Sunnova Energy International (NOVA) 10-Q 28 Apr 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	Apr. 25, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-38995
Entity Registrant Name	Sunnova Energy International Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	30-1192746
Entity Address, Address Line One	20 East Greenway Plaza, Suite 540
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77046
City Area Code	281
Local Phone Number	892-1588
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	NOVA
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		114,627,126
Entity Central Index Key	0001772695
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false
Current Fiscal Year End Date	--12-31

UNAUDITED CONDENSED CONSOLIDATE

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash		$ 208,495	$ 243,101
Accounts receivable—trade, net		21,267	18,584
Accounts receivable—other		49,650	57,736
Other current assets, net of allowance of $1,911 and $1,646 as of March 31, 2022 and December 31, 2021, respectively		283,139	296,321
Total current assets		562,551	615,742
Property and equipment, net		3,056,898	2,909,613
Customer notes receivable, net of allowance of $45,907 and $39,492 as of March 31, 2022 and December 31, 2021, respectively		1,449,991	1,204,073
Intangible assets, net		183,407	190,520
Goodwill		13,150	13,150
Other assets		662,456	571,136
Total assets	[1]	5,928,453	5,504,234
Current liabilities:
Accounts payable		72,452	55,033
Accrued expenses		80,736	81,721
Current portion of long-term debt		155,113	129,793
Other current liabilities		37,315	44,350
Total current liabilities		345,616	310,897
Long-term debt, net		3,461,614	3,135,681
Other long-term liabilities		468,614	436,043
Total liabilities	[1]	4,275,844	3,882,621
Commitments and contingencies
Redeemable noncontrolling interests		145,186	145,336
Stockholders' equity:
Common stock, 113,911,388 and 113,386,600 shares issued as of March 31, 2022 and December 31, 2021, respectively, at $0.0001 par value		11	11
Additional paid-in capital—common stock		1,657,087	1,649,199
Accumulated deficit		(423,529)	(459,715)
Total stockholders' equity		1,233,569	1,189,495
Noncontrolling interests		273,854	286,782
Total equity		1,507,423	1,476,277
Total liabilities, redeemable noncontrolling interests and equity		$ 5,928,453	$ 5,504,234
[1]	The consolidated assets as of March 31, 2022 and December 31, 2021 include $2,265,181 and $2,148,398, respectively, of assets of variable interest entities ("VIEs") that can only be used to settle obligations of the VIEs. These assets include cash of $25,794 and $23,538 as of March 31, 2022 and December 31, 2021, respectively; accounts receivable—trade, net of $6,910 and $6,167 as of March 31, 2022 and December 31, 2021, respectively; accounts receivable—other of $595 and $410 as of March 31, 2022 and December 31, 2021, respectively; other current assets of $224,921 and $272,421 as of March 31, 2022 and December 31, 2021, respectively; property and equipment, net of $1,974,277 and $1,817,471 as of March 31, 2022 and December 31, 2021, respectively; and other assets of $32,684 and $28,391 as of March 31, 2022 and December 31, 2021, respectively. The consolidated liabilities as of March 31, 2022 and December 31, 2021 include $51,588 and $47,225, respectively, of liabilities of VIEs whose creditors have no recourse to Sunnova Energy International Inc. These liabilities include accounts payable of $5,951 and $6,014 as of March 31, 2022 and December 31, 2021, respectively; accrued expenses of $11 and $88 as of March 31, 2022 and December 31, 2021, respectively; other current liabilities of $4,930 and $3,845 as of March 31, 2022 and December 31, 2021, respectively; and other long-term liabilities of $40,696 and $37,278 as of March 31, 2022 and December 31, 2021, respectively.

UNAUDITED CONDENSED CONSOLIDA_2

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands		Mar. 31, 2022	Dec. 31, 2021
Other current asset, allowance		$ 1,911	$ 1,646
Customer notes receivable, allowance		$ 45,907	$ 39,492
Common stock, issued (in shares)		113,911,388	113,386,600
Common stock, par value (in USD per share)		$ 0.0001	$ 0.0001
Assets	[1]	$ 5,928,453	$ 5,504,234
Cash		208,495	243,101
Accounts receivable—trade, net		21,267	18,584
Accounts receivable—other		49,650	57,736
Other current assets		283,139	296,321
Property and equipment, net		3,056,898	2,909,613
Other assets		662,456	571,136
Liabilities	[1]	4,275,844	3,882,621
Accounts payable		72,452	55,033
Accrued expenses		80,736	81,721
Other current liabilities		37,315	44,350
Other long-term liabilities		468,614	436,043
Primary beneficiary
Assets		2,265,181	2,148,398
Cash		25,794	23,538
Accounts receivable—trade, net		6,910	6,167
Accounts receivable—other		595	410
Other current assets		224,921	272,421
Property and equipment, net		1,974,277	1,817,471
Other assets		32,684	28,391
Liabilities		51,588	47,225
Accounts payable		5,951	6,014
Accrued expenses		11	88
Other current liabilities		4,930	3,845
Other long-term liabilities		$ 40,696	$ 37,278
[1]	The consolidated assets as of March 31, 2022 and December 31, 2021 include $2,265,181 and $2,148,398, respectively, of assets of variable interest entities ("VIEs") that can only be used to settle obligations of the VIEs. These assets include cash of $25,794 and $23,538 as of March 31, 2022 and December 31, 2021, respectively; accounts receivable—trade, net of $6,910 and $6,167 as of March 31, 2022 and December 31, 2021, respectively; accounts receivable—other of $595 and $410 as of March 31, 2022 and December 31, 2021, respectively; other current assets of $224,921 and $272,421 as of March 31, 2022 and December 31, 2021, respectively; property and equipment, net of $1,974,277 and $1,817,471 as of March 31, 2022 and December 31, 2021, respectively; and other assets of $32,684 and $28,391 as of March 31, 2022 and December 31, 2021, respectively. The consolidated liabilities as of March 31, 2022 and December 31, 2021 include $51,588 and $47,225, respectively, of liabilities of VIEs whose creditors have no recourse to Sunnova Energy International Inc. These liabilities include accounts payable of $5,951 and $6,014 as of March 31, 2022 and December 31, 2021, respectively; accrued expenses of $11 and $88 as of March 31, 2022 and December 31, 2021, respectively; other current liabilities of $4,930 and $3,845 as of March 31, 2022 and December 31, 2021, respectively; and other long-term liabilities of $40,696 and $37,278 as of March 31, 2022 and December 31, 2021, respectively.

UNAUDITED CONDENSED CONSOLIDA_3

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenue	$ 65,722	$ 41,276
Operating expense:
Cost of revenue—depreciation	21,958	17,408
Cost of revenue—other	7,569	1,234
Operations and maintenance	6,761	3,620
General and administrative	70,223	42,320
Other operating income	(6,583)	0
Total operating expense, net	99,928	64,582
Operating loss	(34,206)	(23,306)
Interest expense, net	(2,490)	8,051
Interest income	(10,932)	(7,180)
Other income	(155)	(113)
Loss before income tax	(20,629)	(24,064)
Income tax	0	0
Net loss	(20,629)	(24,064)
Net income attributable to redeemable noncontrolling interests and noncontrolling interests	12,954	8,919
Net loss attributable to stockholders	$ (33,583)	$ (32,983)
Net loss per share attributable to common stockholders - basic (in USD per share)	$ (0.30)	$ (0.31)
Net loss per share attributable to common stockholders - diluted (in USD per share)	$ (0.30)	$ (0.31)
Weighted average common shares outstanding - basic (in shares)	113,499,426	106,359,220
Weighted average common shares outstanding - diluted (in shares)	113,499,426	106,359,220

UNAUDITED CONDENSED CONSOLIDA_4

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (20,629)	$ (24,064)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	24,740	19,543
Impairment and loss on disposals, net	402	326
Amortization of intangible assets	7,113	0
Amortization of deferred financing costs	2,626	2,164
Amortization of debt discount	1,784	1,720
Non-cash effect of equity-based compensation plans	10,864	7,924
Unrealized gain on derivatives	(35,349)	(18,705)
Unrealized gain on fair value instruments	(6,362)	(113)
Other non-cash items	9,482	(3,644)
Changes in components of operating assets and liabilities:
Accounts receivable	4,958	(1,771)
Other current assets	(48,228)	(26,808)
Other assets	(22,639)	(7,501)
Accounts payable	(2,086)	(756)
Accrued expenses	9,620	10,626
Other current liabilities	(10,204)	(6,869)
Other long-term liabilities	(18,221)	(1,980)
Net cash used in operating activities	(92,129)	(49,908)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment	(138,181)	(117,459)
Payments for investments and customer notes receivable	(246,270)	(122,532)
Proceeds from customer notes receivable	23,740	13,459
Proceeds from investments in solar receivables	1,798	0
State utility rebates and tax credits	115	111
Other, net	1,148	208
Net cash used in investing activities	(357,650)	(226,213)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from long-term debt	391,903	311,280
Payments of long-term debt	(39,639)	(174,800)
Payments on notes payable	0	(2,254)
Payments of deferred financing costs	(5,084)	(6,273)
Payments of debt discounts	0	(20)
Proceeds from issuance of common stock, net	(2,820)	(1,037)
Contributions from redeemable noncontrolling interests and noncontrolling interests	51,889	40,802
Distributions to redeemable noncontrolling interests and noncontrolling interests	(5,854)	(2,833)
Payments of costs related to redeemable noncontrolling interests and noncontrolling interests	(7,383)	(3,146)
Other, net	(199)	(28)
Net cash provided by financing activities	382,813	161,691
Net decrease in cash and restricted cash	(66,966)	(114,430)
Cash and restricted cash at beginning of period	391,897	377,893
Cash and restricted cash at end of period	324,931	263,463
Restricted cash included in other current assets	(34,958)	(43,603)
Restricted cash included in other assets	(81,478)	(68,968)
Cash	208,495	150,892
Non-cash investing and financing activities:
Change in accounts payable and accrued expenses related to purchases of property and equipment	10,026	3,272
Change in accounts payable and accrued expenses related to payments for investments and customer notes receivable	3,050	(9,107)
Non-cash conversion of convertible senior notes for common stock	0	95,648
Supplemental cash flow information:
Cash paid for interest	36,926	28,180
Cash paid for income taxes	$ 0	$ 0

