar energy system sales
NONCASH INVESTING AND FINANCING ACTIVITIES:
Receivable for tax credit recorded as a reduction to solar energy system costs	$ 1,318	$ 643

Organization

Organization	6 Months Ended
	Jun. 30, 2015
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Organization	1 . Organization Vivint Solar, Inc. was incorporated as a Delaware corporation on August 12, 2011. Vivint Solar, Inc. and its subsidiaries are collectively referred to as the “Company.” The Company commenced operations in May 2011. The Company offers solar energy to residential customers through long-term customer contracts, such as power purchase agreements and solar energy system leases. The Company enters into these long-term customer contracts and legal-form leases through a sales organization that primarily uses a direct-to-home sales model. The long-term customer contracts are typically for 20 years and require the customer to make monthly payments to the Company. In May 2015, the Company began offering solar energy systems to commercial and industrial (“C&I”) customers through long-term customer contracts. The Company has formed various investment funds to monetize the recurring customer payments under its long-term customer contracts and the investment tax credits, accelerated tax depreciation and other incentives associated with residential solar energy systems. The Company uses the cash received from the investment funds to finance a portion of the Company’s variable and fixed costs associated with installing the residential solar energy systems.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2 . Summary of Significant Accounting Policies Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, these unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s annual report on Form 10-K filed with the SEC on March 13, 2015. The unaudited condensed consolidated financial statements are prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments (all of which are considered of normal recurring nature) considered necessary to present fairly the Company’s financial results. The results of the six months ended June 30, 2015 are not necessarily indicative of the results to be expected for the fiscal year ending December 31, 2015 or for any other interim period or other future year. The condensed consolidated financial statements reflect the accounts and operations of the Company and those of its subsidiaries in which the Company has a controlling financial interest. The Company uses a qualitative approach in assessing the consolidation requirement for variable interest entities (“VIEs”). This approach focuses on determining whether the Company has the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance and whether the Company has the obligation to absorb losses, or the right to receive benefits, that could potentially be significant to the VIE. For all periods presented, the Company has determined that it is the primary beneficiary in all of its operational VIEs. The Company evaluates its relationships with the VIEs on an ongoing basis to ensure that it continues to be the primary beneficiary. All intercompany transactions and balances have been eliminated in consolidation. For additional information, see Note 10—Investment Funds. Use of Estimates The preparation of the condensed consolidated financial statements requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company regularly makes significant estimates and assumptions including, but not limited to, estimates that affect the Company’s principles of consolidation, revenue recognition, the useful lives of solar energy systems, the valuation and recoverability of intangible assets and goodwill acquired, useful lives of intangible assets, recoverability of long-lived assets, the recognition and measurement of loss contingencies, the valuation of stock-based compensation, the determination of valuation allowances associated with deferred tax assets, and the valuation of non-controlling interests and redeemable non-controlling interests. The Company bases its estimates on historical experience and on various other assumptions believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ materially from those estimates. Comprehensive Income As the Company has no other comprehensive income or loss, comprehensive income is the same as net income available to common stockholders for all periods presented. Other Changes During the six months ended June 30, 2015, the Company reassessed its reportable segments as discussed in Note 17—Segment Information. There have been no other changes to the Company’s significant accounting policies as described in the Company’s annual report on Form 10-K for the year ended December 31, 2014 Recent Accounting Pronouncements In April 2015, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2015-05, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40) – Customers Accounting for Fees Paid in a Cloud Computing Arrangement In April 2015, the FASB issued ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30) – Simplifying the Presentation of Debt Issuance Costs In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers On July 9, 2015, the FASB voted to defer the effective date of this standard for one year, and the standard is now effective for the Company on January 1, 2018. The deferral allows for early adoption of the standard, which for the Company would be on January 1, 2017.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	3 . Fair Value Measurements The Company measures and reports its cash equivalents at fair value. The following tables set forth the fair value of the Company’s financial assets measured on a recurring basis by level within the fair value hierarchy (in thousands): June 30, 2015 Level I Level II Level III Total Financial Assets Time deposits $ — $ 1,900 $ — $ 1,900 Total financial assets $ — $ 1,900 $ — $ 1,900 December 31, 2014 Level I Level II Level III Total Financial Assets Time deposits $ — $ 1,900 $ — $ 1,900 Money market funds 607 — — 607 Total financial assets $ 607 $ 1,900 $ — $ 2,507 The carrying amounts of certain financial instruments of the Company, consisting of cash and cash equivalents excluding time deposits; accounts receivable; accounts payable; accounts payable—related party and distributions payable to redeemable non-controlling interests (all Level I) approximate fair value due to their relatively short maturities. Time deposits (Level II) approximate fair value due to their short-term nature (30 days) and, upon renewal, the interest rate is adjusted based on current market rates. The Company’s long-term debt is carried at cost and was $208.5 million and $105.0 million as of June 30, 2015 and December 31, 2014. The Company estimated the fair values of long-term debt to approximate its carrying values as interest accrues at a floating rate based on market rates. The Company did not realize gains or losses related to financial assets for any of the periods presented.

Solar Energy Systems

Solar Energy Systems	6 Months Ended
	Jun. 30, 2015
Solar Energy Systems Disclosure [Abstract]
Solar Energy Systems	4 . Solar Energy Systems Solar energy systems, net consisted of the following (in thousands): June 30, December 31, 2015 2014 System equipment costs $ 678,741 $ 478,502 Initial direct costs related to solar energy systems 120,973 75,349 799,714 553,851 Less: Accumulated depreciation and amortization (18,915 ) (10,186 ) 780,799 543,665 Solar energy system inventory 67,805 44,502 Solar energy systems, net $ 848,604 $ 588,167 The Company recorded depreciation and amortization expense related to solar energy systems of $4.9 million and $1.7 million for the three months ended June 30, 2015 and 2014. Depreciation and amortization expense related to solar energy systems of $8.7 million and $3.0 million was recorded for the six months ended June 30, 2015 and 2014.

Property and Equipment

Property and Equipment	6 Months Ended
	Jun. 30, 2015
Property Plant And Equipment [Abstract]
Property and Equipment	5 . Property and Equipment Property and equipment, net consisted of the following (in thousands): Estimated June 30, December 31, Useful Lives 2015 2014 Vehicles acquired under capital leases 3 years $ 17,991 $ 13,351 Furniture and computer and other equipment 3 years 4,557 2,183 Leasehold improvements 1-3 years 3,114 2,088 25,662 17,622 Less: Accumulated depreciation and amortization (7,878 ) (4,598 ) 17,784 13,024 Build-to-suit assets 6,619 — Property and equipment, net $ 24,403 $ 13,024 The Company recorded depreciation and amortization expense related to property and equipment of $1.9 million and $0.7 million for the three months ended June 30, 2015 and 2014. Depreciation and amortization expense related to property and equipment of $3.4 million and $1.2 million was recorded for the six months ended June 30, 2015 and 2014. The Company leases fleet vehicles that are accounted for as capital leases. Depreciation on vehicles under capital leases totaling $1.2 million and $0.7 million was capitalized in solar energy systems, net for the three months ended June 30, 2015 and 2014. Depreciation on vehicles under capital leases totaling $2.4 million and $1.2 million was capitalized in solar energy systems, net for the six months ended June 30, 2015 and 2014. For the three and six months ended June 30 Because of its involvement in certain aspects of the construction of a new headquarters building in Lehi, UT, t he Company is deemed the owner of the building for accounting purposes during the construction period. Accordingly, the Company recorded a build-to-suit asset of $6.6 million as of June 30, 2015.

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Intangible Assets	6 . Intangible Assets Intangible assets consisted of the following (in thousands): June 30, December 31, 2015 2014 Cost: Customer contracts $ 43,783 $ 43,783 Customer relationships 164 738 Trademarks/trade names 201 1,664 Developed technology 522 1,295 In-process research and development — 2,097 Internal-use software 692 370 Total carrying value 45,362 49,947 Accumulated amortization: Customer contracts (38,310 ) (31,013 ) Customer relationships (47 ) (135 ) Trademarks/trade names (28 ) (152 ) Developed technology (93 ) (160 ) Internal-use software (57 ) — Total accumulated amortization (38,535 ) (31,460 ) Total intangible assets, net $ 6,827 $ 18,487 The Company recorded amortization expense of $3.7 million for the three months ended June 30, 2015, which was included in amortization of intangible assets in the condensed consolidated statements of operations. Amortization expense was $3.8 million for the three months ended June 30, 2014, of which $0.1 million was recorded in cost of revenue-solar energy system and product sales. The Company recorded amortization expense of $7.5 million for the six months ended June 30, 2015. Amortization expense was $7.5 million for the six months ended June 30, 2014, of which $0.1 million was recorded in cost of revenue-solar energy system and product sales. In February 2015, the Company decided to discontinue the external sales of the SunEye and PV Designer products, the rights to which the Company acquired when it acquired Solmetric Corporation, or Solmetric, in January 2014. This discontinuance was considered an indicator of impairment, and a review regarding the recoverability of the carrying value of the related intangible assets was performed. In-process research and development, which was intended to generate Solmetric product sales in the residential market, was discontinued and deemed fully impaired resulting in a charge of $2.1 million. The Solmetric, SunEye and PV Designer trade names will no longer be utilized and were deemed fully impaired resulting in a charge of $1.3 million. The SunEye and PV Designer developed technology assets were deemed fully impaired resulting in a charge of $0.7 million. Customer relationships were deemed partially impaired by $0.4 million due to the loss of external customers who purchased the discontinued products. As a result of this review, the Company recorded a total impairment charge of $4.5 million for the six months ended June 30, 2015.

Accrued Compensation

Accrued Compensation	6 Months Ended
	Jun. 30, 2015
Accrued Compensation Disclosure [Abstract]
Accrued Compensation	7 . Accrued Compensation Accrued compensation consisted of the following (in thousands): June 30, December 31, 2015 2014 Accrued payroll $ 16,159 $ 10,219 Accrued commissions 9,928 6,575 Total accrued compensation $ 26,087 $ 16,794

Accrued and Other Current Liabi

Accrued and Other Current Liabilities	6 Months Ended
	Jun. 30, 2015
Payables And Accruals [Abstract]
Accrued and Other Current Liabilities	8 . Accrued and Other Current Liabilities Accrued and other current liabilities consisted of the following (in thousands): June 30, December 31, 2015 2014 Income tax payable $ 7,093 $ 4,097 Sales and use tax payable 6,412 5,052 Accrued professional fees 6,022 1,289 Deferred rent 1,232 1,090 Accrued unused commitment fees and interest 623 478 Fleet expenses 479 470 Other accrued expenses 3,849 1,540 Total accrued and other current liabilities $ 25,710 $ 14,016

Debt Obligations

Debt Obligations	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt Obligations	9 . Debt Obligations Debt obligations consisted of the following (in thousands): June 30, December 31, 2015 2014 Aggregation credit facility $ 158,500 $ 105,000 Working capital credit facility 50,000 — Total debt $ 208,500 $ 105,000 Working Capital Credit Facility In March 2015, the Company entered into a revolving credit agreement (the “Working Capital Facility”) pursuant to which the Company may borrow up to an aggregate principal amount of $131.0 million from certain financial institutions for which Goldman Sachs Lending Partners LLC is acting as administrative agent and collateral agent. In May 2015, certain conditions were satisfied and the aggregate amount of available revolver borrowings was increased to $150.0 million. Loans under the Working Capital Facility will be used to pay for the costs incurred in connection with the design and construction of solar energy systems, and letters of credit may be issued for working capital and general corporate purposes. As of June 30, 2015, the Company had incurred an aggregate of $50.0 million in borrowings under the Working Capital Facility. The remaining borrowing capacity was $100.0 million as of June 30, 2015. The Company has pledged the interests in the assets of the Company and its subsidiaries, excluding Vivint Solar Financing I, LLC, as security for its obligations under the Working Capital Facility. Prepayments are permitted under the Working Capital Facility, and the principal and accrued interest on any outstanding loans mature in March 2020. Interest accrues on borrowings at a floating rate equal to, dependent on the type of borrowing, (1) a rate equal to the Eurodollar Rate for the interest period divided by one minus the Eurodollar Reserve Percentage, plus a margin of 3.25%; or (2) the highest of (a) the Federal Funds Rate plus 0.50%, (b) the Citibank prime rate and (c) the one-month interest period Eurodollar rate plus 1.00%, plus a margin of 2.25%. Interest is payable dependent on the type of borrowing at the end of (1) the interest period that the Company may elect as a term and not to exceed three months, (2) quarterly or (3) at maturity of the Working Capital Facility. The Working Capital Facility includes customary covenants, including covenants that restrict, subject to certain exceptions, the Company’s ability to incur indebtedness, incur liens, make investments, make fundamental changes to their business, dispose of assets, make certain types of restricted payments or enter into certain related party transactions. Among other restrictions, the Working Capital Facility provides that the Company may not incur any indebtedness other than that related to the Working Capital Facility or in respect of permitted swap agreements. These restrictions do not impact the Company’s ability to enter into investment funds, including those that are similar to those entered into previously. The Company is also required to maintain $25.0 million in cash and cash equivalents and certain investments as of the last day of each quarter. As of June 30, 2015, the Company was in compliance with such covenants. The Working Capital Facility also contains certain customary events of default. If an event of default occurs, lenders under the Working Capital Facility will be entitled to take various actions, including the acceleration of amounts then outstanding. Interest expense for this facility was approximately $0.4 million for the three and six months ended June 30, 2015. No interest expense was recorded for the three and six months ended June 30, 2014. As of June 30, 2015, the current portion of deferred debt issuance costs of $0.5 million was recorded in prepaid expenses and other current assets, and the long-term portion of deferred debt issuance costs of $2.0 million was recorded in other non-current assets, net in the condensed consolidated balance sheet. Bank of America, N.A. Aggregation Credit Facility In September 2014, the Company entered into an aggregation credit facility (the “Aggregation Facility”), which was subsequently amended in February 2015, pursuant to which the Company may borrow up to an aggregate principal amount of $375.0 million and, for which Bank of America, N.A. is acting as administrative agent. . As of June 30, 2015, the Company had incurred an aggregate of $158.5 million in term loan borrowings under the Aggregation Facility. The remaining borrowing capacity was $216.5 million as of June 30, 2015. However, the Company does not have immediate access to the remaining $216.5 million balance as future borrowings are dependent on when it has solar energy system revenue to collateralize the borrowings. The borrower under the Aggregation Facility is Vivint Solar Financing I, LLC, one of the Company’s indirect wholly owned subsidiaries, that in turn holds the Company’s interests in the majority of the managing members of the Company’s existing investment funds. These managing members guarantee the borrower’s obligations under the Aggregation Facility. In addition, Vivint Solar Holdings, Inc. has pledged its interests in the borrower, and the borrower has pledged its interests in the guarantors as security for the borrower’s obligations under the Aggregation Facility. The related solar energy systems are not subject to any security interest of the lenders, and there is no recourse to the Company in the case of a default. Prepayments are permitted under the Aggregation Facility, and the principal and accrued interest on any outstanding loans mature in March 2018. Interest accrues on borrowings at a floating rate equal to either (1)(a) the London Interbank Offer Rate (“ Interest is payable at the end of each interest period that the Company may elect as a term of either one, two or three months The Aggregation Facility includes customary covenants, including covenants that restrict, subject to certain exceptions, the borrower’s, and the guarantors’ ability to incur indebtedness, incur liens, make investments, make fundamental changes to their business, dispose of assets, make certain types of restricted payments or enter into certain related party transactions. Among other restrictions, the Aggregation Facility provides that the borrower may not incur any indebtedness other than that related to the Aggregation Facility or in respect of permitted swap agreements, and that the guarantors may not incur any indebtedness other than that related to the Aggregation Facility or as permitted under existing investment fund transaction documents. These restrictions do not impact the Company’s ability to enter into investment funds, including those that are similar to those entered into previously. As of June 30, 2015, the Company was in compliance with such covenants. The Aggregation Facility also contains certain customary events of default. If an event of default occurs, lenders under the Aggregation Facility will be entitled to take various actions, including the acceleration of amounts due under the Aggregation Facility and foreclosure on the interests of the borrower and the guarantors that have been pledged to the lenders. Interest expense for this facility was approximately $2.3 million and $4.4 million in the three and six months ended June 30, 2015. No interest expense was recorded for this facility in the three and six months ended June 30, 2014. As of June 30, 2015, the current portion of deferred debt issuance costs of $3.0 million was recorded in prepaid expenses and other current assets, and the long-term portion of deferred debt issuance costs of $5.2 million was recorded in other non-current assets, net in the condensed consolidated balance sheet. In addition, an interest reserve of $2.6 million was held in an account with the administrative agent and was included in restricted cash and cash equivalents. The interest reserve increases as borrowings increase under the Aggregation Facility. Bank of America, N.A. Term Loan Credit Facility In May 2014, the Company entered into a term loan credit facility for an aggregate principal amount of $75.5 million with certain financial institutions for which Bank of America, N.A. acted as administrative agent. In September 2014 and in connection with the closing of the Aggregation Facility, the Company repaid the then outstanding $75.5 million in aggregate borrowings and terminated the agreement. There was no interest expense incurred for the three and six months ended June 30, 2015 under this agreement. Interest expense was $0.5 million for the three and six months ended June 30, 2014 under this agreement. Revolving Lines of Credit — On October 9, 2014, the Company repaid $58.8 million in aggregate borrowings and interest owed to Vivint under two loan agreements, which were terminated upon repayment. There was no interest expense incurred for the three and six months ended June 30, 2015 under these agreements. Interest expense was $1.5 million and $2.9 million for the three and six months ended June 30, 2014 under these agreements.

Investment Funds

Investment Funds	6 Months Ended
	Jun. 30, 2015
Summarized Financial Data Of Subsidiary [Abstract]
Investment Funds	10 . Investment Funds As of June 30, 2015, the Company had formed 17 investment funds for the purpose of funding the purchase of solar energy systems. The aggregate carrying value of these funds’ assets and liabilities (after elimination of intercompany transactions and balances) in the Company’s condensed consolidated balance sheets were as follows (in thousands): June 30, December 31, 2015 2014 Assets Current assets: Cash and cash equivalents $ 12,830 $ 12,641 Accounts receivable, net 5,261 1,542 Total current assets 18,091 14,183 Solar energy systems, net 732,484 525,903 Total assets $ 750,575 $ 540,086 Liabilities Current liabilities: Distributions payable to non-controlling interests and redeemable non-controlling interests $ 5,805 $ 6,780 Current portion of deferred revenue 390 237 Accrued and other current liabilities 69 — Total current liabilities 6,264 7,017 Deferred revenue, net of current portion 7,064 4,335 Total liabilities $ 13,328 $ 11,352 Residential Investment Funds As of June 30, 2015, the Company had formed 16 residential investment funds. Fund investors for three of the funds are managed indirectly by The Blackstone Group L.P. (the “Sponsor”) and are considered related parties. As of June 30, 2015 and December 31, 2014, the cumulative total of contributions into the VIEs by all investors was $649.0 million and $480.2 million. Of these contributions, a cumulative total of $110.0 million was contributed by related parties in prior periods. All residential investment funds except for two were operational as of June 30, 2015. The Company did not have any assets, liabilities or activity associated with those two funds. Total available committed capital under those two funds was $275.0 million as of June 30, 2015. C&I Investment Fund In May 2015, a wholly owned subsidiary of the Company entered into a C&I solar investment fund arrangement with a fund investor. The fund was not operational as of June 30, 2015, and as such, the Company did not have any assets or liabilities associated with the fund. The total available committed capital under the fund is $150.0 million, which is expected to be contributed through 2016. Guarantees With respect to the investment funds, the Company and the fund investors have entered into guaranty agreements under which the Company guarantees the performance of certain obligations of its subsidiaries to the investment funds. These guarantees do not result in the Company being required to make payments to the fund investors unless such payments are mandated by the investment fund governing documents and the investment fund fails to make such payment. The Company is also contractually obligated to make certain VIE investors whole for losses that the investors may suffer in certain limited circumstances resulting from the disallowance or recapture of investment tax credits. As of December 31, 2014, the Company accrued an estimated $4.0 million distribution to reimburse a fund investor a portion of its capital contribution in order to true-up the investor’s expected rate of return primarily due to a delay in solar energy systems being interconnected to the utility grid and other factors. During the three months ended June 30, 2015, the Company accrued an additional $1.0 million and paid the contractually agreed upon distribution of $5.0 million to the fund investor. As a result of the guaranty arrangements in certain funds, the Company is required to hold minimum cash balances of $10.0 million and $5.0 million as of June 30, 2015 and December 31, 2014, which are classified as restricted cash and cash equivalents on the condensed consolidated balance sheets.

Redeemable Non-Controlling Inte

Redeemable Non-Controlling Interests and Equity	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Redeemable Non-Controlling Interests and Equity	11. Common Stock The Company had reserved shares of common stock for issuance as follows (in thousands): June 30, December 31, 2015 2014 Stock options issued and outstanding 9,344 10,053 Restricted stock units issued and outstanding 752 22 Shares available for grant under equity incentive plans 12,476 8,783 Long-term incentive plan 3,382 4,059 Total 25,954 22,917 Redeemable Non-Controlling Interests, Equity and Non-Controlling Interests The changes in redeemable non-controlling interests were as follows (in thousands): Balance as of December 31, 2014 $ 128,427 Contributions from redeemable non-controlling interests 35,763 Distributions to redeemable non-controlling interests (2,422 ) Net loss (7,867 ) Balance as of June 30, 2015 $ 153,901 The changes in stockholders’ equity and non-controlling interests were as follows (in thousands): Total Stockholders' Non-controlling Equity Interests Total Equity Balance as of December 31, 2014 $ 477,989 $ 135,147 $ 613,136 Stock-based compensation expense 20,610 — 20,610 Excess tax effects from stock-based compensation 1,632 — 1,632 Issuance of common stock 623 — 623 Contributions from non-controlling interests — 133,020 133,020 Distributions to non-controlling interests — (7,292 ) (7,292 ) Net income (loss) 25,802 (167,615 ) (141,813 ) Balance as of June 30, 2015 $ 526,656 $ 93,260 $ 619,916 Seven of the investment funds include a right for the non-controlling interest holder to elect to require the Company’s wholly owned subsidiary to purchase all of its membership interests in the fund after a stated period of time (each, a “Put Option”). In one of the investment funds, the Company’s wholly owned subsidiary has the right to elect to require the non-controlling interest holder to sell all of its membership units to the Company’s wholly owned subsidiary (a “Call Option”) after the expiration of the non-controlling interest holder’s Put Option. In the six other investment funds that have Put Options, the Company’s wholly owned subsidiary has a Call Option for a stated period prior to the effectiveness of the Put Option. In nine other investment funds there is a Call Option which is exercisable after a stated period of time. One investment fund has neither a Put Option nor a Call Option. The purchase price for the fund investor’s interest in the seven investment funds under the Put Options is the greater of fair market value at the time the option is exercised and a specified amount, ranging from $0.7 million to $4.1 million. The Put Options for these seven investment funds are exercisable beginning on the date that specified conditions are met for each respective fund. None of the Put Options are expected to become exercisable prior to 2019. Because the Put Options represent redemption features that are not solely within the control of the Company, the non-controlling interests in these investment funds are presented outside of permanent equity. Redeemable non-controlling interests are reported using the greater of their carrying value at each reporting date (which is impacted by attribution under the hypothetical liquidation at book value method) or their estimated redemption value in each reporting period. The carrying values of redeemable non-controlling interests at June 30, 2015 and December 31, 2014 was greater than the redemption values. The purchase price for the fund investors’ interests under the Call Options varies by fund, but is generally the greater of a specified amount, which ranges from approximately $0.7 million to $7.0 million, the fair market value of such interest at the time the option is exercised, or an amount that causes the fund investor to achieve a specified return on investment. The Call Options are exercisable beginning on the date that specified conditions are met for each respective fund. None of the Call Options are expected to become exercisable prior to 2019.