UNAUDITED CONDENSED CONSOLIDA_5

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY - USD ($) $ in Thousands	Total	Cumulative-effect adjustment	Total Stockholders' Equity	Total Stockholders' EquityCumulative-effect adjustment	Common Stock	Additional Paid-in Capital - Common Stock	Accumulated Deficit	Accumulated DeficitCumulative-effect adjustment	Noncontrolling Interests
Redeemable noncontrolling interest, beginning balance at Dec. 31, 2020	$ 136,124
Increase (Decrease) in Redeemable Noncontrolling Interests [Roll Forward]
Net income (loss)	2,110
Distributions to redeemable noncontrolling interests and noncontrolling interests	(1,090)
Equity in subsidiaries attributable to parent	40
Other, net	(62)
Redeemable noncontrolling interest, ending balance at Mar. 31, 2021	137,122
Stockholders' equity, beginning balance (in shares) at Dec. 31, 2020					100,412,036
Stockholders' equity, beginning balance at Dec. 31, 2020	1,144,557	$ 2,254	$ 951,731	$ 2,254	$ 10	$ 1,482,716	$ (530,995)	$ 2,254	$ 192,826
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(26,174)		(32,983)				(32,983)		6,809
Issuance of stock, net (in shares)					8,141,766
Issuance of common stock, net	65,542		65,542		$ 1	65,541
Equity component of debt instrument	(8,807)		(8,807)			(8,807)
Contributions from noncontrolling interests	40,802								40,802
Distributions to redeemable noncontrolling interests and noncontrolling interests	(1,743)								(1,743)
Costs related to noncontrolling interests	(55)								(55)
Equity in subsidiaries attributable to parent	(40)		37,213				37,213		(37,253)
Equity-based compensation expense	7,924		7,924			7,924
Other, net	(475)		1			1			(476)
Stockholders' equity, ending balance (in shares) at Mar. 31, 2021					108,553,802
Stockholders' equity, ending balance at Mar. 31, 2021	1,223,785		1,022,875		$ 11	1,547,375	(524,511)		200,910
Redeemable noncontrolling interest, beginning balance at Dec. 31, 2021	145,336
Increase (Decrease) in Redeemable Noncontrolling Interests [Roll Forward]
Net income (loss)	(2,432)
Contributions from redeemable noncontrolling interests and noncontrolling interests	3,757
Distributions to redeemable noncontrolling interests and noncontrolling interests	(1,122)
Costs related to redeemable noncontrolling interests and noncontrolling interests	(57)
Equity in subsidiaries attributable to parent	(173)
Other, net	(123)
Redeemable noncontrolling interest, ending balance at Mar. 31, 2022	145,186
Stockholders' equity, beginning balance (in shares) at Dec. 31, 2021					113,386,600
Stockholders' equity, beginning balance at Dec. 31, 2021	1,476,277		1,189,495		$ 11	1,649,199	(459,715)		286,782
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(18,197)		(33,583)				(33,583)		15,386
Issuance of stock, net (in shares)					524,788
Issuance of common stock, net	(2,976)		(2,976)			(2,976)
Contributions from noncontrolling interests	48,132								48,132
Distributions to redeemable noncontrolling interests and noncontrolling interests	(4,732)								(4,732)
Costs related to noncontrolling interests	(2,292)								(2,292)
Equity in subsidiaries attributable to parent	173		69,769				69,769		(69,596)
Equity-based compensation expense	10,864		10,864			10,864
Other, net	174								174
Stockholders' equity, ending balance (in shares) at Mar. 31, 2022					113,911,388
Stockholders' equity, ending balance at Mar. 31, 2022	$ 1,507,423		$ 1,233,569		$ 11	$ 1,657,087	$ (423,529)		$ 273,854