Equity Compensation Plans

Equity Compensation Plans	6 Months Ended
	Jun. 30, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Equity Compensation Plans	12 . Equity Compensation Plans Equity Incentive Plans 2014 Equity Incentive Plan The Company adopted the 2014 Equity Incentive Plan (the “2014 Plan”) in September 2014. Under the 2014 Plan, the Company may grant stock options, restricted stock, restricted stock units, stock appreciation rights, performance units, performance shares and performance awards to its employees, directors and consultants, and its parent and subsidiary corporations’ employees and consultants. Under the 2014 Plan, a total of 8.8 million shares of common stock initially were reserved for issuance, subject to adjustment in the case of certain events. In addition, any shares that otherwise would be returned to the Omnibus Plan (as defined below) as the result of the expiration or termination of stock options may be added to the 2014 Plan. The number of shares available for issuance under the 2014 Plan is subject to an annual increase on the first day of each year, equal to the least of 8.8 million shares, 4% of the outstanding shares of common stock as of the last day of the immediately preceding fiscal year and an amount of shares as determined by the Company. In accordance with the annual increase, an additional 4.2 million shares were reserved for issuance in 2015 under the 2014 Plan. 2013 Omnibus Incentive Plan; Non-plan Option Grant In July 2013, the Company adopted the 2013 Omnibus Incentive Plan (the “Omnibus Plan”), which was terminated in connection with the adoption of the 2014 Plan in September 2014, and accordingly no additional shares are available for issuance under the Omnibus Plan. The Omnibus Plan will continue to govern outstanding awards granted under this plan. In August 2013, the Company granted an option to purchase 0.6 million shares of common stock outside of the Omnibus Plan; however the provisions of this option were substantially similar to those of the options granted pursuant to the Omnibus Plan. During 2014 and 2013, the Company granted stock options of which one-third are subject to ratable time-based vesting over a five year period and two-thirds are subject to vesting upon certain performance conditions and the achievement of certain investment return thresholds by 313 Acquisition LLC, a subsidiary of the Company’s Sponsor. The stock options have a ten-year contractual period. During the three months ended June 30, 2015, the first performance condition was met and 3.3 million performance-based options immediately vested and became exercisable. The Company accelerated all remaining expense for the vested performance-based options, resulting in additional stock-based compensation expense of approximately $7.4 million. Long-term Incentive Plan In July 2013, the Company’s board of directors approved 4.1 million shares of common stock for six Long-term Incentive Plan Pools (“LTIP Pools”) that comprise the 2013 Long-term Incentive Plan (the “LTIP”). The purpose of the LTIP is to attract and retain key service providers and strengthen their commitment to the Company by providing incentive compensation measured by reference to the value of the shares of the Company’s common stock. Eligible participants include nonemployee direct sales personnel who sell the solar energy system contracts, employees that install and maintain the solar energy systems and employees that recruit new employees to the Company. During the three months ended June 30, 2015, 0.6 million shares of common stock were awarded to participants under the LTIP. The Company recognized $8.3 million of expense related to these shares in the three months ended June 30, 2015. No shares were awarded and no expense was recognized under the LTIP prior to the three months ended June 30, 2015. Stock Options Stock Option Activity Stock options are granted under the 2014 Plan and Omnibus Plan as described above. Stock option activity for the six months ended June 30, 2015 was as follows (in thousands, except term and per share amounts): Weighted Weighted- Average Shares Average Remaining Aggregate Underlying Exercise Contractual Intrinsic Options Price Term Value Outstanding—December 31, 2014 10,053 $ 1.21 $ 80,790 Granted 114 12.56 Exercised (535 ) 1.10 Cancelled (288 ) 1.00 Outstanding—June 30, 2015 9,344 $ 1.36 8.3 $ 101,135 Options vested and exercisable—June 30, 2015 3,669 $ 1.22 8.3 $ 40,191 Options vested and expected to vest—June 30, 2015 8,884 $ 1.36 8.3 $ 96,220 The weighted-average grant-date fair value of stock options granted during the six months ended June 30, 2015 and 2014 was $9.39 and $2.44 per share. The weighted-average grant date fair value of time-based stock options exercised during the six months ended June 30, 2015 was $2.34 per share. The weighted-average grant date fair value of performance-based options exercised during the six months ended June 30, 2015 was $6.78 per share. There were no options exercised for the six months ended June 30, 2014. Intrinsic value is calculated as the difference between the exercise price of the underlying stock options and the fair value of the common stock for the options that had exercise prices that were lower than the fair value per share of the common stock. As of June 30, 2015, there was approximately $6.1 million of total unrecognized stock-based compensation expense, net of estimated forfeitures, related to nonvested time-based and performance condition stock options. As of June 30, 2015, the time-based awards are expected to be recognized over the weighted-average period of 3.5 years. As of June 30, 2015, the performance-based awards are expected to be recognized over a weighted-average period of 1.7 years. The total fair value of stock options vested for the six months ended June 30, 2015 and 2014 was $13.8 million and a de minimis amount. Determination of Fair Value of Stock Options The Company estimates the fair value of the time-based stock options granted on each grant date using the Black-Scholes-Merton option pricing model and applies the accelerated attribution method for expense recognition. The fair values using the Black-Scholes-Merton method were estimated on each grant date using the following weighted-average assumptions: Six Months Ended June 30, 2015 2014 Expected term (in years) 6.2 6.2 Volatility 89.0 % 87.1 % Risk-free interest rate 1.8 % 1.9 % Dividend yield 0.0 % 0.0 % Restricted Stock Units Restricted Stock Units, or RSUs, are granted under the 2014 Plan and the LTIP as described above. RSU activity for the six months ended June 30, 2015 was as follows (awards in thousands): Weighted Average Number of Grant Date Awards Fair Value Outstanding at December 31, 2014 22 $ 16.00 Granted 1,386 13.33 Vested (648 ) 13.42 Forfeited (8 ) 12.00 Outstanding at June 30, 2015 752 13.35 The total grant date fair value of RSUs vested was $8.7 million for the six months ended June 30, 2015. No RSUs vested in the six months ended June 30, 2014. The Company determines the fair value of RSUs granted on each grant date based on the fair value of the Company’s common stock on the grant date. As of June 30, 2015, there was approximately $8.0 million of total unrecognized stock-based compensation expense, net of estimated forfeitures, related to RSUs, which is expected to be recognized over the weighted-average period of 3.4 years. Stock-based Compensation Expense Stock-based compensation was included in operating expenses as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Cost of revenue—operating leases and incentives $ 2,295 $ 37 $ 2,573 $ 55 Sales and marketing 9,070 96 9,303 190 General and administrative 6,432 246 8,610 571 Research and development 106 — 124 — Total stock-based compensation $ 17,903 $ 379 $ 20,610 $ 816

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	13 . Income Taxes The income tax expense for the three months ended June 30, 2015 and 2014 was calculated on a discrete basis resulting in a consolidated quarterly effective income tax rate of (19.4)% and (6.9)%. For the six months ended June 30, 2015 and 2014, the Company’s consolidated effective income tax rate was (18.6)% and (10.0)%. The variations between the consolidated effective income tax rates and the U.S. federal statutory rate for the three and six months ended June 30, 2015 were primarily attributable to the effect of non-controlling interests and redeemable non-controlling interests and to reduced ITC allocations to the Company. The variations between the consolidated effective income tax rates and the U.S. federal statutory rate for the three and six months ended June 30, 2014 were primarily attributable to the effect of non-controlling interests and redeemable non-controlling interests. The Company recognizes sales of solar energy systems to the investment funds for income tax purposes. As the investment funds are consolidated by the Company, the gain on the sale of the assets has been eliminated in the condensed consolidated financial statements. These transactions are treated as intercompany sales and any tax expense incurred related to these sales is being deferred and amortized over the estimated useful life of the underlying systems which has been estimated to be 30 years. The deferral of the tax expense results in recording of a prepaid tax asset. As of June 30, 2015 and December 31, 2014, the Company recorded a long-term prepaid tax asset of $199.1 million and $111.9 million, net of amortization. Uncertain Tax Positions As of June 30, 2015 and December 31, 2014, the Company had no unrecognized tax benefits. There was no interest and penalties accrued for any uncertain tax positions as of June 30, 2015 and December 31, 2014. The Company does not have any tax positions for which it is reasonably possible the total amount of gross unrecognized benefits will increase or decrease within the next 12 months. The Company is subject to taxation and files income tax returns in the United States, and various state and local jurisdictions. Due to the Company’s net losses, substantially all of its federal, state and local income tax returns since inception are still subject to audit.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions	14 . Related Party Transactions The Company’s operations included the following related party transactions (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Cost of revenue—operating leases and incentives $ 1,439 $ 1,110 $ 2,929 $ 2,405 Sales and marketing 883 808 1,261 997 General and administrative 4,589 733 4,802 3,239 Interest expense (1) — 1,478 — 2,878 (1) Includes revolving lines of credit—related party. See Note 9—Debt Obligations. Vivint Services In 2014, the Company negotiated and entered into a number of agreements with its sister company, Vivint Inc. (“Vivint”), related to services and other support that Vivint provides to the Company. Under the terms of these agreements, Vivint provides the Company with information technology and infrastructure, employee benefits and certain other services. Prior to the new agreements, under full service sublease and trademark agreements, Vivint provided to the Company various administrative services, such as management, human resources, information technology, facilities and use of corporate office space, and rights to use certain trademarks. The Company incurred fees under these agreements of $2.3 million and $2.5 million for the three months ended June 30, 2015 and 2014, which reflect the amount of services provided by Vivint on behalf of the Company. The Company incurred fees under these agreements of $4.1 million for the six months ended June 30, 2015 and 2014. Payables to Vivint recorded in accounts payable—related party were $2.0 million and $2.1 million as of June 30, 2015 and December 31, 2014. These payables include amounts due to Vivint related to the services agreements and other miscellaneous intercompany payables including freight, healthcare cost reimbursements and ancillary purchases. Advances Receivable — Net amounts due from direct-sales personnel were $1.2 million as of June 30, 2015 and December 31, 2014. The Company provided a reserve of $1.0 million and $0.9 million as of June 30, 2015 and December 31, 2014 related to advances to direct-sales personnel who have terminated their employment agreement with the Company. Advisory Agreements In May 2014, the Company entered into an advisory agreement with Blackstone Advisory Partners L.P., an affiliate of the Sponsor (“BAP”), under which BAP will provide financial advisory and placement services related to the Company’s financing of residential solar energy systems. In February 2015, the Company provided BAP a notice to terminate the agreement, which remains in effect for six months following the date of such notice. Under the agreement, the Company is required under certain circumstances to pay a placement fee to BAP ranging from 0.75% to 1.5% of the transaction capital, depending on the identity of the investor and whether the financing relates to residential or commercial projects. This agreement replaced the 2013 advisory agreement described below. Effective May 2013, the Company entered into an advisory agreement with BAP that provided financial advisory and placement services related to the Company’s financing of residential solar energy systems. Under the agreement, BAP was paid a placement fee ranging from 0% to 2% of the transaction capital, depending on the identity of the investor and how contact with the investor is established. The Company incurred fees under these agreements of $4.4 million and zero for the three months ended June 30, 2015 and 2014. The Company incurred fees of $4.4 million and $2.2 million for the six months ended June 30, 2015 and 2014. This amount was recorded in general and administrative expense in the Company’s condensed consolidated statements of operations. Investment Funds Fund investors for three of the investment funds are indirectly managed by the Sponsor and accordingly are considered related parties. See Note 10—Investment Funds. In July 2014, the Company also entered into a Backup Maintenance Servicing Agreement with Vivint in which Vivint will provide maintenance servicing of the investment fund assets in the event that the Company is removed as the service provider for certain of the investment funds. No services have been performed by Vivint under this agreement.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	15 . Commitments and Contingencies Non-Cancellable Operating Leases The Company has entered into lease agreements for corporate and operating facilities, warehouses and related equipment in states in which the Company conducts operations. The aggregate expense incurred under these operating leases was $2.4 million and $1.0 million for the three months ended June 30, 2015 and 2014. The aggregate expense incurred under these operating leases was $4.7 million and $1.4 million for the six months ended June 30, 2015 and 2014. Build-to-Suit Lease Arrangements In September 2014, the Company entered into a non-cancellable lease whereby the Company will terminate the current lease for its corporate headquarters in Lehi, UT and move into another building being constructed in the same general location. Because of its involvement in certain aspects of the construction per the terms of the lease, t Long-term Purchase Agreements In 2015, the Company entered into long term purchase agreements with certain key suppliers. These agreements require the Company to make minimum volume purchases on a quarterly basis. As of June 30, 2015, the Company has met these minimum purchase requirements, and no additional liability has been incurred or recorded. Indemnification Obligations From time to time, the Company enters into contracts that contingently require it to indemnify parties against claims. These contracts primarily relate to provisions in the Company’s services agreements with related parties that may require the Company to indemnify the related parties against services rendered; and certain agreements with the Company’s officers and directors under which the Company may be required to indemnify such persons for liabilities. In addition, under the terms of the agreements related to the Company’s investment funds and other material contracts, the Company may also be required to indemnify fund investors and other third parties for liabilities. The Company has not recorded a liability related to these indemnification provisions and the indemnification agreements have not had any significant impact to the Company’s condensed consolidated financial statements to date. Legal Proceedings In December 2013, one of the Company’s former sales representatives, on behalf of himself and a purported class, filed a complaint for unspecified damages, injunctive relief and restitution in the Superior Court of the State of California in and for the County of San Diego against Vivint Solar Developer, LLC, one of the Company’s subsidiaries, and unnamed John Doe defendants alleging violations of the California Labor Code and the California Business and Professions Code and seeking penalties of an unspecified amount, interest on all economic damages and reasonable attorney’s fees and costs. In January 2014, the Company filed an answer denying the allegations in the complaint and asserting various affirmative defenses. In late 2014, the parties agreed to preliminary terms of settlement, which were subsequently revised in mid 2015. The proposed settlement agreement contemplates a settlement payment from the Company in the amount of $0.4 million. A hearing to consider court approval of the proposed settlement agreement is scheduled for August 14, 2015. The Company has recorded a $0.4 million reserve related to this proceeding in its consolidated financial statements. In May 2014, Vivint made the Company aware that the U.S. Attorney’s office for the State of Utah is engaged in an investigation that Vivint believes relates to certain political contributions made by some of Vivint’s executive officers that are directors of the Company and some of Vivint’s employees. The Company has no reason to believe that it, the executive officers or employees are targets of such investigation. In September 2014, two former installation technicians of the Company, on behalf of themselves and a purported class, filed a complaint for damages, injunctive relief and restitution in the Superior Court of the State of California in and for the County of San Diego against the Company and unnamed John Doe defendants. The complaint alleges certain violations of the California Labor Code and the California Business and Professions Code based on, among other things, alleged improper classification of installer technicians, installer helpers, electrician technicians and electrician helpers, failure to pay minimum and overtime wages, failure to provide accurate itemized wage statements, and failure to provide wages on termination. In December 2014, the original plaintiffs and three additional plaintiffs filed an amended complaint with essentially the same allegations. On February 5, 2015, the Company filed an answer to the amended complaint, denying liability and asserting a number of defenses. The Company believes that it has strong defenses to the claims asserted in this matter, and the Company intends to defend the case vigorously. Although the Company cannot predict with certainty the ultimate resolution of this suit, it does not believe this matter will have a material adverse effect on the Company’s business, results of operations, cash flows or financial condition. In November and December 2014, two putative class action lawsuits were filed in the U.S. District Court for the Southern District of New York against the Company, its directors, certain of its officers and the underwriters of the Company’s initial public offering of common stock alleging violation of securities laws and seeking unspecified damages. In January 2015, the Court ordered these cases to be consolidated into the earlier filed case, Hyatt v. Vivint Solar, Inc. et al. The Company is unable to estimate a range of loss, if any, that could result were there to be an adverse final decision. If an unfavorable outcome were to occur in this case, it is possible that the impact could be material to the Company’s results of operations in the period(s) in which any such outcome becomes probable and estimable. On July 31, 2015, a putative class action lawsuit was filed in the Court of Chancery State of Delaware against the Company’s directors, SunEdison Inc. (“SunEdison”), In addition to the matters discussed above, in the normal course of business, the Company has from time to time been named as a party to various legal claims, actions and complaints. While the outcome of these matters cannot be predicted with certainty, the Company does not currently believe that the outcome of any of these claims will have a material adverse effect, individually or in the aggregate, on its consolidated financial position, results of operations or cash flows. The Company accrues for losses that are probable and can be reasonably estimated. The Company evaluates the adequacy of its legal reserves based on its assessment of many factors, including interpretations of the law and assumptions about the future outcome of each case based on available information.

Basic and Diluted Net Income (L

Basic and Diluted Net Income (Loss) Per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Basic and Diluted Net Income (Loss) Per Share	16 . Basic and Diluted Net Income Per Share The Company computes basic net income per share by dividing net income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted net income per share reflects the potential dilution of securities that could be exercised or converted into common shares, and is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding plus the effect of potentially dilutive shares to purchase common stock. The following table sets forth the computation of the Company’s basic and diluted net income available per share to common stockholders for the three and six months ended June 30, 2015 and 2014 (in thousands, except per share amounts): Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Numerator: Net income available to common stockholders $ 13,653 $ 5,493 $ 25,802 $ 12,534 Denominator: Shares used in computing net income available per share to common stockholders, basic 105,988 75,000 105,647 75,000 Weighted-average effect of potentially dilutive shares to purchase common stock 3,806 1,267 3,777 1,194 Shares used in computing net income available per share to common stockholders, diluted 109,794 76,267 109,424 76,194 Net income available per share to common stockholders Basic $ 0.13 $ 0.07 $ 0.24 $ 0.17 Diluted $ 0.12 $ 0.07 $ 0.24 $ 0.16 As of June 30, 2015 and 2014, stock options and RSUs for 3.3 million and 6.5 million underlying shares of common stock were subject to performance conditions which had not yet been met. Accordingly, these performance-based stock options and RSUs were not included in the computation of diluted net income per share as of June 30, 2015 and 2014. In addition, options remaining to be granted under the LTIP Pools were not included in the computation of diluted net income per share in either period as these shares had not been granted as of June 30, 2015. As of June 30, 2015, a de minimis number of shares was excluded from the dilutive share calculations as the effect on net income per share would have been antidilutive. As of June 30, 2014, there were no antidilutive shares.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segment Information	17 . Segment Information Prior to the second quarter 2015, the Company had one business activity that was focused primarily on providing service to customers in the residential market. During the second quarter of 2015, the Company closed its first C&I investment fund with plans to service customers in the C&I market. As of June 30, 2015, the C&I fund was not operational, i.e., no projects had been initiated within the fund. During the three and six months ended June 30, 2015, the Company has aligned its operations as two reporting segments: (1) Residential and (2) C&I. As of June 30, 2015, the Company recorded no assets related to the C&I segment. Segment loss from operations is comprised of operating unit revenue less operating expenses attributable to each operating segment. For the three and six months ended June 30, 2015, no revenue was recognized in the C&I segment as the C&I investment fund was not operational. Operating expenses in the C&I segment included fees related to the closing of the C&I fund and personnel costs of employees directly involved in the development of C&I. Prior to the three months ended June 30, 2015, all reported results related to the Residential segment, and as such, no restatement of prior period segment results was necessary. Operating results by reporting segment in 2015 were as follows: Three Months Ended June 30, 2015 Residential C&I Total Revenue: Operating leases and incentives $ 15,301 $ — $ 15,301 Solar energy system and product sales 834 — 834 Total revenue 16,135 — 16,135 Operating expenses: Cost of revenue—operating leases and incentives 33,295 — 33,295 Cost of revenue—solar energy system and product sales 476 — 476 Sales and marketing 18,461 236 18,697 Research and development 920 — 920 General and administrative 29,363 2,001 31,364 Amortization of intangible assets 3,721 — 3,721 Total operating expenses 86,236 2,237 88,473 Loss from operations (70,101 ) (2,237 ) (72,338 ) Six Months Ended June 30, 2015 Residential C&I Total Revenue: Operating leases and incentives $ 23,881 $ — $ 23,881 Solar energy system and product sales 1,799 — 1,799 Total revenue 25,680 — 25,680 Operating expenses: Cost of revenue—operating leases and incentives 57,175 — 57,175 Cost of revenue—solar energy system and product sales 914 — 914 Sales and marketing 24,894 236 25,130 Research and development 1,502 — 1,502 General and administrative 47,993 2,001 49,994 Amortization of intangible assets 7,484 — 7,484 Impairment of intangible assets 4,506 — 4,506 Total operating expenses 144,468 2,237 146,705 Loss from operations (118,788 ) (2,237 ) (121,025 )

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	18 . Subsequent Events Proposed Acquisition by SunEdison On July 20, 2015, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”), with SunEdison, the world’s largest renewable energy development company, and SEV Merger Sub, Inc. (“Merger Sub”), a wholly-owned subsidiary of SunEdison. The Merger Agreement provides that SunEdison will acquire the Company for approximately $2.2 billion, payable in a combination of cash, shares of SunEdison common stock and SunEdison convertible notes. The Merger Agreement has been approved by the Company’s board of directors and the boards of directors of SunEdison and Merger Sub. Upon completion of the transactions contemplated by the Merger Agreement, the Company’s shareholders are expected to receive $16.50 per share of the Company’s common stock comprised of $9.89 per share in cash, $3.31 per share in SunEdison stock and $3.30 per share in SunEdison convertible notes . The consummation of the transactions contemplated by the Merger Agreement Under certain circumstances, including if the Merger Agreement is terminated by SunEdison as a result of the Company’s board of directors failing to recommend the Merger Agreement to the Company’s stockholders, making or notifying SunEdison of its intention to make a change of recommendation or if the Company has breached in any material respect its obligations under the non-solicitation provision of the Merger Agreement, including its obligation to call a meeting of the Company’s stockholders to adopt the Merger Agreement or by the Company as a result of its board of directors making a change of recommendation in order to enter into a definitive agreement with respect to a superior proposal, the Company shall be obligated to pay SunEdison a termination fee equal to $62 million. This termination fee is also payable if, after an alternative proposal is made by a third party, the Company’s stockholders fail to approve the Merger Agreement at a meeting of the Company’s stockholders, and the Company subsequently enters into an agreement in respect of such alternative proposal within 12 months of termination of the Merger Agreement. In connection with SunEdison’s proposed acquisition, SunEdison has entered into a definitive purchase agreement with a subsidiary of TerraForm, an owner and operator of clean energy power plants, which, concurrently with the completion of SunEdison’s acquisition of the Company, will acquire the Company’s rooftop solar portfolio, consisting of 523 megawatts expected to be installed by year-end 2015, for $922 million in cash. In addition, TerraForm will acquire future completed residential and small commercial projects from SunEdison’s expanded residential and small commercial business unit. The rooftop solar portfolio is expected to add a growing, high-quality, long-term contracted and geographically diverse asset base to SunEdison. Non-Cancellable Operating Leases In July 2015, the Company amended the existing non-cancellable operating lease for its new corporate headquarters building that is under construction and expected to be completed in the first quarter of 2016. These amendments included an extension of the lease term to 12 years from five years with the option to extend for two additional periods of five years, an increase in the leased premises by approximately 32,000 square feet and a change in the base rent that will commence at approximately $0.3 million per month and increase over the term of the lease, as amended, at a rate of 2.5% annually. As a result of the amendment, the Company expects to make additional minimum lease payments of $36.1 million over the initial term of the lease. The Company also entered into new non-cancellable operating leases for the construction of a second office building and a studio building on the corporate headquarters campus that will increase the leased premises by approximately 160,000 square feet. The studio building is expected to be available in the second quarter 2016. The second office building is expected to be available in the first quarter of 2018, and the Company has the option to move the commencement date forward by providing a 12-month notice. Both leases have a term of 12 years with the option to extend for two additional periods of five years. The aggregate monthly rent payments under both leases will commence at approximately $0.4 million and increase at a rate of 2.5% annually. As a result of these new leases, the Company expects to make additional minimum lease payments of $56.8 million over the initial terms of the leases.