Description of Business and Bas

Description of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation We are a leading residential energy service provider, serving over 207,000 customers in more than 25 United States ("U.S.") states and territories. Sunnova Energy Corporation was incorporated in Delaware on October 22, 2012 and formed Sunnova Energy International Inc. ("SEI") as a Delaware corporation on April 1, 2019. We completed our initial public offering on July 29, 2019 (our "IPO"); and in connection with our IPO, all of Sunnova Energy Corporation's ownership interests were contributed to SEI. Unless the context otherwise requires, references in this report to "Sunnova," the "Company," "we," "our," "us," or like terms, refer to SEI and its consolidated subsidiaries. We have a differentiated residential solar dealer model in which we partner with local dealers who originate, design and install our customers' solar energy systems, energy storage systems and related products and services on our behalf. Our focus on our dealer model enables us to leverage our dealers' specialized knowledge, connections and experience in local markets to drive customer origination while providing our dealers with access to high quality products at competitive prices, as well as technical oversight and expertise. We believe this structure provides operational flexibility, reduces exposure to labor shortages and lowers fixed costs relative to our peers, furthering our competitive advantage. We provide our services through long-term agreements with a diversified pool of credit quality customers. Our solar service agreements typically are structured as either a legal-form lease (a "lease") of a solar energy system and/or energy storage system to the customer, the sale of the solar energy system's output to the customer under a power purchase agreement ("PPA") or the purchase of a solar energy system and/or energy storage system with financing provided by us (a "loan"); however, we also offer service plans for systems we did not originate. We make it possible in some states for a customer to obtain a new roof and other ancillary products as part of their solar loan. We also allow customers originated through our homebuilder channel the option of purchasing the system when the customer closes on the purchase of a new home. The initial term of our solar service agreements is typically between 10 and 25 years, during which time we provide or arrange for ongoing services to customers, including monitoring, maintenance and warranty services. Our lease and PPA agreements typically include an opportunity for customers to renew for up to an additional 10 years, via two five-year or one 10-year renewal options. Customer payments and rates can be fixed for the duration of the solar service agreement or escalated at a pre-determined percentage annually. We also receive tax benefits and other incentives from leases and PPAs, a portion of which we finance through tax equity, non-recourse debt structures and hedging arrangements in order to fund our upfront costs, overhead and growth investments. Our future success depends in part on our ability to raise capital from third-party investors and commercial sources. We have an established track record of attracting capital from diverse sources. From our inception through March 31, 2022, we have raised more than $9.4 billion in total capital commitments from equity, debt and tax equity investors. Basis of Presentation The accompanying interim unaudited condensed consolidated financial statements ("interim financial statements") include our consolidated balance sheets, statements of operations, statements of redeemable noncontrolling interests and equity and statements of cash flows and have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") from records maintained by us. We have condensed or omitted certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP pursuant to the applicable rules and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. As such, these interim financial statements should be read in conjunction with our 2021 annual audited consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K filed with the SEC on February 24, 2022. Our interim financial statements reflect all normal recurring adjustments necessary, in our opinion, to state fairly our financial position and results of operations for the reported periods. Amounts reported for interim periods may not be indicative of a full year period because of our continual growth, seasonal fluctuations in demand for power, timing of maintenance and other expenditures, changes in interest expense and other factors. Our interim financial statements include our accounts and those of our subsidiaries in which we have a controlling financial interest. In accordance with the provisions of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 810, Consolidation , we consolidate any VIE of which we are the primary beneficiary. We form VIEs with our investors in the ordinary course of business to facilitate the funding and monetization of certain attributes associated with our solar energy systems. The typical condition for a controlling financial interest is holding a majority of the voting interests of an entity. However, a controlling financial interest may also exist in entities, such as VIEs, through arrangements that do not involve holding a majority of the voting interests. A primary beneficiary is defined as the party that has (a) the power to direct the activities of a VIE that most significantly impact the VIE's economic performance and (b) the obligation to absorb losses or receive benefits from the VIE that could potentially be significant to the VIE. We do not consolidate a VIE in which we have a majority ownership interest when we are not considered the primary beneficiary. We have considered the provisions within the contractual arrangements that grant us power to manage and make decisions that affect the operation of our VIEs, including determining the solar energy systems contributed to the VIEs, and the installation, operation and maintenance of the solar energy systems. We consider the rights granted to the other investors under the contractual arrangements to be more protective in nature rather than substantive participating rights. As such, we have determined we are the primary beneficiary of our VIEs and evaluate our relationships with our VIEs on an ongoing basis to determine whether we continue to be the primary beneficiary. We have eliminated all intercompany transactions in consolidation. Coronavirus ("COVID-19") Pandemic The ongoing COVID-19 pandemic has resulted and may continue to result in widespread adverse impacts on the global economy. We have experienced some resulting disruptions to our business operations as the COVID-19 virus has continued to circulate through the states and U.S. territories in which we operate. Throughout the COVID-19 pandemic, we have continued to service and install solar energy systems and energy storage systems. The industry is currently facing shortages and shipping delays affecting the supply of energy storage systems, modules and component parts for inverters and racking used in solar energy systems available for purchase. These shortages and delays can be attributed in part to the COVID-19 pandemic and resulting government action, as well as to allegations regarding the use of forced labor in the Chinese polysilicon supply chain. While a majority of our dealers have secured sufficient quantities to permit them to continue installing through much of 2022, if these shortages and delays persist, they could impact the timing of when solar energy systems and energy storage systems can be installed and when we can acquire and begin to generate revenue from those systems. In addition, if supply chains become significantly disrupted due to additional outbreaks of the COVID-19 virus or otherwise, or more stringent health and safety guidelines are implemented, our ability to install and service solar energy systems and energy storage systems could become adversely impacted. We cannot predict the full impact the COVID-19 pandemic will have on our business, cash flows, liquidity, financial condition and results of operations at this time due to numerous uncertainties. We will continue to monitor developments affecting our workforce, our customers and our business operations generally, and will take actions we determine are necessary in order to mitigate these impacts.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Included below are updates to significant accounting policies disclosed in our 2021 annual audited consolidated financial statements. Use of Estimates The application of GAAP in the preparation of the interim financial statements requires us to make estimates and assumptions that affect the amounts reported in the interim financial statements and accompanying notes. We base our 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. Accounts Receivable Accounts Receivable—Trade. Accounts receivable—trade primarily represents trade receivables from residential customers that are generally collected in the subsequent month. Accounts receivable—trade is recorded net of an allowance for credit losses, which is based on our assessment of the collectability of customer accounts based on the best available data at the time. We review the allowance by considering factors such as historical experience, customer credit rating, contractual term, aging category and current economic conditions that may affect a customer's ability to pay to identify customers with potential disputes or collection issues. We write off accounts receivable when we deem them uncollectible. As of March 31, 2022, we have not experienced a significant increase in delinquent customer accounts and have not made any significant adjustments to our allowance for credit losses related to accounts receivable—trade as a result of the COVID-19 pandemic. The following table presents the changes in the allowance for credit losses recorded against accounts receivable — trade, net in the unaudited condensed consolidated balance sheets: As of March 31, 2022 2021 (in thousands) Balance at beginning of period $ 1,044 $ 912 Provision for current expected credit losses 475 396 Write off of uncollectible accounts (506) (496) Recoveries 52 36 Balance at end of period $ 1,065 $ 848 Accounts Receivable—Other. Accounts receivable—other primarily represents receivables from our dealers related to the use of inventory procured by us. Inventory Inventory is stated at the lower of cost and net realizable value using the first-in, first-out method. Inventory primarily represents (a) raw materials, such as energy storage systems, photovoltaic modules, inverters, meters and modems, (b) homebuilder construction in progress and (c) other associated equipment purchased. These materials are typically procured by us and used by our dealers or held for use as original parts on new solar energy systems or replacement parts on existing solar energy systems. We remove these items from inventory and record the transaction in typically one of these manners: (a) expense to operations and maintenance expense when installed as a replacement part for a solar energy system, (b) recognize in accounts receivable—other when procured by us and used by our dealers, (c) expense to cost of revenue if sold directly to a customer, (d) capitalize to property and equipment when installed on an existing home or (e) capitalize to property and equipment when placed in service under the homebuilder program. We periodically evaluate our inventory for unusable and obsolete items based on assumptions about future demand and market conditions. Based on this evaluation, provisions are made to write inventory down to market value. The following table presents the detail of inventory as recorded in other current assets in the unaudited condensed consolidated balance sheets: As of As of (in thousands) Modules and inverters $ 51,984 $ 60,661 Energy storage systems and components 66,297 43,071 Homebuilder construction in progress 31,639 23,642 Meters and modems 597 581 Total $ 150,517 $ 127,955 Fair Value of Financial Instruments Fair value is an exit price representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions market participants would use in pricing an asset or a liability. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. ASC 820 establishes a three-tier fair value hierarchy, which prioritizes inputs that may be used to measure fair value as follows: • Level 1—Observable inputs that reflect unadjusted quoted market prices in active markets for identical assets or liabilities that are accessible at the measurement date. • Level 2—Observable inputs other than Level 1 prices, such as quoted market prices for similar assets or liabilities in active markets, quoted market prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy must be determined based on the lowest level input that is significant to the fair value measurement. An assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to the asset or liability. Our financial instruments include cash, accounts receivable, customer notes receivable, investments in solar receivables, accounts payable, accrued expenses, long-term debt, interest rate swaps and contingent consideration. The carrying values of accounts receivable, accounts payable and accrued expenses approximate the fair values due to the fact that they are short-term in nature and based on quoted market prices in active markets for identical assets or liabilities that are accessible at the measurement date (Level 1). We estimate the fair value of our customer notes receivable based on interest rates currently offered under the loan program with similar maturities and terms (Level 3). We estimate the fair value of our investments in solar receivables based on a discounted cash flows model that utilizes market data related to solar irradiance, production factors by region and projected electric utility rates in order to build up revenue projections (Level 3). In addition, lease-related revenue and maintenance and service costs were supported through the use of available market studies and data. We estimate the fair value of our fixed-rate long-term debt based on interest rates currently offered for debt with similar maturities and terms (Level 3). We determine the fair values of the interest rate derivative transactions based on a discounted cash flow method using contractual terms of the transactions. The floating interest rate is based on observable rates consistent with the frequency of the interest cash flows (Level 2). For contingent consideration, we estimate the fair value of the installation earnout using the Monte Carlo model and the microgrid earnout using a scenario-based methodology, both using Level 3 inputs. See Note 6, Customer Notes Receivable, Note 7, Long-Term Debt and Note 8, Derivative Instruments. The following table presents our financial instruments measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021: As of March 31, 2022 Total Level 1 Level 2 Level 3 (in thousands) Financial assets: Investments in solar receivables $ 77,578 $ — $ — $ 77,578 Derivative assets 44,370 — 44,370 — Total $ 121,948 $ — $ 44,370 $ 77,578 Financial liabilities: Contingent consideration $ 41,915 $ — $ — $ 41,915 Total $ 41,915 $ — $ — $ 41,915 As of December 31, 2021 Total Level 1 Level 2 Level 3 (in thousands) Financial assets: Investments in solar receivables $ 82,658 $ — $ — $ 82,658 Derivative assets 14,351 — 14,351 — Total $ 97,009 $ — $ 14,351 $ 82,658 Financial liabilities: Contingent consideration $ 67,895 $ — $ — $ 67,895 Derivative liabilities 5,330 — 5,330 — Total $ 73,225 $ — $ 5,330 $ 67,895 Changes in fair value of our investments in solar receivables are included in other operating income in the consolidated statements of operations. The following table summarizes the change in fair value of our financial assets accounted for at fair value on a recurring basis using Level 3 inputs as recorded in other current assets and other assets in the unaudited condensed consolidated balance sheets: Three Months Ended 2022 2021 (in thousands) Balance at beginning of period $ 82,658 $ — Settlements (1,320) — Loss recognized in earnings (3,760) — Balance at end of period $ 77,578 $ — Changes in fair value of the contingent consideration are included in other operating income in the consolidated statements of operations. The following table summarizes the change in fair value of our financial liabilities accounted for at fair value on a recurring basis using Level 3 inputs as recorded in other long-term liabilities in the unaudited condensed consolidated balance sheets: Three Months Ended 2022 2021 (in thousands) Balance at beginning of period $ 67,895 $ — Settlements/reclassifications (1) (16,013) — Gain recognized in earnings (9,967) — Balance at end of period $ 41,915 $ — (1) Amount was reclassified to accrued expenses as of March 31, 2022 and settled in April 2022. See Note 14, Subsequent Events. Revenue The following table presents the detail of revenue as recorded in the unaudited condensed consolidated statements of operations: Three Months Ended 2022 2021 (in thousands) PPA revenue $ 21,185 $ 16,834 Lease revenue 21,780 16,397 Solar renewable energy certificate revenue 6,244 5,957 Cash sales revenue 11,348 — Loan revenue 3,376 1,195 Other revenue 1,789 893 Total $ 65,722 $ 41,276 We recognize revenue from contracts with customers as we satisfy our performance obligations at a transaction price reflecting an amount of consideration based upon an estimated rate of return, net of cash incentives. We express this rate of return as the solar rate per kilowatt hour ("kWh") in the customer contract. The amount of revenue we recognize does not equal customer cash payments because we satisfy performance obligations ahead of cash receipt or evenly as we provide continuous access on a stand-ready basis to the solar energy system. We reflect the differences between revenue recognition and cash payments received in accounts receivable, other assets or deferred revenue, as appropriate. Revenue allocated to remaining performance obligations represents contracted revenue we have not yet recognized and includes deferred revenue as well as amounts that will be invoiced and recognized as revenue in future periods. Contracted but not yet recognized revenue was approximately $2.3 billion as of March 31, 2022, of which we expect to recognize approximately 4% over the next 12 months. We do not expect the annual recognition to vary significantly over approximately the next 20 years as the vast majority of existing solar service agreements have at least 20 years remaining, given the average age of the fleet of solar energy systems under contract is less than four years. Certain customers may receive cash incentives. We defer recognition of the payment of these cash incentives and recognize them over the life of the contract as a reduction to revenue. The deferred payment is recorded in other assets for customers who receive the cash incentives under our lease and PPA agreements, and as a contra-liability in other long-term liabilities for customers who receive the cash incentives under our loan agreements. PPAs. Customers purchase electricity from us under PPAs. Pursuant to ASC 606, we recognize revenue based upon the amount of electricity delivered as determined by remote monitoring equipment at solar rates specified under the PPAs. All customers must pass our credit evaluation process. The PPAs generally have a term of 20 or 25 years with an opportunity for customers to renew for up to an additional 10 years, via two five-year or one 10-year renewal options. Leases . We are the lessor under lease agreements for solar energy systems and energy storage systems, which do not meet the definition of a lease under ASC 842 and are accounted for as contracts with customers under ASC 606. We recognize revenue on a straight-line basis over the contract term as we satisfy our obligation to provide continuous access to the solar energy system. All customers must pass our credit evaluation process. The lease agreements generally have a term of 20 or 25 years with an opportunity for customers to renew for up to an additional 10 years, via two five-year or one 10-year renewal options. In most cases, we provide customers under our lease agreements a performance guarantee that each solar energy system will achieve a certain specified minimum solar energy production output, which is a significant proportion of its expected output. The specified minimum solar energy production output may not be achieved due to natural fluctuations in the weather or equipment failures from exposure and wear and tear outside of our control, among other factors. We determine the amount of the guaranteed output based on a number of different factors, including: (a) the specific site information relating to the tilt of the panels, azimuth (a horizontal angle measured clockwise in degrees from a reference direction) of the panels, size of the system, and shading on site; (b) the calculated amount of available irradiance (amount of energy for a given flat surface facing a specific direction) based on historical average weather data and (c) the calculated amount of energy output of the solar energy system. While actual irradiance levels can significantly change year over year due to natural fluctuations in the weather, we expect the levels to average out over the term of a lease and to approximate the levels used in determining the amount of the performance guarantee. Generally, weather fluctuations are the most likely reason a solar energy system may not achieve a certain specified minimum solar energy production output. If the solar energy system does not produce the guaranteed production amount, we are required to refund a portion of the previously remitted customer payments, where the repayment is calculated as the product of (a) the shortfall production amount and (b) the dollar amount (guaranteed rate) per kWh that is fixed throughout the term of the contract. These remittances of a customer's payments, if needed, are payable as early as the first anniversary of the solar energy system's placed in service date and then every annual period thereafter. See Note 13, Commitments and Contingencies. Solar Renewable Energy Certificates. Each solar renewable energy certificate ("SREC") represents the environmental benefit of one megawatt hour (1,000 kWh) generated by a solar energy system. SRECs can be sold separate from the actual electricity generated by the renewable-based generation source. We account for the SRECs we generate from our solar energy systems as governmental incentives with no costs incurred to obtain them and do not consider those SRECs output of the underlying solar energy systems. We classify these SRECs as inventory held until sold and delivered to third parties. As we did not incur costs to obtain these governmental incentives, the inventory carrying value for the SRECs was $0 as of March 31, 2022 and December 31, 2021. We enter into economic hedges related to expected production of SRECs through forward contracts. While these fixed price forward contracts serve as an economic hedge against spot price fluctuations for the SRECs, the contracts do not qualify for hedge accounting and are not designated as cash flow hedges or fair value hedges. The contracts require us to physically deliver the SRECs upon settlement. We recognize the related revenue under ASC 606 upon satisfaction of the performance obligation to transfer the SRECs to the stated counterparty. Payments are typically received within one month of transferring the SREC to the counterparty. The costs related to the sales of SRECs are generally limited to broker fees (recorded in cost of revenue—other), which are only paid in connection with certain transactions. In certain circumstances we are required to purchase SRECs on the open market to fulfill minimum delivery requirements under our forward contracts. Cash Sales. Cash sales revenue represents revenue from a customer's purchase of a solar energy system from us typically when purchasing a new home. We recognize the related revenue under ASC 606 upon verification of the home closing. Loans. See discussion of loan revenue in the " Loans " section below. Other Revenue. Other revenue includes certain state and utility incentives, revenue from the direct sale of solar energy systems and energy storage systems to customers with financing provided by us, sales of service plans and revenue from our investments in solar receivables. We recognize revenue from state and utility incentives in the periods in which they are earned. We recognize revenue from the direct sale of energy storage systems in the period in which the storage components are placed in service. Service plans are available to customers whose solar energy system was not originally sold by Sunnova. We recognize revenue from service plan contracts over the life of the contract, which is typically 10 years. We recognize revenue from our investments in solar receivables over the life of the associated customer agreements. Loans We offer a loan program, under which the customer finances the purchase of a solar energy system or energy storage system through a solar service agreement, typically for a term of 10, 15 or 25 years. We recognize cash payments received from customers on a monthly basis under our loan program (a) as interest income, to the extent attributable to earned interest on the contract that financed the customer's purchase of the solar energy system or energy storage system; (b) as a reduction of a note receivable on the balance sheet, to the extent attributable to a return of principal (whether scheduled or prepaid) on the contract that financed the customer's purchase of the solar energy system or energy storage system; and (c) as revenue, to the extent attributable to payments for operations and maintenance services provided by us. To qualify for the loan program, a customer must pass our credit evaluation process, which requires the customer to have a minimum FICO ® score of 600 to 730 depending on certain circumstances, and we secure the loans with the solar energy systems or energy storage systems financed. The credit evaluation process is performed once for each customer at the time the customer is entering into the solar service agreement with us. Our investments in solar energy systems and energy storage systems related to the loan program that are not yet placed in service are recorded in other assets in the consolidated balance sheets and are transferred to customer notes receivable upon being placed in service. Customer notes receivable are recorded at amortized cost, net of an allowance for credit losses (as described below), in other current assets and customer notes receivable in the consolidated balance sheets. Accrued interest receivable related to our customer notes receivable is recorded in accounts receivable—trade, net in the consolidated balance sheets. Interest income from customer notes receivable is recorded in interest income in the consolidated statements of operations. The amortized cost of our customer notes receivable is equal to the principal balance of customer notes receivable outstanding and does not include accrued interest receivable. Customer notes receivable continue to accrue interest until they are written off against the allowance, which occurs when the balance is 180 days or more past due unless the balance is in the process of collection. Customer notes receivable are considered past due one day after the due date based on the contractual terms of the loan agreement. In all cases, customer notes receivable balances are placed on a nonaccrual status or written off at an earlier date when they are deemed uncollectible. Expected recoveries do not exceed the aggregate of amounts previously written off and expected to be written off. Accrued interest receivable for customer notes receivable placed on a nonaccrual status is recorded as a reduction to interest income. Interest received on such customer notes receivable is accounted for on a cash basis until the customer notes receivable qualifies for the return to accrual status. Customer notes receivable are returned to accrual status when there is no longer any principal or interest amounts past due and future payments are reasonably assured. The allowance for credit losses is deducted from the customer notes receivable amortized cost to present the net amount expected to be collected. It is measured on a collective (pool) basis when similar risk characteristics (such as financial asset type, customer credit rating, contractual term and vintage) exist. In determining the allowance for credit losses, we identify customers with potential disputes or collection issues and consider our historical level of credit losses and current economic trends that might impact the level of future credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics, such as differences in underwriting standards. Expected credit losses are estimated over the contractual term of the loan agreements based on the best available data at the time and adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals and modifications unless either of the following applies: (a) we have a reasonable expectation at the reporting date that a troubled debt restructuring will be executed with an individual customer or (b) the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancelable by us. As of March 31, 2022, we have not experienced a significant increase in delinquent customer notes receivable and have not made any significant adjustments to our allowance for credit losses related to loans as a result of the COVID-19 pandemic. See Note 6, Customer Notes Receivable. Deferred Revenue Deferred revenue consists of amounts for which the criteria for revenue recognition have not yet been met and includes (a) payments for unfulfilled performance obligations which will be recognized on a straight-line basis over the remaining term of the respective solar service agreements, net of any cash incentives earned by the customers, (b) down payments and partial or full prepayments from customers and (c) differences due to the timing of energy production versus billing for certain types of PPAs. Deferred revenue was $106.8 million as of December 31, 2020. The following table presents the detail of deferred revenue as recorded in other current liabilities and other long-term liabilities in the unaudited condensed consolidated balance sheets: As of As of (in thousands) Loans $ 338,036 $ 275,681 PPAs and leases 20,221 17,274 Solar receivables 4,799 4,864 Total (1) $ 363,056 $ 297,819 (1) Of this amount, $19.2 million and $15.3 million is recorded in other current liabilities as of March 31, 2022 and December 31, 2021, respectively. During the three months ended March 31, 2022 and 2021, we recognized revenue of $2.1 million and $2.5 million, respectively, from amounts recorded in deferred revenue at the beginning of the respective years. New Accounting Guidance New accounting pronouncements are issued by the FASB or other standard setting bodies and are adopted as of the specified effective date. In March 2022, the FASB issued Accounting Standards Update ("ASU") No. 2022-02, Financial Instruments—Credit Losses: Troubled Debt Restructurings and Vintage Disclosures , to eliminate the accounting guidance for troubled debt restructurings while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. This ASU is effective for annual and interim reporting periods beginning in January 2023. We are currently evaluating the impact of this ASU on our consolidated financial statements and related disclosures.