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (the “SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, these unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in the Company’s annual report on Form 10-K filed with the SEC on March 13, 2015. The unaudited condensed consolidated financial statements are prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments (all of which are considered of normal recurring nature) considered necessary to present fairly the Company’s financial results. The results of the six months ended June 30, 2015 are not necessarily indicative of the results to be expected for the fiscal year ending December 31, 2015 or for any other interim period or other future year. The condensed consolidated financial statements reflect the accounts and operations of the Company and those of its subsidiaries in which the Company has a controlling financial interest. The Company uses a qualitative approach in assessing the consolidation requirement for variable interest entities (“VIEs”). This approach focuses on determining whether the Company has the power to direct the activities of the VIE that most significantly affect the VIE’s economic performance and whether the Company has the obligation to absorb losses, or the right to receive benefits, that could potentially be significant to the VIE. For all periods presented, the Company has determined that it is the primary beneficiary in all of its operational VIEs. The Company evaluates its relationships with the VIEs on an ongoing basis to ensure that it continues to be the primary beneficiary. All intercompany transactions and balances have been eliminated in consolidation. For additional information, see Note 10—Investment Funds.
Use of Estimates	Use of Estimates The preparation of the condensed consolidated financial statements requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company regularly makes significant estimates and assumptions including, but not limited to, estimates that affect the Company’s principles of consolidation, revenue recognition, the useful lives of solar energy systems, the valuation and recoverability of intangible assets and goodwill acquired, useful lives of intangible assets, recoverability of long-lived assets, the recognition and measurement of loss contingencies, the valuation of stock-based compensation, the determination of valuation allowances associated with deferred tax assets, and the valuation of non-controlling interests and redeemable non-controlling interests. The Company bases its estimates on historical experience and on various other assumptions believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results could differ materially from those estimates.
Comprehensive Income	Comprehensive Income As the Company has no other comprehensive income or loss, comprehensive income is the same as net income available to common stockholders for all periods presented.
Other Changes	Other Changes During the six months ended June 30, 2015, the Company reassessed its reportable segments as discussed in Note 17—Segment Information. There have been no other changes to the Company’s significant accounting policies as described in the Company’s annual report on Form 10-K for the year ended December 31, 2014
Recent Accounting Pronouncements	Recent Accounting Pronouncements In April 2015, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2015-05, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40) – Customers Accounting for Fees Paid in a Cloud Computing Arrangement In April 2015, the FASB issued ASU 2015-03, Interest – Imputation of Interest (Subtopic 835-30) – Simplifying the Presentation of Debt Issuance Costs In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers On July 9, 2015, the FASB voted to defer the effective date of this standard for one year, and the standard is now effective for the Company on January 1, 2018. The deferral allows for early adoption of the standard, which for the Company would be on January 1, 2017.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Financial Assets Measured on Recurring Basis	The Company measures and reports its cash equivalents at fair value. The following tables set forth the fair value of the Company’s financial assets measured on a recurring basis by level within the fair value hierarchy (in thousands): June 30, 2015 Level I Level II Level III Total Financial Assets Time deposits $ — $ 1,900 $ — $ 1,900 Total financial assets $ — $ 1,900 $ — $ 1,900 December 31, 2014 Level I Level II Level III Total Financial Assets Time deposits $ — $ 1,900 $ — $ 1,900 Money market funds 607 — — 607 Total financial assets $ 607 $ 1,900 $ — $ 2,507

Solar Energy Systems (Tables)

Solar Energy Systems (Tables)	6 Months Ended
	Jun. 30, 2015
Solar Energy Systems Disclosure [Abstract]
Solar Energy Systems	Solar energy systems, net consisted of the following (in thousands): June 30, December 31, 2015 2014 System equipment costs $ 678,741 $ 478,502 Initial direct costs related to solar energy systems 120,973 75,349 799,714 553,851 Less: Accumulated depreciation and amortization (18,915 ) (10,186 ) 780,799 543,665 Solar energy system inventory 67,805 44,502 Solar energy systems, net $ 848,604 $ 588,167

Property and Equipment (Tables)

Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2015
Property Plant And Equipment [Abstract]
Summary of Property and Equipment Net	Property and equipment, net consisted of the following (in thousands): Estimated June 30, December 31, Useful Lives 2015 2014 Vehicles acquired under capital leases 3 years $ 17,991 $ 13,351 Furniture and computer and other equipment 3 years 4,557 2,183 Leasehold improvements 1-3 years 3,114 2,088 25,662 17,622 Less: Accumulated depreciation and amortization (7,878 ) (4,598 ) 17,784 13,024 Build-to-suit assets 6,619 — Property and equipment, net $ 24,403 $ 13,024

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	Intangible assets consisted of the following (in thousands): June 30, December 31, 2015 2014 Cost: Customer contracts $ 43,783 $ 43,783 Customer relationships 164 738 Trademarks/trade names 201 1,664 Developed technology 522 1,295 In-process research and development — 2,097 Internal-use software 692 370 Total carrying value 45,362 49,947 Accumulated amortization: Customer contracts (38,310 ) (31,013 ) Customer relationships (47 ) (135 ) Trademarks/trade names (28 ) (152 ) Developed technology (93 ) (160 ) Internal-use software (57 ) — Total accumulated amortization (38,535 ) (31,460 ) Total intangible assets, net $ 6,827 $ 18,487

Accrued Compensation (Tables)

Accrued Compensation (Tables)	6 Months Ended
	Jun. 30, 2015
Accrued Compensation Disclosure [Abstract]
Summary of Accrued Compensation	Accrued compensation consisted of the following (in thousands): June 30, December 31, 2015 2014 Accrued payroll $ 16,159 $ 10,219 Accrued commissions 9,928 6,575 Total accrued compensation $ 26,087 $ 16,794

Accrued and Other Current Lia30

Accrued and Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2015
Payables And Accruals [Abstract]
Schedule of Accrued and Other Current Liabilities	Accrued and other current liabilities consisted of the following (in thousands): June 30, December 31, 2015 2014 Income tax payable $ 7,093 $ 4,097 Sales and use tax payable 6,412 5,052 Accrued professional fees 6,022 1,289 Deferred rent 1,232 1,090 Accrued unused commitment fees and interest 623 478 Fleet expenses 479 470 Other accrued expenses 3,849 1,540 Total accrued and other current liabilities $ 25,710 $ 14,016

Debt Obligations (Tables)

Debt Obligations (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Schedule of Debt	Debt obligations consisted of the following (in thousands): June 30, December 31, 2015 2014 Aggregation credit facility $ 158,500 $ 105,000 Working capital credit facility 50,000 — Total debt $ 208,500 $ 105,000

Investment Funds (Tables)

Investment Funds (Tables)	6 Months Ended
	Jun. 30, 2015
Schedule Of Investments [Abstract]
Aggregate Carrying Value of Funds Assets and Liabilities	The aggregate carrying value of these funds’ assets and liabilities (after elimination of intercompany transactions and balances) in the Company’s condensed consolidated balance sheets were as follows (in thousands): June 30, December 31, 2015 2014 Assets Current assets: Cash and cash equivalents $ 12,830 $ 12,641 Accounts receivable, net 5,261 1,542 Total current assets 18,091 14,183 Solar energy systems, net 732,484 525,903 Total assets $ 750,575 $ 540,086 Liabilities Current liabilities: Distributions payable to non-controlling interests and redeemable non-controlling interests $ 5,805 $ 6,780 Current portion of deferred revenue 390 237 Accrued and other current liabilities 69 — Total current liabilities 6,264 7,017 Deferred revenue, net of current portion 7,064 4,335 Total liabilities $ 13,328 $ 11,352

Redeemable Non-Controlling In33

Redeemable Non-Controlling Interests and Equity (Tables)	6 Months Ended
	Jun. 30, 2015
Noncontrolling Interest [Abstract]
Schedule of Reserved Shares of Common Stock for Issuance	The Company had reserved shares of common stock for issuance as follows (in thousands): June 30, December 31, 2015 2014 Stock options issued and outstanding 9,344 10,053 Restricted stock units issued and outstanding 752 22 Shares available for grant under equity incentive plans 12,476 8,783 Long-term incentive plan 3,382 4,059 Total 25,954 22,917
Schedule of Changes in Redeemable Non-Controlling Interests	The changes in redeemable non-controlling interests were as follows (in thousands): Balance as of December 31, 2014 $ 128,427 Contributions from redeemable non-controlling interests 35,763 Distributions to redeemable non-controlling interests (2,422 ) Net loss (7,867 ) Balance as of June 30, 2015 $ 153,901
Schedule of Changes in Total Stockholders' Equity and Non-Controlling Interests	The changes in stockholders’ equity and non-controlling interests were as follows (in thousands): Total Stockholders' Non-controlling Equity Interests Total Equity Balance as of December 31, 2014 $ 477,989 $ 135,147 $ 613,136 Stock-based compensation expense 20,610 — 20,610 Excess tax effects from stock-based compensation 1,632 — 1,632 Issuance of common stock 623 — 623 Contributions from non-controlling interests — 133,020 133,020 Distributions to non-controlling interests — (7,292 ) (7,292 ) Net income (loss) 25,802 (167,615 ) (141,813 ) Balance as of June 30, 2015 $ 526,656 $ 93,260 $ 619,916

Equity Compensation Plans (Tabl

Equity Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Stock Option Activity	Stock options are granted under the 2014 Plan and Omnibus Plan as described above. Stock option activity for the six months ended June 30, 2015 was as follows (in thousands, except term and per share amounts): Weighted Weighted- Average Shares Average Remaining Aggregate Underlying Exercise Contractual Intrinsic Options Price Term Value Outstanding—December 31, 2014 10,053 $ 1.21 $ 80,790 Granted 114 12.56 Exercised (535 ) 1.10 Cancelled (288 ) 1.00 Outstanding—June 30, 2015 9,344 $ 1.36 8.3 $ 101,135 Options vested and exercisable—June 30, 2015 3,669 $ 1.22 8.3 $ 40,191 Options vested and expected to vest—June 30, 2015 8,884 $ 1.36 8.3 $ 96,220
Weighted Average Assumptions to Estimate Fair Value of Stock Options	The Company estimates the fair value of the time-based stock options granted on each grant date using the Black-Scholes-Merton option pricing model and applies the accelerated attribution method for expense recognition. The fair values using the Black-Scholes-Merton method were estimated on each grant date using the following weighted-average assumptions: Six Months Ended June 30, 2015 2014 Expected term (in years) 6.2 6.2 Volatility 89.0 % 87.1 % Risk-free interest rate 1.8 % 1.9 % Dividend yield 0.0 % 0.0 %
Restricted Stock Units Activity	Restricted Stock Units, or RSUs, are granted under the 2014 Plan and the LTIP as described above. RSU activity for the six months ended June 30, 2015 was as follows (awards in thousands): Weighted Average Number of Grant Date Awards Fair Value Outstanding at December 31, 2014 22 $ 16.00 Granted 1,386 13.33 Vested (648 ) 13.42 Forfeited (8 ) 12.00 Outstanding at June 30, 2015 752 13.35
Summary of Stock-Based Compensation Expense	Stock-based Compensation Expense Stock-based compensation was included in operating expenses as follows (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Cost of revenue—operating leases and incentives $ 2,295 $ 37 $ 2,573 $ 55 Sales and marketing 9,070 96 9,303 190 General and administrative 6,432 246 8,610 571 Research and development 106 — 124 — Total stock-based compensation $ 17,903 $ 379 $ 20,610 $ 816

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Components of Related Party Transactions	The Company’s operations included the following related party transactions (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Cost of revenue—operating leases and incentives $ 1,439 $ 1,110 $ 2,929 $ 2,405 Sales and marketing 883 808 1,261 997 General and administrative 4,589 733 4,802 3,239 Interest expense (1) — 1,478 — 2,878 (1) Includes revolving lines of credit—related party. See Note 9—Debt Obligations.