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment The following table presents the detail of property and equipment, net as recorded in the unaudited condensed consolidated balance sheets: Useful Lives As of As of (in years) (in thousands) Solar energy systems 35 $ 3,087,926 $ 2,917,721 Construction in progress 186,361 188,518 Asset retirement obligations 30 47,815 45,264 Information technology systems 3 49,841 49,673 Computers and equipment 3-5 3,805 3,085 Leasehold improvements 3-6 3,495 3,160 Furniture and fixtures 7 1,132 1,132 Vehicles 4-5 1,638 1,638 Other 5-6 157 157 Property and equipment, gross 3,382,170 3,210,348 Less: accumulated depreciation (325,272) (300,735) Property and equipment, net $ 3,056,898 $ 2,909,613 Solar Energy Systems. The amounts included in the above table for solar energy systems and substantially all the construction in progress relate to our customer contracts (including PPAs and leases). These assets had accumulated depreciation of $286.3 million and $264.6 million as of March 31, 2022 and December 31, 2021, respectively.

Detail of Certain Balance Sheet

Detail of Certain Balance Sheet Captions	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Detail of Certain Balance Sheet Captions	Detail of Certain Balance Sheet Captions The following table presents the detail of other current assets as recorded in the unaudited condensed consolidated balance sheets: As of As of (in thousands) Inventory $ 150,517 $ 127,955 Restricted cash 34,958 80,213 Current portion of customer notes receivable 67,608 56,074 Other prepaid assets 16,438 14,920 Current portion of investments in solar receivables 6,750 6,787 Prepaid inventory 2,155 4,835 Deferred receivables 4,021 4,818 Other 692 719 Total $ 283,139 $ 296,321 The following table presents the detail of other assets as recorded in the unaudited condensed consolidated balance sheets: As of As of (in thousands) Construction in progress - customer notes receivable $ 271,400 $ 238,791 Exclusivity and other bonus arrangements with dealers, net 92,854 81,756 Investments in solar receivables 70,828 75,871 Restricted cash 81,478 68,583 Straight-line revenue adjustment, net 45,835 43,367 Other 100,061 62,768 Total $ 662,456 $ 571,136 The following table presents the detail of other current liabilities as recorded in the unaudited condensed consolidated balance sheets: As of As of (in thousands) Interest payable $ 13,658 $ 22,740 Deferred revenue 19,209 15,273 Current portion of performance guarantee obligations 1,993 3,175 Current portion of operating and finance lease liability 2,215 1,850 Other 240 1,312 Total $ 37,315 $ 44,350

Asset Retirement Obligations ("

Asset Retirement Obligations ("ARO")	3 Months Ended
	Mar. 31, 2022
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations ("ARO")	Asset Retirement Obligations ("ARO") AROs consist primarily of costs to remove solar energy system assets and costs to restore the solar energy system sites to the original condition, which we estimate based on current market rates. For each solar energy system, we recognize the fair value of the ARO as a liability and capitalize that cost as part of the cost basis of the related solar energy system. The related assets are depreciated on a straight-line basis over 30 years, which is the estimated average time a solar energy system will be installed in a location before being removed, and the related liabilities are accreted to the full value over the same period of time. We revise our estimated future liabilities based on recent actual experiences, including third party cost estimates, average size of solar energy systems and inflation rates, which we evaluate at least annually. Changes in our estimated future liabilities are recorded as either a reduction or addition in the carrying amount of the remaining unamortized asset and the ARO and either decrease or increase our depreciation and accretion expense amounts prospectively. The following table presents the changes in AROs as recorded in other long-term liabilities in the unaudited condensed consolidated balance sheets: As of March 31, 2022 2021 (in thousands) Balance at beginning of period $ 54,396 $ 41,788 Additional obligations incurred 2,573 2,290 Accretion expense 840 652 Other (30) (16) Balance at end of period $ 57,779 $ 44,714