Basic and Diluted Net Income 36

Basic and Diluted Net Income (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Loss per Share to Common Stockholders	The following table sets forth the computation of the Company’s basic and diluted net income available per share to common stockholders for the three and six months ended June 30, 2015 and 2014 (in thousands, except per share amounts): Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Numerator: Net income available to common stockholders $ 13,653 $ 5,493 $ 25,802 $ 12,534 Denominator: Shares used in computing net income available per share to common stockholders, basic 105,988 75,000 105,647 75,000 Weighted-average effect of potentially dilutive shares to purchase common stock 3,806 1,267 3,777 1,194 Shares used in computing net income available per share to common stockholders, diluted 109,794 76,267 109,424 76,194 Net income available per share to common stockholders Basic $ 0.13 $ 0.07 $ 0.24 $ 0.17 Diluted $ 0.12 $ 0.07 $ 0.24 $ 0.16

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Operating Results by Reporting Segment	Operating results by reporting segment in 2015 were as follows: Three Months Ended June 30, 2015 Residential C&I Total Revenue: Operating leases and incentives $ 15,301 $ — $ 15,301 Solar energy system and product sales 834 — 834 Total revenue 16,135 — 16,135 Operating expenses: Cost of revenue—operating leases and incentives 33,295 — 33,295 Cost of revenue—solar energy system and product sales 476 — 476 Sales and marketing 18,461 236 18,697 Research and development 920 — 920 General and administrative 29,363 2,001 31,364 Amortization of intangible assets 3,721 — 3,721 Total operating expenses 86,236 2,237 88,473 Loss from operations (70,101 ) (2,237 ) (72,338 ) Six Months Ended June 30, 2015 Residential C&I Total Revenue: Operating leases and incentives $ 23,881 $ — $ 23,881 Solar energy system and product sales 1,799 — 1,799 Total revenue 25,680 — 25,680 Operating expenses: Cost of revenue—operating leases and incentives 57,175 — 57,175 Cost of revenue—solar energy system and product sales 914 — 914 Sales and marketing 24,894 236 25,130 Research and development 1,502 — 1,502 General and administrative 47,993 2,001 49,994 Amortization of intangible assets 7,484 — 7,484 Impairment of intangible assets 4,506 — 4,506 Total operating expenses 144,468 2,237 146,705 Loss from operations (118,788 ) (2,237 ) (121,025 )

Organization - Additional Infor

Organization - Additional Information (Details)	6 Months Ended
	Jun. 30, 2015
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Delaware corporation incorporation date	Aug. 12, 2011
Contractual term of customers	20 years

Summary of Significant Accoun39

Summary of Significant Accounting Policies - Additional Information (Details)	6 Months Ended
	Jun. 30, 2015USD ($)
Accounting Policies [Abstract]
Other comprehensive income (loss), net of tax	$ 0

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value of Financial Assets Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial Assets	$ 1,900	$ 2,507
Level I
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial Assets		607
Level II
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial Assets	1,900	1,900
Time Deposits
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial Assets	1,900	1,900
Time Deposits | Level II
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial Assets	$ 1,900	1,900
Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial Assets		607
Money Market Funds | Level I
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Financial Assets		$ 607

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Long-term debt	$ 208,500,000	$ 105,000,000
Realized gains or losses on financial assets	$ 0	$ 0

Solar Energy Systems (Details)

Solar Energy Systems (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Property Subject To Or Available For Operating Lease [Line Items]
Solar energy systems, gross	$ 799,714	$ 553,851
Less: Accumulated depreciation and amortization	(18,915)	(10,186)
Solar energy systems, net excluding inventory	780,799	543,665
Solar energy system inventory	67,805	44,502
Solar energy systems, net	848,604	588,167
System Equipment Costs
Property Subject To Or Available For Operating Lease [Line Items]
Solar energy systems, gross	678,741	478,502
Initial Direct Costs Related to Solar Energy Systems
Property Subject To Or Available For Operating Lease [Line Items]
Solar energy systems, gross	$ 120,973	$ 75,349

Solar Energy Systems - Addition

Solar Energy Systems - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Property Subject To Or Available For Operating Lease [Line Items]
Depreciation and amortization expense			$ 9,753	$ 3,009
Solar Energy System Inventory
Property Subject To Or Available For Operating Lease [Line Items]
Depreciation and amortization expense	$ 4,900	$ 1,700	$ 8,700	$ 3,000

Property and Equipment - Summar

Property and Equipment - Summary of Property and Equipment Net (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Property Plant And Equipment [Line Items]
Property, gross	$ 25,662	$ 17,622
Less: Accumulated depreciation and amortization	(7,878)	(4,598)
Property and equipment, net, excluding Build-to-suit assets	17,784	13,024
Build-to-suit assets	6,619
Property and equipment, net	$ 24,403	13,024
Vehicles Acquired Under Capital Leases
Property Plant And Equipment [Line Items]
Property and Equipment, Estimated Useful Lives	3 years
Property, gross	$ 17,991	13,351
Furniture and Computer and Other Equipment
Property Plant And Equipment [Line Items]
Property and Equipment, Estimated Useful Lives	3 years
Property, gross	$ 4,557	2,183
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property, gross	$ 3,114	$ 2,088
Leasehold Improvements | Minimum
Property Plant And Equipment [Line Items]
Property and Equipment, Estimated Useful Lives	1 year
Leasehold Improvements | Maximum
Property Plant And Equipment [Line Items]
Property and Equipment, Estimated Useful Lives	3 years

Property and Equipment - Additi

Property and Equipment - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Property Plant And Equipment [Line Items]
Depreciation and amortization expense			$ 9,753	$ 3,009
Build-to-suit assets	$ 6,619		6,619
Property and equipment
Property Plant And Equipment [Line Items]
Depreciation and amortization expense	1,900	$ 700	3,400	1,200
Vehicles Acquired Under Capital Leases | Solar Energy Systems
Property Plant And Equipment [Line Items]
Depreciation and amortization expense	$ 1,200	$ 700	$ 2,400	$ 1,200

Intangible Assets - Summary of

Intangible Assets - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Finite Lived Intangible Assets [Line Items]
Intangible assets, carrying value	$ 45,362	$ 49,947
Intangible assets, accumulated amortization	(38,535)	(31,460)
Total intangible assets, net	6,827	18,487
Customer Contracts
Finite Lived Intangible Assets [Line Items]
Intangible assets, carrying value	43,783	43,783
Intangible assets, accumulated amortization	(38,310)	(31,013)
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Intangible assets, carrying value	164	738
Intangible assets, accumulated amortization	(47)	(135)
Trademarks/Trade Names
Finite Lived Intangible Assets [Line Items]
Intangible assets, carrying value	201	1,664
Intangible assets, accumulated amortization	(28)	(152)
Developed Technology
Finite Lived Intangible Assets [Line Items]
Intangible assets, carrying value	522	1,295
Intangible assets, accumulated amortization	(93)	(160)
In-process Research and Development
Finite Lived Intangible Assets [Line Items]
Intangible assets, carrying value		2,097
Internal-use software
Finite Lived Intangible Assets [Line Items]
Intangible assets, carrying value	692	$ 370
Intangible assets, accumulated amortization	$ (57)

Intangible Assets - Additional

Intangible Assets - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 3,721	$ 3,691	$ 7,484	$ 7,428
Amortization of intangible assets, including amount recorded in cost of revenue		3,800	7,484	7,501
Amortization of intangible assets recorded in cost of revenue		$ 100		$ 100
Impairment charges related to discontinued operations			4,500
Customer Relationships
Finite Lived Intangible Assets [Line Items]
Impairment charges related to discontinued operations			400
Solmetric's SunEye and PV Designer Products | In-process Research and Development | Solmetric
Finite Lived Intangible Assets [Line Items]
Impairment charges related to discontinued operations			2,100
Solmetric's SunEye and PV Designer Products | Trademarks/Trade Names | Solmetric
Finite Lived Intangible Assets [Line Items]
Impairment charges related to discontinued operations			1,300
Solmetric's SunEye and PV Designer Products | Developed Technology | Solmetric
Finite Lived Intangible Assets [Line Items]
Impairment charges related to discontinued operations			$ 700

Accrued Compensation - Summary

Accrued Compensation - Summary of Accured Compensation (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Accrued Compensation Disclosure [Abstract]
Accrued payroll	$ 16,159	$ 10,219
Accrued commissions	9,928	6,575
Total accrued compensation	$ 26,087	$ 16,794

Accrued and Other Current Lia49

Accrued and Other Current Liabilities - Schedule of Accrued and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Payables And Accruals [Abstract]
Income tax payable	$ 7,093	$ 4,097
Sales and use tax payable	6,412	5,052
Accrued professional fees	6,022	1,289
Deferred rent	1,232	1,090
Accrued unused commitment fees and interest	623	478
Fleet expenses	479	470
Other accrued expenses	3,849	1,540
Total accrued and other current liabilities	$ 25,710	$ 14,016

Debt Obligations - Schedule of

Debt Obligations - Schedule of Debt Obligations (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Line Of Credit Facility [Line Items]
Total debt	$ 208,500	$ 105,000
Bank Of America Aggregation Credit Facility
Line Of Credit Facility [Line Items]
Aggregate term loan borrowing	158,500	$ 105,000
Bank Of America Working Capital Credit Facility
Line Of Credit Facility [Line Items]
Aggregate term loan borrowing	$ 50,000

Debt Obligations - Additional I

Debt Obligations - Additional Information (Details) - USD ($)	Oct. 09, 2014	Sep. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	May. 31, 2015	Mar. 31, 2015	Feb. 28, 2015	Dec. 31, 2014	May. 31, 2014
Line Of Credit Facility [Line Items]
Interest expense			$ 2,730,000	$ 2,673,000	$ 4,857,000	$ 4,074,000
Restricted cash and cash equivalents			12,648,000		12,648,000					$ 6,516,000
Minimum
Line Of Credit Facility [Line Items]
Restricted cash and cash equivalents			10,000,000		10,000,000					5,000,000
Bank Of America Working Capital Credit Facility
Line Of Credit Facility [Line Items]
Aggregate borrowing capacity							$ 150,000,000	$ 131,000,000
Aggregate term loan borrowing			50,000,000		50,000,000
Remaining borrowing capacity			100,000,000		$ 100,000,000
Revolving credit facility maturity date					Mar. 31, 2020
Debt Instrument interest rate description					(1) a rate equal to the Eurodollar Rate for the interest period divided by one minus the Eurodollar Reserve Percentage, plus a margin of 3.25%; or (2) the highest of (a) the Federal Funds Rate plus 0.50%, (b) the Citibank prime rate and (c) the one-month interest period Eurodollar rate plus 1.00%, plus a margin of 2.25%. Interest is payable dependent on the type of borrowing at the end of (1) the interest period that the Company may elect as a term and not to exceed three months, (2) quarterly or (3) at maturity of the Working Capital Facility
Debt instrument interest rate					2.25%
Minimum cash balance requirement			25,000,000		$ 25,000,000
Deferred debt issuance costs, current portion			500,000		500,000
Deferred debt issuance costs, long-term portion			2,000,000		2,000,000
Interest expense			400,000	0	$ 400,000	0
Bank Of America Working Capital Credit Facility | Eurodollar Reserve Percentage Plus
Line Of Credit Facility [Line Items]
Debt instrument interest rate					3.25%
Bank Of America Working Capital Credit Facility | Federal Funds Rate Plus
Line Of Credit Facility [Line Items]
Debt instrument interest rate					0.50%
Bank Of America Working Capital Credit Facility | Euro Dollar Rate Plus
Line Of Credit Facility [Line Items]
Debt instrument interest rate					1.00%
Bank Of America Aggregation Credit Facility
Line Of Credit Facility [Line Items]
Aggregate borrowing capacity									$ 375,000,000
Aggregate term loan borrowing			158,500,000		$ 158,500,000					$ 105,000,000
Remaining borrowing capacity			216,500,000		$ 216,500,000
Revolving credit facility maturity date					Mar. 12, 2018
Debt Instrument interest rate description					Interest accrues on borrowings at a floating rate equal to either (1)(a) the London Interbank Offer Rate (“LIBOR”) or (b) the greatest of (i) the Federal Funds Rate plus 0.5%, (ii) the administrative agent’s prime rate and (iii) LIBOR plus 1% and (2) a margin that varies between 3.25% during the period during which the Company may incur borrowings and 3.50% after such period. Interest is payable at the end of each interest period that the Company may elect as a term of either one, two or three months.
Deferred debt issuance costs, current portion			3,000,000		$ 3,000,000
Deferred debt issuance costs, long-term portion			5,200,000		5,200,000
Interest expense			2,300,000	0	4,400,000	0
Credit facility increasing amount									$ 550,000,000
Restricted cash and cash equivalents			2,600,000		$ 2,600,000
Bank Of America Aggregation Credit Facility | Minimum
Line Of Credit Facility [Line Items]
Debt instrument interest rate					3.25%
Bank Of America Aggregation Credit Facility | Maximum
Line Of Credit Facility [Line Items]
Debt instrument interest rate					3.50%
Bank Of America Aggregation Credit Facility | Federal Funds Rate Plus
Line Of Credit Facility [Line Items]
Debt instrument interest rate					0.50%
Bank Of America Aggregation Credit Facility | L I B O R Plus
Line Of Credit Facility [Line Items]
Debt instrument interest rate					1.00%
Bank of America, N.A. Term Loan Credit Facility
Line Of Credit Facility [Line Items]
Aggregate term loan borrowing											$ 75,500,000
Interest expense			0	500,000	$ 0	500,000
Repayments of Short-term Debt		$ 75,500,000
Revolving Lines of Credit | 2013 Loan Agreement and 2012 Loan Agreement
Line Of Credit Facility [Line Items]
Interest expense			$ 0	$ 1,500,000	$ 0	$ 2,900,000
Repayment of revolving line of credit	$ 58,800,000