Customer Notes Receivable

Customer Notes Receivable	3 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
Customer Notes Receivable	Customer Notes Receivable We offer a loan program, under which the customer finances the purchase of a solar energy system or energy storage system through a solar service agreement for a term of 10, 15 or 25 years. The following table presents the detail of customer notes receivable as recorded in the unaudited condensed consolidated balance sheets and the corresponding fair values: As of As of (in thousands) Customer notes receivable $ 1,565,417 $ 1,301,285 Allowance for credit losses (47,818) (41,138) Customer notes receivable, net (1) $ 1,517,599 $ 1,260,147 Estimated fair value, net $ 1,518,491 $ 1,274,099 (1) Of this amount, $67.6 million and $56.1 million is recorded in other current assets as of March 31, 2022 and December 31, 2021, respectively. The following table presents the changes in the allowance for credit losses related to customer notes receivable as recorded in the unaudited condensed consolidated balance sheets: As of March 31, 2022 2021 (in thousands) Balance at beginning of period $ 41,138 $ 17,668 Provision for current expected credit losses (1) 6,644 3,251 Recoveries 36 — Balance at end of period $ 47,818 $ 20,919 (1) In addition, we recognized $13,000 and $62,000 during the three months ended March 31, 2022 and 2021, respectively, of provision for current expected credit losses related to our long-term receivables for our customer leases. As of March 31, 2022 and December 31, 2021, we invested $271.4 million and $238.8 million, respectively, in loan solar energy systems and energy storage systems not yet placed in service. For the three months ended March 31, 2022 and 2021, interest income related to our customer notes receivable was $10.8 million and $7.1 million, respectively. As of March 31, 2022 and December 31, 2021, accrued interest receivable related to our customer notes receivable was $3.0 million and $3.5 million, respectively. As of March 31, 2022 and December 31, 2021, there was $6.9 million and $0, respectively, of customer notes receivable not accruing interest and there was $156,000 and $0, respectively, of allowance recorded for loans on nonaccrual status. For the three months ended March 31, 2022 and 2021, interest income of $0 was recognized for loans on nonaccrual status and accrued interest receivable of $493,000 and $0, respectively, was written off by reversing interest income. We consider the performance of our customer notes receivable portfolio and its impact on our allowance for credit losses. We also evaluate the credit quality based on the aging status and payment activity. The following table presents the aging of the amortized cost of customer notes receivable: As of As of (in thousands) 1-90 days past due $ 26,998 $ 23,118 91-180 days past due 6,374 5,068 Greater than 180 days past due 13,232 10,277 Total past due 46,604 38,463 Not past due 1,518,813 1,262,822 Total $ 1,565,417 $ 1,301,285 As of March 31, 2022 and December 31, 2021, the amortized cost of our customer notes receivable more than 90 days past due but not on nonaccrual status was $19.6 million and $15.3 million, respectively. The following table presents the amortized cost by origination year of our customer notes receivable based on payment activity. Amortized Cost by Origination Year 2022 2021 2020 2019 2018 Prior Total (in thousands) Payment performance: Performing $ 285,471 $ 776,506 $ 237,342 $ 120,747 $ 78,317 $ 53,802 $ 1,552,185 Nonperforming (1) — 2,435 1,506 2,575 2,761 3,955 13,232 Total $ 285,471 $ 778,941 $ 238,848 $ 123,322 $ 81,078 $ 57,757 $ 1,565,417 (1) A nonperforming loan is a loan in which the customer is in default and has not made any scheduled principal or interest payments for 181 days or more.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Our subsidiaries with long-term debt include Sunnova Energy Corporation, Sunnova EZ-Own Portfolio, LLC ("EZOP"), Sunnova Helios II Issuer, LLC ("HELII"), Sunnova RAYS I Issuer, LLC ("RAYSI"), Sunnova Helios III Issuer, LLC ("HELIII"), Sunnova TEP Holdings, LLC ("TEPH"), Sunnova Sol Issuer, LLC ("SOLI"), Sunnova Helios IV Issuer, LLC ("HELIV"), Sunnova Asset Portfolio 8, LLC ("AP8"), Sunnova Sol II Issuer, LLC ("SOLII"), Sunnova Helios V Issuer, LLC ("HELV"), Sunnova Sol III Issuer, LLC ("SOLIII"), Sunnova Helios VI Issuer, LLC ("HELVI"), Sunnova Helios VII Issuer, LLC ("HELVII") and Sunnova Helios VIII Issuer, LLC ("HELVIII"). The following table presents the detail of long-term debt, net as recorded in the unaudited condensed consolidated balance sheets: Three Months Ended As of March 31, 2022 Year Ended As of December 31, 2021 Long-term Current Long-term Current (in thousands, except interest rates) SEI 0.25% convertible senior notes 0.71 % $ 575,000 $ — 0.70 % $ 575,000 $ — Debt discount, net (12,170) — (12,810) — Deferred financing costs, net (519) — (547) — Sunnova Energy Corporation 5.875% senior notes 6.59 % 400,000 — 6.42 % 400,000 — Debt discount, net (4,381) — (4,629) — Deferred financing costs, net (8,853) — (9,341) — EZOP Revolving credit facility 3.21 % 190,000 — 4.12 % 190,000 — Debt discount, net (776) — (898) — HELII Solar asset-backed notes 5.83 % 209,913 8,270 5.71 % 217,465 8,952 Debt discount, net (34) — (36) — Deferred financing costs, net (4,133) — (4,346) — RAYSI Solar asset-backed notes 5.62 % 115,009 4,064 5.55 % 115,792 4,573 Debt discount, net (1,114) — (1,166) — Deferred financing costs, net (3,782) — (3,893) — HELIII Solar loan-backed notes 4.46 % 102,169 10,794 4.79 % 105,331 10,916 Debt discount, net (1,761) — (1,838) — Deferred financing costs, net (1,691) — (1,765) — TEPH Revolving credit facility 7.19 % 218,950 — 6.86 % 118,950 — Debt discount, net (3,198) — (3,678) — SOLI Solar asset-backed notes 3.98 % 362,068 15,537 3.91 % 366,304 15,563 Debt discount, net (97) — (100) — Deferred financing costs, net (7,620) — (7,881) — HELIV Solar loan-backed notes 4.21 % 113,854 11,396 4.16 % 116,579 11,937 Debt discount, net (683) — (724) — Deferred financing costs, net (3,113) — (3,283) — AP8 Revolving credit facility — % — — 7.17 % — — SOLII Solar asset-backed notes 3.45 % 239,426 6,222 3.42 % 241,293 6,176 Debt discount, net (70) — (72) — Deferred financing costs, net (5,040) — (5,192) — HELV Solar loan-backed notes 2.49 % 147,834 20,013 2.44 % 150,743 21,354 Debt discount, net (803) — (840) — Deferred financing costs, net (3,088) — (3,230) — SOLIII Solar asset-backed notes 2.81 % 289,282 16,600 2.73 % 294,069 16,590 Debt discount, net (128) — (132) — Deferred financing costs, net (6,144) — (6,319) — HELVI Solar loan-backed notes 2.09 % 177,735 21,263 2.02 % 181,625 21,152 Debt discount, net (46) — (48) — Deferred financing costs, net (3,339) — (3,477) — HELVII Solar loan-backed notes 2.52 % 135,091 16,386 2.44 % 141,407 12,580 Debt discount, net (43) — (45) — Deferred financing costs, net (2,493) — (2,587) — HELVIII Solar loan-backed notes 3.41 % 271,169 24,568 — — Debt discount, net (5,925) — — — Deferred financing costs, net (4,842) — — — Total $ 3,461,614 $ 155,113 $ 3,135,681 $ 129,793 Availability. As of March 31, 2022, we had $311.8 million of available borrowing capacity under our various financing arrangements, consisting of $10.0 million under the EZOP revolving credit facility, $241.8 million under the TEPH revolving credit facility and $60.0 million under the AP8 revolving credit facility. There was no available borrowing capacity under any of our other financing arrangements. As of March 31, 2022, we were in compliance with all debt covenants under our financing arrangements. Weighted Average Effective Interest Rates. The weighted average effective interest rates disclosed in the table above are the weighted average stated interest rates for each debt instrument plus the effect on interest expense for other items classified as interest expense, such as the amortization of deferred financing costs, amortization of debt discounts and commitment fees on unused balances for the period of time the debt was outstanding during the indicated periods. HELVIII Debt. In February 2022, we pooled and transferred eligible solar loans and the related receivables into Sunnova Helios VIII Issuer, LLC ("HELVIII"), a special purpose entity, that issued $131.9 million in aggregate principal amount of Series 2022-A Class A solar loan-backed notes, $102.2 million in aggregate principal amount of Series 2022-A Class B solar loan-backed notes and $63.8 million in aggregate principal amount of Series 2022-A Class C solar loan-backed notes (collectively, the "HELVIII Notes") with a maturity date of February 2049. The HELVIII Notes were issued at a discount of 1.55% for Class A, 2.23% for Class B and 2.62% for Class C and bear interest at an annual rate of 2.79%, 3.13% and 3.53%, respectively. The cash flows generated by these solar loans are used to service the monthly principal and interest payments on the HELVIII Notes and satisfy HELVIII's expenses, and any remaining cash can be distributed to Sunnova Helios VIII Depositor, LLC, HELVIII's sole member. In connection with the HELVIII Notes, certain of our affiliates receive a fee for managing and servicing the solar energy systems pursuant to management and service agreements. In addition, Sunnova Energy Corporation has guaranteed, among other things, (a) the obligations of certain of our subsidiaries to manage and service the solar energy systems pursuant to management and servicing agreements and (b) certain of our subsidiaries' obligations to repurchase or substitute certain ineligible solar loans eventually sold to HELVIII pursuant to the related sale and contribution agreement. HELVIII is also required to maintain certain reserve accounts for the benefit of the holders of the HELVIII Notes, each of which must be funded at all times to the levels specified in the HELVIII Notes. The holders of the HELVIII Notes have no recourse to our other assets except as expressly set forth in the HELVIII Notes. Fair Values of Long-Term Debt . The fair values of our long-term debt and the corresponding carrying amounts are as follows: As of March 31, 2022 As of December 31, 2021 Carrying Estimated Carrying Estimated (in thousands) SEI 0.25% convertible senior notes $ 575,000 $ 538,258 $ 575,000 $ 568,732 Sunnova Energy Corporation 5.875% senior notes 400,000 373,397 400,000 391,917 EZOP revolving credit facility 190,000 190,000 190,000 190,000 HELII solar asset-backed notes 218,183 228,540 226,417 253,079 RAYSI solar asset-backed notes 119,073 118,309 120,365 129,575 HELIII solar loan-backed notes 112,963 109,300 116,247 120,465 TEPH revolving credit facility 218,950 218,950 118,950 118,950 SOLI solar asset-backed notes 377,605 351,646 381,867 382,511 HELIV solar loan-backed notes 125,250 113,616 128,516 123,189 SOLII solar asset-backed notes 245,648 212,854 247,469 231,894 HELV solar loan-backed notes 167,847 152,634 172,097 165,848 SOLIII solar asset-backed notes 305,882 273,756 310,659 302,994 HELVI solar loan-backed notes 198,998 180,887 202,777 199,159 HELVII solar loan-backed notes 151,477 141,436 153,987 153,518 HELVIII solar loan-backed notes 295,737 286,555 — — Total (1) $ 3,702,613 $ 3,490,138 $ 3,344,351 $ 3,331,831 (1) Amounts exclude the net deferred financing costs (classified as debt) and net debt discounts of $85.9 million and $78.9 million as of March 31, 2022 and December 31, 2021, respectively. For the EZOP, TEPH and AP8 debt, the estimated fair values approximate the carrying amounts primarily due to the variable nature of the interest rates of the underlying instruments. For the convertible senior notes, senior notes and the HELII, RAYSI, HELIII, SOLI, HELIV, SOLII, HELV, SOLIII, HELVI, HELVII and HELVIII debt, we determined the estimated fair values based on a yield analysis of similar type debt.

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments Interest Rate Swaps and Caps on EZOP Debt. During the three months ended March 31, 2022 and 2021, EZOP entered into interest rate swaps and caps for an aggregate notional amount of $0 and $180.2 million, respectively, to economically hedge its exposure to the variable interest rates on a portion of the outstanding EZOP debt. No collateral was posted for the interest rate swaps and caps as they are secured under the EZOP revolving credit facility. In April 2021, the notional amount of the interest rate swaps and caps began decreasing to match EZOP's estimated monthly principal payments on the debt. During the three months ended March 31, 2022 and 2021, EZOP unwound interest rate swaps and caps with an aggregate notional amount of $0 and $131.7 million, respectively, and recorded a realized loss of $0 and $68,000, respectively. Interest Rate Swaps on TEPH Debt. During the three months ended March 31, 2022 and 2021, TEPH entered into interest rate swaps for an aggregate notional amount of $0 and $80.1 million, respectively, to economically hedge its exposure to the variable interest rates on a portion of the outstanding TEPH debt. No collateral was posted for the interest rate swaps as they are secured under the TEPH revolving credit facility. During the three months ended March 31, 2022 and 2021, TEPH unwound interest rate swaps with an aggregate notional amount of $0 and recorded a realized loss of $591,000 and $523,000, respectively. The following table presents a summary of the outstanding derivative instruments: As of March 31, 2022 As of December 31, 2021 Effective Termination Fixed Aggregate Effective Termination Fixed Aggregate (in thousands, except interest rates) EZOP March 2021 - July 2033 - 1.000% $ 346,880 March 2021 - July 2033 - 1.000% $ 261,836 TEPH February 2019 - January 2023 - 0.121% - 2.534% 299,857 February 2019 - January 2023 - 0.121% - 2.534% 270,170 Total $ 646,737 $ 532,006 The following table presents the fair value of the interest rate swaps and caps as recorded in the unaudited condensed consolidated balance sheets: As of As of (in thousands) Other assets $ 44,370 $ 14,351 Other long-term liabilities — (5,330) Total, net $ 44,370 $ 9,021 We did not designate the interest rate swaps and caps as hedging instruments for accounting purposes. As a result, we recognize changes in fair value immediately in interest expense, net. The following table presents the impact of the interest rate swaps and caps as recorded in the unaudited condensed consolidated statements of operations: Three Months Ended 2022 2021 (in thousands) Realized loss $ 591 $ 591 Unrealized gain (35,349) (18,705) Total $ (34,758) $ (18,114)

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesOur effective income tax rate is 0% for the three months ended March 31, 2022 and 2021. Total income tax differs from the amounts computed by applying the statutory income tax rate to loss before income tax primarily as a result of our valuation allowance. We assessed whether we had any significant uncertain tax positions taken in a filed tax return, planned to be taken in a future tax return or claim, or otherwise subject to interpretation and determined there were none not more likely than not to be sustained upon examination, including resolution of any related appeals or litigation processes, based on the technical merits of the position, or prospectively approved when such approval may be sought in advance. Accordingly, we recorded no reserve for uncertain tax positions. Should a provision for any interest or penalties relative to unrecognized tax benefits be necessary, it is our policy to accrue for such in our income tax accounts. There were no such accruals as of March 31, 2022 and December 31, 2021 and we do not expect a significant change in gross unrecognized tax benefits in the next twelve months. Our tax years after 2011 remain subject to examination by the Internal Revenue Service and by the taxing authorities in the states and territories in which we operate.

Redeemable Noncontrolling Inter

Redeemable Noncontrolling Interests and Noncontrolling Interests	3 Months Ended
	Mar. 31, 2022
Noncontrolling Interest [Abstract]
Redeemable Noncontrolling Interests and Noncontrolling Interests	Redeemable Noncontrolling Interests and Noncontrolling Interests Redeemable Noncontrolling Interests The carrying values of the redeemable noncontrolling interests were equal to or greater than the redemption values as of March 31, 2022 and December 31, 2021. Noncontrolling Interests In February 2022, we admitted a tax equity investor as the Class A member of Sunnova TEP 6-B, LLC ("TEP6B"), a subsidiary of Sunnova TEP 6-B Manager, LLC, which is the Class B member of TEP6B. The Class A member of TEP6B made a total capital commitment of approximately $150.0 million.