Investment Funds - Additional I

Investment Funds - Additional Information (Details)	3 Months Ended	6 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2015USD ($)InvestmentFund	May. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Investment Holdings [Line Items]
Summary of investment fund		As of June 30, 2015, the Company had formed 17 investment funds for the purpose of funding the purchase of solar energy systems.
Number of investment funds | InvestmentFund		17
Accrued distribution				$ 4,000,000
Additional accrued distribution	$ 1,000,000
Payments of capital distribution	5,000,000
Restricted cash	12,648,000	$ 12,648,000		6,516,000
Minimum
Investment Holdings [Line Items]
Restricted cash	10,000,000	$ 10,000,000		5,000,000
Residential Investment Funds
Investment Holdings [Line Items]
Summary of investment fund		As of June 30, 2015, the Company had formed 16 residential investment funds
Number of investment funds | InvestmentFund		16
Investors cash contribution to variable interest equity	649,000,000	$ 649,000,000		$ 480,200,000
Commitment under the fund arrangement, description		Total available committed capital under those two funds was $275.0 million as of June 30, 2015
Residential Investment Funds | Fund
Investment Holdings [Line Items]
Investors committed capital contribution to variable interest equity	275,000,000	$ 275,000,000
Residential Investment Funds | Investor
Investment Holdings [Line Items]
Investors cash contribution to variable interest equity	$ 110,000,000	$ 110,000,000
C&I Investment Fund
Investment Holdings [Line Items]
Investors committed capital contribution to variable interest equity			$ 150,000,000
Commitment under the fund arrangement, description		The total available committed capital under the fund is $150.0 million, which is expected to be contributed through 2016

Investment Funds - Aggregate Ca

Investment Funds - Aggregate Carrying Value of Funds Assets and Liabilities (Details) - USD ($) $ in Thousands		Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents		$ 152,224	$ 261,649	$ 25,230	$ 6,038
Accounts receivable, net		5,423	1,837
Total current assets		178,198	281,066
Solar energy systems, net		848,604	588,167
TOTAL ASSETS	[1]	1,315,918	1,064,324
Current liabilities:
Distributions payable to non-controlling interests and redeemable non-controlling interests		5,805	6,780
Current portion of deferred revenue		399	314
Accrued and other current liabilities		25,710	14,016
Total current liabilities		143,904	94,892
Deferred revenue, net of current portion		7,132	4,466
Total liabilities	[1]	542,101	322,761
Variable Interest Entities
Current assets:
Cash and cash equivalents		12,830	12,641
Accounts receivable, net		5,261	1,542
Total current assets		18,091	14,183
Solar energy systems, net		732,484	525,903
TOTAL ASSETS		750,575	540,086
Current liabilities:
Distributions payable to non-controlling interests and redeemable non-controlling interests		5,805	6,780
Current portion of deferred revenue		390	237
Accrued and other current liabilities		69	0
Total current liabilities		6,264	7,017
Deferred revenue, net of current portion		7,064	4,335
Total liabilities		$ 13,328	$ 11,352
[1]	The Company’s assets as of June 30, 2015 and December 31, 2014 include $750.6 million and $540.1 million consisting of assets of variable interest entities, or VIEs, that can only be used to settle obligations of the VIEs. These assets include solar energy systems, net, of $732.5 million and $525.9 million as of June 30, 2015 and December 31, 2014; cash and cash equivalents of $12.8 million and $12.6 million as of June 30, 2015 and December 31, 2014; and accounts receivable, net, of $5.3 million and $1.5 million as of June 30, 2015 and December 31, 2014. The Company’s liabilities as of June 30, 2015 and December 31, 2014 included $13.3 million and $11.4 million of liabilities of VIEs whose creditors have no recourse to the Company. These liabilities include distributions payable to non-controlling interests and redeemable non-controlling interests of $5.8 million and $6.8 million as of June 30, 2015 and December 31, 2014; deferred revenue of $7.5 million and $4.6 million as of June 30, 2015 and December 31, 2014; and accrued and other current liabilities of $0.1 million and $0 as of June 30, 2015 and December 31, 2014. For further information see Note 10—Investment Funds.

Redeemable Non-Controlling In54

Redeemable Non-Controlling Interests and Equity - Schedule of Reserved Shares of Common Stock for Issuance (Details) - shares	Jun. 30, 2015	Dec. 31, 2014
Equity [Abstract]
Stock options issued and outstanding	9,344,000	10,053,000
Restricted stock units issued and outstanding	752,000	22,000
Shares available for grant under equity incentive plans	12,476,000	8,783,000
Long-term incentive plan	3,382,000	4,059,000
Total	25,954,000	22,917,000

Redeemable Non-Controlling In55

Redeemable Non-Controlling Interests and Equity - Schedule of Changes in Redeemable Non-Controlling Interests (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Redeemable Noncontrolling Interest [Line Items]
Balance at beginning of period			$ 128,427
Contributions from redeemable non-controlling interests			35,763
Distributions to redeemable non-controlling interests			(2,422)
Net loss	$ (103,358)	$ (45,104)	(175,482)	$ (88,688)
Balance at end of period	$ 153,901		153,901
Redeemable Non Controlling Interests
Redeemable Noncontrolling Interest [Line Items]
Net loss			$ (7,867)

Redeemable Non-Controlling In56

Redeemable Non-Controlling Interests and Equity - Schedule of Changes in Total Stockholders' Equity and Non-Controlling Interests (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Balance at beginning of year			$ 613,136
Balance at beginning of year			477,989
Balance at beginning of year			135,147
Stock-based compensation			20,610	$ 816
Excess tax effects from stock-based compensation			1,632
Issuance of common stock			623
Contributions from non-controlling interests			133,020
Distributions to non-controlling interests			(7,292)
Net income (loss)	$ (89,705)	$ (39,611)	(149,680)	(76,154)
Net income (loss)	13,653	5,493	25,802	12,534
Net income (loss)	(103,358)	$ (45,104)	(175,482)	$ (88,688)
Balance at end of year	619,916		619,916
Balance at end of year	526,656		526,656
Balance at end of year	93,260		93,260
Profit Loss Excluding Redeemable Noncontrolling Interest
Net income (loss)			(141,813)
Total Stockholders' Equity
Balance at beginning of year			477,989
Stock-based compensation			20,610
Excess tax effects from stock-based compensation			1,632
Issuance of common stock			623
Net income (loss)			25,802
Balance at end of year	526,656		526,656
Noncontrolling Interests
Balance at beginning of year			135,147
Contributions from non-controlling interests			133,020
Distributions to non-controlling interests			(7,292)
Net income (loss)			(167,615)
Balance at end of year	$ 93,260		$ 93,260

Redeemable Non-Controlling In57

Redeemable Non-Controlling Interests and Equity - Additional Information (Details) - Jun. 30, 2015 - USD ($)	Total
Put Option
Redeemable Noncontrolling Interest [Line Items]
Fund options expected to exercise	$ 0
Put Option | Minimum
Redeemable Noncontrolling Interest [Line Items]
Purchase price for investors' interest in funds under Put Options	700,000
Put Option | Maximum
Redeemable Noncontrolling Interest [Line Items]
Purchase price for investors' interest in funds under Put Options	4,100,000
Call Option
Redeemable Noncontrolling Interest [Line Items]
Fund options expected to exercise	0
Call Option | Minimum
Redeemable Noncontrolling Interest [Line Items]
Purchase price for investors' interest in funds under Put Options	700,000
Call Option | Maximum
Redeemable Noncontrolling Interest [Line Items]
Purchase price for investors' interest in funds under Put Options	$ 7,000,000

Equity Compensation Plans - Add

Equity Compensation Plans - Additional Information (Details) - USD ($)	Aug. 31, 2013	Sep. 30, 2014	Dec. 31, 2013	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Jul. 31, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock shares reserved for issuance				25,954,000			25,954,000		22,917,000
Long-term incentive plan				3,382,000			3,382,000		4,059,000
Stock-based compensation expense				$ 17,903,000		$ 379,000	$ 20,610,000	$ 816,000
Share-based award, stock options exercises in period							535,000
Unrecognized stock-based compensation expense				6,100,000			$ 6,100,000
RSUs vested, number of shares							648,000
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Time-based awards, period for recognition							3 years 4 months 24 days
Fair value of RSUs vested							$ 8,700,000
RSUs vested, number of shares								0
Unrecognized stock-based compensation expense				$ 8,000,000			$ 8,000,000
2014 Equity Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock shares reserved for issuance				8,800,000			8,800,000
Percentage of outstanding shares of common stock							4.00%
Number of additional shares available for issuance							4,200,000
Two Thousand And Thirteen Omnibus Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of additional shares available for issuance		0
Weighted-average grant-date fair value of stock options granted				$ 9.39		$ 2.44	$ 9.39	$ 2.44
Share-based award, stock options exercises in period								0
Fair value of stock options vested							$ 13,800,000	$ 0
Two Thousand And Thirteen Omnibus Incentive Plan | Time Based Condition
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options subject to ratable time-based vesting percentage			33.33%						33.33%
Award vesting period									5 years	5 years
Weighted-average grant-date fair value of stock options exercised							$ 2.34
Time-based awards, period for recognition							3 years 6 months
Two Thousand And Thirteen Omnibus Incentive Plan | Time Based Condition | Share-based Compensation Award, Tranche One
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options contractual period									10 years	10 years
Two Thousand And Thirteen Omnibus Incentive Plan | Performance Condition
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock options subject to ratable time-based vesting percentage			66.67%						66.67%
Options vested, number of shares				3,300,000
Options exercisable, number of shares				3,300,000			3,300,000
Additional stock-based compensation expenses				$ 7,400,000
Weighted-average grant-date fair value of stock options exercised							$ 6.78
Time-based awards, period for recognition							1 year 8 months 12 days
Non-omnibus Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock option plan, number of shares available for grant	600,000
Long Term Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Long-term incentive plan											4,100,000
Long-term incentive plan, number of shares granted in period				600,000	0
Stock-based compensation expense				$ 8,300,000	$ 0

Equity Compensation Plans - Sum

Equity Compensation Plans - Summary of Stock Option Activity (Details) - Jun. 30, 2015 - USD ($) $ / shares in Units, $ in Thousands	Total
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Shares Underlying Options, Outstanding, Balance	10,053,000
Shares Underlying Options, Granted	114,000
Shares Underlying Options, Exercised	(535,000)
Shares Underlying Options, Cancelled	(288,000)
Shares Underlying Options, Outstanding, Balance	9,344,000
Shares Underlying Options, Options vested and exercisable	3,669,000
Shares Underlying Options, Options vested and expected to vest	8,884,000
Weighted-Average Exercise Price, Outstanding, Balance	$ 1.21
Weighted-Average Exercise Price, Granted	12.56
Weighted-Average Exercise Price, Exercised	1.10
Weighted-Average Exercise Price, Cancelled	1
Weighted-Average Exercise Price, Outstanding, Balance	1.36
Weighted-Average Exercise Price, Options vested and exercisable	1.22
Weighted-Average Exercise Price, Options vested and expected to vest	$ 1.36
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	8 years 3 months 18 days
Weighted-Average Remaining Contractual Term, Options vested and exercisable	8 years 3 months 18 days
Weighted-Average Remaining Contractual Term, Options vested and expected to vest	8 years 3 months 18 days
Aggregate Intrinsic Value, Outstanding, Balance	$ 80,790
Aggregate Intrinsic Value, Outstanding, Balance	101,135
Aggregate Intrinsic Value, Options vested and exercisable	40,191
Aggregate Intrinsic Value, Options vested and expected to vest	$ 96,220

Equity Compensation Plans - Bla

Equity Compensation Plans - Black-Scholes-Merton Option Pricing Model Used to Estimate Fair Value(Details)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Expected term (in years)	6 years 2 months 12 days	6 years 2 months 12 days
Volatility	89.00%	87.10%
Risk-free interest rate	1.80%	1.90%
Dividend yield	0.00%	0.00%

Equity Compensation Plans - Res

Equity Compensation Plans - Restricted Stock Units Activity (Details) - 6 months ended Jun. 30, 2015 - $ / shares	Total
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Awards, Outstanding at December 31, 2014	22,000
Number of Awards, Granted	1,386,000
Number of Awards, Vested	(648,000)
Number of Awards, Forfeited	(8,000)
Number of Awards, Outstanding at June 30, 2015	752,000
Weighted Average Grant Date Fair Value, Outstanding at December 31, 2014	$ 16
Weighted Average Grant Date Fair Value, Granted	13.33
Weighted Average Grant Date Fair Value, Vested	13.42
Weighted Average Grant Date Fair Value, Forfeited	12
Weighted Average Grant Date Fair Value, Outstanding at June 30, 2015	$ 13.35

Equity Compensation Plans - S62

Equity Compensation Plans - Summary of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Schedule Of Stock Options [Line Items]
Stock-based compensation expense	$ 17,903	$ 379	$ 20,610	$ 816
Cost of Revenue-Operating Leases and Incentives
Schedule Of Stock Options [Line Items]
Stock-based compensation expense	2,295	37	2,573	55
Sales and Marketing
Schedule Of Stock Options [Line Items]
Stock-based compensation expense	9,070	96	9,303	190
General and Administrative
Schedule Of Stock Options [Line Items]
Stock-based compensation expense	6,432	$ 246	8,610	$ 571
Research and Development
Schedule Of Stock Options [Line Items]
Stock-based compensation expense	$ 106		$ 124

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Effective income tax rate	(19.40%)	(6.90%)	(18.60%)	(10.00%)
Prepaid tax asset, net	$ 199,103,000		$ 199,103,000		$ 111,910,000
Useful life of assets			30 years
Unrecognized tax benefits	0		$ 0		0
Unrecognized tax benefits, income tax penalties and interest accrued	$ 0		$ 0		$ 0

Related Party Transactions - Co

Related Party Transactions - Components of Related Party Transactions (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Related Party Transaction [Line Items]
Cost of revenue—operating leases and incentives		$ 33,295	$ 16,459	$ 57,175	$ 27,646
Sales and marketing		18,697	5,790	25,130	11,009
General and administrative		31,364	13,752	49,994	26,106
Interest expense		2,730	2,673	4,857	4,074
Related Party
Related Party Transaction [Line Items]
Cost of revenue—operating leases and incentives		1,439	1,110	2,929	2,405
Sales and marketing		883	808	1,261	997
General and administrative		$ 4,589	733	$ 4,802	3,239
Interest expense	[1]		$ 1,478		$ 2,878
[1]	Includes revolving lines of credit—related party. See Note 9—Debt Obligations.

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	May. 31, 2014	May. 31, 2013
Related Party Transaction [Line Items]
Accounts payable—related party	$ 1,978,000		$ 1,978,000		$ 2,132,000
Related Party
Related Party Transaction [Line Items]
Amounts due from direct-sales personnel	1,200,000		1,200,000		1,200,000
Provision for advances to direct-sales personnel			1,000,000		900,000
Vivint Services
Related Party Transaction [Line Items]
Fees incurred in conjunction with agreements entered	2,300,000	$ 2,500,000	4,100,000	$ 4,100,000
Accounts payable—related party	2,000,000		2,000,000		$ 2,100,000
Blackstone Advisory Partners L.P. | General and Administrative
Related Party Transaction [Line Items]
Placement fees	$ 4,400,000	$ 0	$ 4,400,000	$ 2,200,000
Blackstone Advisory Partners L.P. | Minimum
Related Party Transaction [Line Items]
Percentage of placement fee						0.75%	0.00%
Blackstone Advisory Partners L.P. | Maximum
Related Party Transaction [Line Items]
Percentage of placement fee						1.50%	2.00%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Other Commitments [Line Items]
Build-to-suit assets	$ 6,619,000		$ 6,619,000
Long term purchase agreement, description			In 2015, the Company entered into long term purchase agreements with certain key suppliers. These agreements require the Company to make minimum volume purchases on a quarterly basis. As of June 30, 2015, the Company has met these minimum purchase requirements,
Long term purchase agreement, additional liability			$ 0
Legal Reserve
Other Commitments [Line Items]
Proposed settlement agreement			400,000
Legal proceedings reserve			400,000
Non-Cancellable Operating Leases
Other Commitments [Line Items]
Aggregate operating lease expense	2,400,000	$ 1,000,000	4,700,000	$ 1,400,000
Build To Suit Lease Arrangements
Other Commitments [Line Items]
Build-to-suit assets	$ 6,600,000		$ 6,600,000

Basic and Diluted Net Income Pe

Basic and Diluted Net Income Per Share - Computation of Basic and Diluted Net Loss per Share to Common Stockholders (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Numerator:
Net income available to common stockholders	$ 13,653	$ 5,493	$ 25,802	$ 12,534
Denominator:
Shares used in computing net income available per share to common stockholders, basic	105,988	75,000	105,647	75,000
Weighted-average effect of potentially dilutive shares to purchase common stock	3,806	1,267	3,777	1,194
Shares used in computing net income available per share to common stockholders, diluted	109,794	76,267	109,424	76,194
Net income available per share to common stockholders:
Basic	$ 0.13	$ 0.07	$ 0.24	$ 0.17
Diluted	$ 0.12	$ 0.07	$ 0.24	$ 0.16

Basic and Diluted Net Income 68

Basic and Diluted Net Income Per Share - Additional Information (Details) - shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Number of shares outstanding	9,344,000		10,053,000
Long Term Incentive Plan
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		0
Performance Shares
Schedule Of Earnings Per Share Basic And Diluted [Line Items]
Number of shares outstanding	3,300,000	6,500,000
Performance-based stock options not included in the computation of diluted net income per share	3,300,000	6,500,000

Segment Information - Additiona

Segment Information - Additional Information (Details)		3 Months Ended			6 Months Ended
		Jun. 30, 2015USD ($)Segment	Mar. 31, 2015Segment	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)Segment	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Segment Reporting Information [Line Items]
Number of reporting segments | Segment		2	1		2
Total assets	[1]	$ 1,315,918,000			$ 1,315,918,000		$ 1,064,324,000
Total revenue		16,135,000		$ 6,558,000	$ 25,680,000	$ 10,065,000
C&I
Segment Reporting Information [Line Items]
Number of projects initiated | Segment					0
Total assets		0			$ 0
Total revenue		$ 0			$ 0
[1]	The Company’s assets as of June 30, 2015 and December 31, 2014 include $750.6 million and $540.1 million consisting of assets of variable interest entities, or VIEs, that can only be used to settle obligations of the VIEs. These assets include solar energy systems, net, of $732.5 million and $525.9 million as of June 30, 2015 and December 31, 2014; cash and cash equivalents of $12.8 million and $12.6 million as of June 30, 2015 and December 31, 2014; and accounts receivable, net, of $5.3 million and $1.5 million as of June 30, 2015 and December 31, 2014. The Company’s liabilities as of June 30, 2015 and December 31, 2014 included $13.3 million and $11.4 million of liabilities of VIEs whose creditors have no recourse to the Company. These liabilities include distributions payable to non-controlling interests and redeemable non-controlling interests of $5.8 million and $6.8 million as of June 30, 2015 and December 31, 2014; deferred revenue of $7.5 million and $4.6 million as of June 30, 2015 and December 31, 2014; and accrued and other current liabilities of $0.1 million and $0 as of June 30, 2015 and December 31, 2014. For further information see Note 10—Investment Funds.

Segment Information - Operating

Segment Information - Operating Results By Reporting Segment (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenue:
Operating leases and incentives	$ 15,301,000	$ 5,804,000	$ 23,881,000	$ 8,667,000
Solar energy system and product sales	834,000	754,000	1,799,000	1,398,000
Total revenue	16,135,000	6,558,000	25,680,000	10,065,000
Operating expenses:
Cost of revenue—operating leases and incentives	33,295,000	16,459,000	57,175,000	27,646,000
Cost of revenue—solar energy system and product sales	476,000	485,000	914,000	883,000
Sales and marketing	18,697,000	5,790,000	25,130,000	11,009,000
Research and development	920,000	500,000	1,502,000	972,000
General and administrative	31,364,000	13,752,000	49,994,000	26,106,000
Amortization of intangible assets	3,721,000	3,691,000	7,484,000	7,428,000
Impairment of intangible assets			4,506,000
Total operating expenses	88,473,000	40,677,000	146,705,000	74,044,000
Loss from operations	(72,338,000)	$ (34,119,000)	(121,025,000)	$ (63,979,000)
Residential
Revenue:
Operating leases and incentives	15,301,000		23,881,000
Solar energy system and product sales	834,000		1,799,000
Total revenue	16,135,000		25,680,000
Operating expenses:
Cost of revenue—operating leases and incentives	33,295,000		57,175,000
Cost of revenue—solar energy system and product sales	476,000		914,000
Sales and marketing	18,461,000		24,894,000
Research and development	920,000		1,502,000
General and administrative	29,363,000		47,993,000
Amortization of intangible assets	3,721,000		7,484,000
Impairment of intangible assets			4,506,000
Total operating expenses	86,236,000		144,468,000
Loss from operations	(70,101,000)		(118,788,000)
C&I
Revenue:
Total revenue	0		0
Operating expenses:
Sales and marketing	236,000		236,000
General and administrative	2,001,000		2,001,000
Total operating expenses	2,237,000		2,237,000
Loss from operations	$ (2,237,000)		$ (2,237,000)

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) $ / shares in Units, $ in Millions	Jul. 20, 2015USD ($)$ / sharesMW	Jul. 31, 2015USD ($)ft²	Jun. 30, 2015
New Corporate Headquarters Building
Subsequent Event [Line Items]
Non-Cancellable operating leases, lease term			5 years
Subsequent Event
Subsequent Event [Line Items]
Business Acquisition, Purchase price	$ 2,200
Business acquisition, share price | $ / shares	$ 16.50
Termination fee	$ 62
Subsequent Event | New Corporate Headquarters Building
Subsequent Event [Line Items]
Non-Cancellable operating leases, lease term		12 years
Non-Cancellable operating leases, agreement terms		These amendments included an extension of the lease term to 12 years from five years with the option to extend for two additional periods of five years, an increase in the leased premises by approximately 32,000 square feet and a change in the base rent that will commence at approximately $0.3 million per month and increase over the term of the lease, as amended, at a rate of 2.5% annually.
Non-Cancellable operating leases, lease renewal term		5 years
Increase of lease office premises | ft²		32,000
Aggregate monthly rental		$ 0.3
Lease rental expenses increase rate		2.50%
Non-Cancellable operating leases, minimum lease payment over the term		$ 36.1
Subsequent Event | Second Office and Studio Building
Subsequent Event [Line Items]
Non-Cancellable operating leases, lease term		12 years
Non-Cancellable operating leases, agreement terms		The studio building is expected to be available in the second quarter 2016. The second office building is expected to be available in the first quarter of 2018, and the Company has the option to move the commencement date forward by providing a 12-month notice. Both leases have a term of 12 years with the option to extend for two additional periods of five years. The aggregate monthly rent payments under both leases will commence at approximately $0.4 million and increase at a rate of 2.5% annually.
Non-Cancellable operating leases, lease renewal term		5 years
Increase of lease office premises | ft²		160,000
Aggregate monthly rental		$ 0.4
Lease rental expenses increase rate		2.50%
Non-Cancellable operating leases, minimum lease payment over the term		$ 56.8
Subsequent Event | Sun Edison Inc
Subsequent Event [Line Items]
Business acquisition, amount per share price paid as cash | $ / shares	$ 9.89
Subsequent Event | Sun Edison Inc | Rooftop Solar Portfolio
Subsequent Event [Line Items]
Expected Power Production Capacity | MW	523
Business acquisition, amount paid in cash	$ 922
Subsequent Event | Sun Edison Inc | Common Stock
Subsequent Event [Line Items]
Business acquisition, amount per share price paid in kind | $ / shares	$ 3.31
Subsequent Event | Sun Edison Inc | Convertible Debt Securities
Subsequent Event [Line Items]
Business acquisition, amount per share price paid in kind | $ / shares	$ 3.30