Equity-Based Compensation

Equity-Based Compensation	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Equity-Based Compensation	Equity-Based Compensation In February 2022, the aggregate number of shares of common stock that may be issued pursuant to awards under the 2019 Long-Term Incentive Plan (the "LTIP") was increased by 1,265,071, an amount which, together with the shares remaining available for grant under the LTIP, is equal to 5,667,761, or 5% of the number of shares of common stock outstanding as of December 31, 2021. Stock Options The following table summarizes stock option activity: Number Weighted Weighted Weighted Aggregate (in thousands) Outstanding, December 31, 2021 2,765,815 $ 16.71 4.91 $ 31,874 Granted 538,758 $ 27.62 9.98 $ 14.37 Exercised (200) $ 1.85 $ 4 Forfeited (1,941) $ 40.50 $ 18.35 Outstanding, March 31, 2022 3,302,432 $ 18.48 5.52 $ 20,317 Exercisable, March 31, 2022 2,713,224 $ 16.25 4.58 $ 20,317 Vested and expected to vest, March 31, 2022 3,302,432 $ 18.48 5.52 $ 20,317 Non-vested, March 31, 2022 589,208 $ 14.71 The number of stock options that vested during the three months ended March 31, 2022 and 2021 was 16,816 and 0, respectively. The grant date fair value of stock options that vested during the three months ended March 31, 2022 and 2021 was $309,000 and $0, respectively. As of March 31, 2022, there was $8.5 million of total unrecognized compensation expense related to stock options, which is expected to be recognized over the remaining weighted average period of 2.63 years. Restricted Stock Units The following table summarizes restricted stock unit activity: Number of Weighted Outstanding, December 31, 2021 1,649,789 $ 18.48 Granted 890,677 $ 24.55 Vested (644,466) $ 20.46 Forfeited (2,013) $ 32.73 Outstanding, March 31, 2022 1,893,987 $ 20.65

Basic and Diluted Net Loss Per

Basic and Diluted Net Loss Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Basic and Diluted Net Loss Per Share	Basic and Diluted Net Loss Per Share The following table sets forth the computation of our basic and diluted net loss per share: Three Months Ended 2022 2021 (in thousands, except share and per share amounts) Net loss attributable to common stockholders—basic and diluted $ (33,583) $ (32,983) Net loss per share attributable to common stockholders—basic and diluted $ (0.30) $ (0.31) Weighted average common shares outstanding—basic and diluted 113,499,426 106,359,220 The following table presents the weighted average shares of common stock equivalents that were excluded from the computation of diluted net loss per share for the periods presented because including them would have been anti-dilutive: Three Months Ended 2022 2021 Equity-based compensation awards 4,486,559 4,902,790 Convertible senior notes 16,628,073 1,682,132

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal. We are a party to a number of lawsuits, claims and governmental proceedings which are ordinary, routine matters incidental to our business. In addition, in the ordinary course of business, we periodically have disputes with dealers and customers. We do not expect the outcomes of these matters to have, either individually or in the aggregate, a material adverse effect on our financial position or results of operations. Performance Guarantee Obligations. As of March 31, 2022, we recorded $2.5 million relating to our guarantee of certain specified minimum solar energy production output under our leases and loans, of which $2.0 million is recorded in other current liabilities and $481,000 is recorded in other long-term liabilities in the unaudited condensed consolidated balance sheet. As of December 31, 2021, we recorded $5.3 million relating to these guarantees, of which $3.2 million is recorded in other current liabilities and $2.1 million is recorded in other long-term liabilities in the unaudited condensed consolidated balance sheet. The changes in our aggregate performance guarantee obligations are as follows: As of March 31, 2022 2021 (in thousands) Balance at beginning of period $ 5,293 $ 5,718 Accruals 329 433 Settlements (3,148) (3,246) Balance at end of period $ 2,474 $ 2,905 Operating and Finance Leases . We lease real estate and certain office equipment under operating leases and vehicles and certain other office equipment under finance leases. The following table presents the detail of lease expense as recorded in general and administrative expense in the unaudited condensed consolidated statements of operations: Three Months Ended 2022 2021 (in thousands) Operating lease expense $ 692 $ 336 Finance lease expense: Amortization expense 175 25 Interest on lease liabilities 14 3 Short-term lease expense 27 10 Variable lease expense 255 261 Total $ 1,163 $ 635 The following table presents the detail of right-of-use assets and lease liabilities as recorded in other assets other current liabilities other long-term liabilities As of As of (in thousands) Right-of-use assets: Operating leases $ 15,979 $ 16,483 Finance leases 2,299 2,187 Total right-of-use assets $ 18,278 $ 18,670 Current lease liabilities: Operating leases $ 1,525 $ 1,190 Finance leases 690 660 Long-term leases liabilities: Operating leases 17,155 17,684 Finance leases 1,029 1,024 Total lease liabilities $ 20,399 $ 20,558 Other information related to leases was as follows: Three Months Ended 2022 2021 (in thousands) Cash paid (received) for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases (1) $ 382 $ (42) Operating cash flows from finance leases 14 3 Financing cash flows from finance leases 199 28 Right-of-use assets obtained in exchange for lease obligations: Operating leases — — Finance leases 287 — (1) Includes reimbursements in 2022 and 2021 of approximately $45,000 and $423,000, respectively, for leasehold improvements. As of As of Weighted average remaining lease term (years): Operating leases 7.30 7.54 Finance leases 3.20 3.35 Weighted average discount rate: Operating leases 3.92 % 3.92 % Finance leases 3.17 % 3.11 % Future minimum lease payments under our non-cancelable leases as of March 31, 2022 were as follows: Operating Finance (in thousands) Remaining 2022 $ 1,514 $ 570 2023 3,086 609 2024 3,065 439 2025 3,113 175 2026 3,180 5 2027 and thereafter 8,638 — Total 22,596 1,798 Amount representing interest (3,114) (79) Amount representing leasehold incentives (802) — Present value of future payments 18,680 1,719 Current portion of lease liability (1,525) (690) Long-term portion of lease liability $ 17,155 $ 1,029 Guarantees or Indemnifications . We enter into contracts that include indemnifications and guarantee provisions. In general, we enter into contracts with indemnities for matters such as breaches of representations and warranties and covenants contained in the contract and/or against certain specified liabilities. Examples of these contracts include dealer agreements, debt agreements, asset purchases and sales agreements, service agreements and procurement agreements. We are unable to estimate our maximum potential exposure under these agreements until an event triggering payment occurs. We do not expect to make any material payments under these agreements. Dealer Commitments. As of March 31, 2022 and December 31, 2021, the net unamortized balance of payments to dealers for exclusivity and other similar arrangements was $92.9 million and $81.8 million, respectively. Under these agreements, we paid $13.2 million and $3.7 million during the three months ended March 31, 2022 and 2021, respectively. We could be obligated to make maximum payments, excluding additional amounts payable on a per watt basis if even higher thresholds are met, as follows: Dealer (in thousands) Remaining 2022 $ 40,156 2023 40,621 2024 33,303 2025 25,492 2026 6,904 2027 and thereafter — Total $ 146,476 Purchase Commitments. In December 2021, we amended an agreement with a supplier in which we agreed to purchase at least 1,420 megawatt hours of solar energy systems, energy storage systems and accessories through December 2023. The amendment does not contain specific dollar amounts or thresholds; however, as of March 31, 2022, we estimate these remaining purchase commitments will range from $580.0 million to $640.0 million. Information Technology Commitments. We have certain long-term contractual commitments related to information technology software services and licenses. Future commitments as of March 31, 2022 were as follows: Information (in thousands) Remaining 2022 $ 21,213 2023 18,264 2024 4,728 2025 17 2026 — 2027 and thereafter — Total $ 44,222

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Common Stock. In April 2022, we issued 694,446 shares of common stock to Len x , LLC pursuant to the terms of the earnout agreement entered into in connection with the SunStreet acquisition.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying interim unaudited condensed consolidated financial statements ("interim financial statements") include our consolidated balance sheets, statements of operations, statements of redeemable noncontrolling interests and equity and statements of cash flows and have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") from records maintained by us. We have condensed or omitted certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP pursuant to the applicable rules and regulations of the Securities and Exchange Commission ("SEC") regarding interim financial reporting. As such, these interim financial statements should be read in conjunction with our 2021 annual audited consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K filed with the SEC on February 24, 2022. Our interim financial statements reflect all normal recurring adjustments necessary, in our opinion, to state fairly our financial position and results of operations for the reported periods. Amounts reported for interim periods may not be indicative of a full year period because of our continual growth, seasonal fluctuations in demand for power, timing of maintenance and other expenditures, changes in interest expense and other factors. Our interim financial statements include our accounts and those of our subsidiaries in which we have a controlling financial interest. In accordance with the provisions of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 810, Consolidation , we consolidate any VIE of which we are the primary beneficiary. We form VIEs with our investors in the ordinary course of business to facilitate the funding and monetization of certain attributes associated with our solar energy systems. The typical condition for a controlling financial interest is holding a majority of the voting interests of an entity. However, a controlling financial interest may also exist in entities, such as VIEs, through arrangements that do not involve holding a majority of the voting interests. A primary beneficiary is defined as the party that has (a) the power to direct the activities of a VIE that most significantly impact the VIE's economic performance and (b) the obligation to absorb losses or receive benefits from the VIE that could potentially be significant to the VIE. We do not consolidate a VIE in which we have a majority ownership interest when we are not considered the primary beneficiary. We
Use of Estimates	Use of Estimates The application of GAAP in the preparation of the interim financial statements requires us to make estimates and assumptions that affect the amounts reported in the interim financial statements and accompanying notes. We base our 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.
Accounts Receivable	Accounts ReceivableAccounts Receivable—Trade. Accounts receivable—trade primarily represents trade receivables from residential customers that are generally collected in the subsequent month. Accounts receivable—trade is recorded net of an allowance for credit losses, which is based on our assessment of the collectability of customer accounts based on the best available data at the time. We review the allowance by considering factors such as historical experience, customer credit rating, contractual term, aging category and current economic conditions that may affect a customer's ability to pay to identify customers with potential disputes or collection issues. We write off accounts receivable when we deem them uncollectible. Accounts Receivable—Other. Accounts receivable—other primarily represents receivables from our dealers related to the use of inventory procured by us.
Inventory	InventoryInventory is stated at the lower of cost and net realizable value using the first-in, first-out method. Inventory primarily represents (a) raw materials, such as energy storage systems, photovoltaic modules, inverters, meters and modems, (b) homebuilder construction in progress and (c) other associated equipment purchased. These materials are typically procured by us and used by our dealers or held for use as original parts on new solar energy systems or replacement parts on existing solar energy systems. We remove these items from inventory and record the transaction in typically one of these manners: (a) expense to operations and maintenance expense when installed as a replacement part for a solar energy system, (b) recognize in accounts receivable—other when procured by us and used by our dealers, (c) expense to cost of revenue if sold directly to a customer, (d) capitalize to property and equipment when installed on an existing home or (e) capitalize to property and equipment when placed in service under the homebuilder program. We periodically evaluate our inventory for unusable and obsolete items based on assumptions about future demand and market conditions. Based on this evaluation, provisions are made to write inventory down to market value.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is an exit price representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions market participants would use in pricing an asset or a liability. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. ASC 820 establishes a three-tier fair value hierarchy, which prioritizes inputs that may be used to measure fair value as follows: • Level 1—Observable inputs that reflect unadjusted quoted market prices in active markets for identical assets or liabilities that are accessible at the measurement date. • Level 2—Observable inputs other than Level 1 prices, such as quoted market prices for similar assets or liabilities in active markets, quoted market prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. • Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
Revenue / Loans / Deferred Revenue	RevenueWe recognize revenue from contracts with customers as we satisfy our performance obligations at a transaction price reflecting an amount of consideration based upon an estimated rate of return, net of cash incentives. We express this rate of return as the solar rate per kilowatt hour ("kWh") in the customer contract. The amount of revenue we recognize does not equal customer cash payments because we satisfy performance obligations ahead of cash receipt or evenly as we provide continuous access on a stand-ready basis to the solar energy system. We reflect the differences between revenue recognition and cash payments received in accounts receivable, other assets or deferred revenue, as appropriate. Revenue allocated to remaining performance obligations represents contracted revenue we have not yet recognized and includes deferred revenue as well as amounts that will be invoiced and recognized as revenue in future periods. Contracted but not yet recognized revenue was approximately $2.3 billion as of March 31, 2022, of which we expect to recognize approximately 4% over the next 12 months. We do not expect the annual recognition to vary significantly over approximately the next 20 years as the vast majority of existing solar service agreements have at least 20 years remaining, given the average age of the fleet of solar energy systems under contract is less than four years. Certain customers may receive cash incentives. We defer recognition of the payment of these cash incentives and recognize them over the life of the contract as a reduction to revenue. The deferred payment is recorded in other assets for customers who receive the cash incentives under our lease and PPA agreements, and as a contra-liability in other long-term liabilities for customers who receive the cash incentives under our loan agreements. PPAs. Customers purchase electricity from us under PPAs. Pursuant to ASC 606, we recognize revenue based upon the amount of electricity delivered as determined by remote monitoring equipment at solar rates specified under the PPAs. All customers must pass our credit evaluation process. The PPAs generally have a term of 20 or 25 years with an opportunity for customers to renew for up to an additional 10 years, via two five-year or one 10-year renewal options. Leases . We are the lessor under lease agreements for solar energy systems and energy storage systems, which do not meet the definition of a lease under ASC 842 and are accounted for as contracts with customers under ASC 606. We recognize revenue on a straight-line basis over the contract term as we satisfy our obligation to provide continuous access to the solar energy system. All customers must pass our credit evaluation process. The lease agreements generally have a term of 20 or 25 years with an opportunity for customers to renew for up to an additional 10 years, via two five-year or one 10-year renewal options. In most cases, we provide customers under our lease agreements a performance guarantee that each solar energy system will achieve a certain specified minimum solar energy production output, which is a significant proportion of its expected output. The specified minimum solar energy production output may not be achieved due to natural fluctuations in the weather or equipment failures from exposure and wear and tear outside of our control, among other factors. We determine the amount of the guaranteed output based on a number of different factors, including: (a) the specific site information relating to the tilt of the panels, azimuth (a horizontal angle measured clockwise in degrees from a reference direction) of the panels, size of the system, and shading on site; (b) the calculated amount of available irradiance (amount of energy for a given flat surface facing a specific direction) based on historical average weather data and (c) the calculated amount of energy output of the solar energy system. While actual irradiance levels can significantly change year over year due to natural fluctuations in the weather, we expect the levels to average out over the term of a lease and to approximate the levels used in determining the amount of the performance guarantee. Generally, weather fluctuations are the most likely reason a solar energy system may not achieve a certain specified minimum solar energy production output. If the solar energy system does not produce the guaranteed production amount, we are required to refund a portion of the previously remitted customer payments, where the repayment is calculated as the product of (a) the shortfall production amount and (b) the dollar amount (guaranteed rate) per kWh that is fixed throughout the term of the contract. These remittances of a customer's payments, if needed, are payable as early as the first anniversary of the solar energy system's placed in service date and then every annual period thereafter. See Note 13, Commitments and Contingencies. Solar Renewable Energy Certificates. Each solar renewable energy certificate ("SREC") represents the environmental benefit of one megawatt hour (1,000 kWh) generated by a solar energy system. SRECs can be sold separate from the actual electricity generated by the renewable-based generation source. We account for the SRECs we generate from our solar energy systems as governmental incentives with no costs incurred to obtain them and do not consider those SRECs output of the underlying solar energy systems. We classify these SRECs as inventory held until sold and delivered to third parties. As we did not incur costs to obtain these governmental incentives, the inventory carrying value for the SRECs was $0 as of March 31, 2022 and December 31, 2021. We enter into economic hedges related to expected production of SRECs through forward contracts. While these fixed price forward contracts serve as an economic hedge against spot price fluctuations for the SRECs, the contracts do not qualify for hedge accounting and are not designated as cash flow hedges or fair value hedges. The contracts require us to physically deliver the SRECs upon settlement. We recognize the related revenue under ASC 606 upon satisfaction of the performance obligation to transfer the SRECs to the stated counterparty. Payments are typically received within one month of transferring the SREC to the counterparty. The costs related to the sales of SRECs are generally limited to broker fees (recorded in cost of revenue—other), which are only paid in connection with certain transactions. In certain circumstances we are required to purchase SRECs on the open market to fulfill minimum delivery requirements under our forward contracts. Cash Sales. Cash sales revenue represents revenue from a customer's purchase of a solar energy system from us typically when purchasing a new home. We recognize the related revenue under ASC 606 upon verification of the home closing. Loans. See discussion of loan revenue in the " Loans " section below. Other Revenue. Other revenue includes certain state and utility incentives, revenue from the direct sale of solar energy systems and energy storage systems to customers with financing provided by us, sales of service plans and revenue from our investments in solar receivables. We recognize revenue from state and utility incentives in the periods in which they are earned. We recognize revenue from the direct sale of energy storage systems in the period in which the storage components are placed in service. Service plans are available to customers whose solar energy system was not originally sold by Sunnova. We recognize revenue from service plan contracts over the life of the contract, which is typically 10 years. We recognize revenue from our investments in solar receivables over the life of the associated customer agreements. Loans We offer a loan program, under which the customer finances the purchase of a solar energy system or energy storage system through a solar service agreement, typically for a term of 10, 15 or 25 years. We recognize cash payments received from customers on a monthly basis under our loan program (a) as interest income, to the extent attributable to earned interest on the contract that financed the customer's purchase of the solar energy system or energy storage system; (b) as a reduction of a note receivable on the balance sheet, to the extent attributable to a return of principal (whether scheduled or prepaid) on the contract that financed the customer's purchase of the solar energy system or energy storage system; and (c) as revenue, to the extent attributable to payments for operations and maintenance services provided by us. To qualify for the loan program, a customer must pass our credit evaluation process, which requires the customer to have a minimum FICO ® score of 600 to 730 depending on certain circumstances, and we secure the loans with the solar energy systems or energy storage systems financed. The credit evaluation process is performed once for each customer at the time the customer is entering into the solar service agreement with us. Our investments in solar energy systems and energy storage systems related to the loan program that are not yet placed in service are recorded in other assets in the consolidated balance sheets and are transferred to customer notes receivable upon being placed in service. Customer notes receivable are recorded at amortized cost, net of an allowance for credit losses (as described below), in other current assets and customer notes receivable in the consolidated balance sheets. Accrued interest receivable related to our customer notes receivable is recorded in accounts receivable—trade, net in the consolidated balance sheets. Interest income from customer notes receivable is recorded in interest income in the consolidated statements of operations. The amortized cost of our customer notes receivable is equal to the principal balance of customer notes receivable outstanding and does not include accrued interest receivable. Customer notes receivable continue to accrue interest until they are written off against the allowance, which occurs when the balance is 180 days or more past due unless the balance is in the process of collection. Customer notes receivable are considered past due one day after the due date based on the contractual terms of the loan agreement. In all cases, customer notes receivable balances are placed on a nonaccrual status or written off at an earlier date when they are deemed uncollectible. Expected recoveries do not exceed the aggregate of amounts previously written off and expected to be written off. Accrued interest receivable for customer notes receivable placed on a nonaccrual status is recorded as a reduction to interest income. Interest received on such customer notes receivable is accounted for on a cash basis until the customer notes receivable qualifies for the return to accrual status. Customer notes receivable are returned to accrual status when there is no longer any principal or interest amounts past due and future payments are reasonably assured. The allowance for credit losses is deducted from the customer notes receivable amortized cost to present the net amount expected to be collected. It is measured on a collective (pool) basis when similar risk characteristics (such as financial asset type, customer credit rating, contractual term and vintage) exist. In determining the allowance for credit losses, we identify customers with potential disputes or collection issues and consider our historical level of credit losses and current economic trends that might impact the level of future credit losses. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics, such as differences in underwriting standards. Expected credit losses are estimated over the contractual term of the loan agreements based on the best available data at the time and adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals and modifications unless either of the following applies: (a) we have a reasonable expectation at the reporting date that a troubled debt restructuring will be executed with an individual customer or (b) the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancelable by us. As of March 31, 2022, we have not experienced a significant increase in delinquent customer notes receivable and have not made any significant adjustments to our allowance for credit losses related to loans as a result of the COVID-19 pandemic. See Note 6, Customer Notes Receivable.
New Accounting Guidance	New Accounting Guidance New accounting pronouncements are issued by the FASB or other standard setting bodies and are adopted as of the specified effective date. In March 2022, the FASB issued Accounting Standards Update ("ASU") No. 2022-02, Financial Instruments—Credit Losses: Troubled Debt Restructurings and Vintage Disclosures , to eliminate the accounting guidance for troubled debt restructurings while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. This ASU is effective for annual and interim reporting periods beginning in January 2023. We are currently evaluating the impact of this ASU on our consolidated financial statements and related disclosures.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Changes in the allowance for credit losses	The following table presents the changes in the allowance for credit losses recorded against accounts receivable — trade, net in the unaudited condensed consolidated balance sheets: As of March 31, 2022 2021 (in thousands) Balance at beginning of period $ 1,044 $ 912 Provision for current expected credit losses 475 396 Write off of uncollectible accounts (506) (496) Recoveries 52 36 Balance at end of period $ 1,065 $ 848 The following table presents the changes in the allowance for credit losses related to customer notes receivable as recorded in the unaudited condensed consolidated balance sheets: As of March 31, 2022 2021 (in thousands) Balance at beginning of period $ 41,138 $ 17,668 Provision for current expected credit losses (1) 6,644 3,251 Recoveries 36 — Balance at end of period $ 47,818 $ 20,919 (1) In addition, we recognized $13,000 and $62,000 during the three months ended March 31, 2022 and 2021, respectively, of provision for current expected credit losses related to our long-term receivables for our customer leases.
Schedule of inventory	The following table presents the detail of inventory as recorded in other current assets in the unaudited condensed consolidated balance sheets: As of As of (in thousands) Modules and inverters $ 51,984 $ 60,661 Energy storage systems and components 66,297 43,071 Homebuilder construction in progress 31,639 23,642 Meters and modems 597 581 Total $ 150,517 $ 127,955
Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis	The following table presents our financial instruments measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021: As of March 31, 2022 Total Level 1 Level 2 Level 3 (in thousands) Financial assets: Investments in solar receivables $ 77,578 $ — $ — $ 77,578 Derivative assets 44,370 — 44,370 — Total $ 121,948 $ — $ 44,370 $ 77,578 Financial liabilities: Contingent consideration $ 41,915 $ — $ — $ 41,915 Total $ 41,915 $ — $ — $ 41,915 As of December 31, 2021 Total Level 1 Level 2 Level 3 (in thousands) Financial assets: Investments in solar receivables $ 82,658 $ — $ — $ 82,658 Derivative assets 14,351 — 14,351 — Total $ 97,009 $ — $ 14,351 $ 82,658 Financial liabilities: Contingent consideration $ 67,895 $ — $ — $ 67,895 Derivative liabilities 5,330 — 5,330 — Total $ 73,225 $ — $ 5,330 $ 67,895
Schedule of Changes in Fair Value of Financial Assets on a Recurring Basis	The following table summarizes the change in fair value of our financial assets accounted for at fair value on a recurring basis using Level 3 inputs as recorded in other current assets and other assets in the unaudited condensed consolidated balance sheets: Three Months Ended 2022 2021 (in thousands) Balance at beginning of period $ 82,658 $ — Settlements (1,320) — Loss recognized in earnings (3,760) — Balance at end of period $ 77,578 $ —
Schedule of changes in fair value of liabilities accounted for an a recurring basis	The following table summarizes the change in fair value of our financial liabilities accounted for at fair value on a recurring basis using Level 3 inputs as recorded in other long-term liabilities in the unaudited condensed consolidated balance sheets: Three Months Ended 2022 2021 (in thousands) Balance at beginning of period $ 67,895 $ — Settlements/reclassifications (1) (16,013) — Gain recognized in earnings (9,967) — Balance at end of period $ 41,915 $ — (1) Amount was reclassified to accrued expenses as of March 31, 2022 and settled in April 2022. See Note 14, Subsequent Events.
Disaggregation of revenue	The following table presents the detail of revenue as recorded in the unaudited condensed consolidated statements of operations: Three Months Ended 2022 2021 (in thousands) PPA revenue $ 21,185 $ 16,834 Lease revenue 21,780 16,397 Solar renewable energy certificate revenue 6,244 5,957 Cash sales revenue 11,348 — Loan revenue 3,376 1,195 Other revenue 1,789 893 Total $ 65,722 $ 41,276
Deferred revenue schedule	The following table presents the detail of deferred revenue as recorded in other current liabilities and other long-term liabilities in the unaudited condensed consolidated balance sheets: As of As of (in thousands) Loans $ 338,036 $ 275,681 PPAs and leases 20,221 17,274 Solar receivables 4,799 4,864 Total (1) $ 363,056 $ 297,819 (1) Of this amount, $19.2 million and $15.3 million is recorded in other current liabilities as of March 31, 2022 and December 31, 2021, respectively.

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property and equipment	The following table presents the detail of property and equipment, net as recorded in the unaudited condensed consolidated balance sheets: Useful Lives As of As of (in years) (in thousands) Solar energy systems 35 $ 3,087,926 $ 2,917,721 Construction in progress 186,361 188,518 Asset retirement obligations 30 47,815 45,264 Information technology systems 3 49,841 49,673 Computers and equipment 3-5 3,805 3,085 Leasehold improvements 3-6 3,495 3,160 Furniture and fixtures 7 1,132 1,132 Vehicles 4-5 1,638 1,638 Other 5-6 157 157 Property and equipment, gross 3,382,170 3,210,348 Less: accumulated depreciation (325,272) (300,735) Property and equipment, net $ 3,056,898 $ 2,909,613

Detail of Certain Balance She_2

Detail of Certain Balance Sheet Captions (Tables)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of other current assets	The following table presents the detail of other current assets as recorded in the unaudited condensed consolidated balance sheets: As of As of (in thousands) Inventory $ 150,517 $ 127,955 Restricted cash 34,958 80,213 Current portion of customer notes receivable 67,608 56,074 Other prepaid assets 16,438 14,920 Current portion of investments in solar receivables 6,750 6,787 Prepaid inventory 2,155 4,835 Deferred receivables 4,021 4,818 Other 692 719 Total $ 283,139 $ 296,321
Schedule of other assets	The following table presents the detail of other assets as recorded in the unaudited condensed consolidated balance sheets: As of As of (in thousands) Construction in progress - customer notes receivable $ 271,400 $ 238,791 Exclusivity and other bonus arrangements with dealers, net 92,854 81,756 Investments in solar receivables 70,828 75,871 Restricted cash 81,478 68,583 Straight-line revenue adjustment, net 45,835 43,367 Other 100,061 62,768 Total $ 662,456 $ 571,136
Schedule of other current liabilities	The following table presents the detail of other current liabilities as recorded in the unaudited condensed consolidated balance sheets: As of As of (in thousands) Interest payable $ 13,658 $ 22,740 Deferred revenue 19,209 15,273 Current portion of performance guarantee obligations 1,993 3,175 Current portion of operating and finance lease liability 2,215 1,850 Other 240 1,312 Total $ 37,315 $ 44,350

Asset Retirement Obligations _2

Asset Retirement Obligations ("ARO") (Tables)	3 Months Ended
	Mar. 31, 2022
Asset Retirement Obligation Disclosure [Abstract]
Schedule of changes in AROs	The following table presents the changes in AROs as recorded in other long-term liabilities in the unaudited condensed consolidated balance sheets: As of March 31, 2022 2021 (in thousands) Balance at beginning of period $ 54,396 $ 41,788 Additional obligations incurred 2,573 2,290 Accretion expense 840 652 Other (30) (16) Balance at end of period $ 57,779 $ 44,714

Customer Notes Receivable (Tabl

Customer Notes Receivable (Tables)	3 Months Ended
	Mar. 31, 2022
Receivables [Abstract]
Fair values of notes receivable and corresponding carrying amounts	The following table presents the detail of customer notes receivable as recorded in the unaudited condensed consolidated balance sheets and the corresponding fair values: As of As of (in thousands) Customer notes receivable $ 1,565,417 $ 1,301,285 Allowance for credit losses (47,818) (41,138) Customer notes receivable, net (1) $ 1,517,599 $ 1,260,147 Estimated fair value, net $ 1,518,491 $ 1,274,099 (1) Of this amount, $67.6 million and $56.1 million is recorded in other current assets as of March 31, 2022 and December 31, 2021, respectively.
Changes in the allowance for credit losses	The following table presents the changes in the allowance for credit losses recorded against accounts receivable — trade, net in the unaudited condensed consolidated balance sheets: As of March 31, 2022 2021 (in thousands) Balance at beginning of period $ 1,044 $ 912 Provision for current expected credit losses 475 396 Write off of uncollectible accounts (506) (496) Recoveries 52 36 Balance at end of period $ 1,065 $ 848 The following table presents the changes in the allowance for credit losses related to customer notes receivable as recorded in the unaudited condensed consolidated balance sheets: As of March 31, 2022 2021 (in thousands) Balance at beginning of period $ 41,138 $ 17,668 Provision for current expected credit losses (1) 6,644 3,251 Recoveries 36 — Balance at end of period $ 47,818 $ 20,919 (1) In addition, we recognized $13,000 and $62,000 during the three months ended March 31, 2022 and 2021, respectively, of provision for current expected credit losses related to our long-term receivables for our customer leases.
Financing receivable, past due	The following table presents the aging of the amortized cost of customer notes receivable: As of As of (in thousands) 1-90 days past due $ 26,998 $ 23,118 91-180 days past due 6,374 5,068 Greater than 180 days past due 13,232 10,277 Total past due 46,604 38,463 Not past due 1,518,813 1,262,822 Total $ 1,565,417 $ 1,301,285
Financing receivable amortized cost of customer notes receivable	The following table presents the amortized cost by origination year of our customer notes receivable based on payment activity. Amortized Cost by Origination Year 2022 2021 2020 2019 2018 Prior Total (in thousands) Payment performance: Performing $ 285,471 $ 776,506 $ 237,342 $ 120,747 $ 78,317 $ 53,802 $ 1,552,185 Nonperforming (1) — 2,435 1,506 2,575 2,761 3,955 13,232 Total $ 285,471 $ 778,941 $ 238,848 $ 123,322 $ 81,078 $ 57,757 $ 1,565,417 (1) A nonperforming loan is a loan in which the customer is in default and has not made any scheduled principal or interest payments for 181 days or more.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of long-term debt instruments	The following table presents the detail of long-term debt, net as recorded in the unaudited condensed consolidated balance sheets: Three Months Ended As of March 31, 2022 Year Ended As of December 31, 2021 Long-term Current Long-term Current (in thousands, except interest rates) SEI 0.25% convertible senior notes 0.71 % $ 575,000 $ — 0.70 % $ 575,000 $ — Debt discount, net (12,170) — (12,810) — Deferred financing costs, net (519) — (547) — Sunnova Energy Corporation 5.875% senior notes 6.59 % 400,000 — 6.42 % 400,000 — Debt discount, net (4,381) — (4,629) — Deferred financing costs, net (8,853) — (9,341) — EZOP Revolving credit facility 3.21 % 190,000 — 4.12 % 190,000 — Debt discount, net (776) — (898) — HELII Solar asset-backed notes 5.83 % 209,913 8,270 5.71 % 217,465 8,952 Debt discount, net (34) — (36) — Deferred financing costs, net (4,133) — (4,346) — RAYSI Solar asset-backed notes 5.62 % 115,009 4,064 5.55 % 115,792 4,573 Debt discount, net (1,114) — (1,166) — Deferred financing costs, net (3,782) — (3,893) — HELIII Solar loan-backed notes 4.46 % 102,169 10,794 4.79 % 105,331 10,916 Debt discount, net (1,761) — (1,838) — Deferred financing costs, net (1,691) — (1,765) — TEPH Revolving credit facility 7.19 % 218,950 — 6.86 % 118,950 — Debt discount, net (3,198) — (3,678) — SOLI Solar asset-backed notes 3.98 % 362,068 15,537 3.91 % 366,304 15,563 Debt discount, net (97) — (100) — Deferred financing costs, net (7,620) — (7,881) — HELIV Solar loan-backed notes 4.21 % 113,854 11,396 4.16 % 116,579 11,937 Debt discount, net (683) — (724) — Deferred financing costs, net (3,113) — (3,283) — AP8 Revolving credit facility — % — — 7.17 % — — SOLII Solar asset-backed notes 3.45 % 239,426 6,222 3.42 % 241,293 6,176 Debt discount, net (70) — (72) — Deferred financing costs, net (5,040) — (5,192) — HELV Solar loan-backed notes 2.49 % 147,834 20,013 2.44 % 150,743 21,354 Debt discount, net (803) — (840) — Deferred financing costs, net (3,088) — (3,230) — SOLIII Solar asset-backed notes 2.81 % 289,282 16,600 2.73 % 294,069 16,590 Debt discount, net (128) — (132) — Deferred financing costs, net (6,144) — (6,319) — HELVI Solar loan-backed notes 2.09 % 177,735 21,263 2.02 % 181,625 21,152 Debt discount, net (46) — (48) — Deferred financing costs, net (3,339) — (3,477) — HELVII Solar loan-backed notes 2.52 % 135,091 16,386 2.44 % 141,407 12,580 Debt discount, net (43) — (45) — Deferred financing costs, net (2,493) — (2,587) — HELVIII Solar loan-backed notes 3.41 % 271,169 24,568 — — Debt discount, net (5,925) — — — Deferred financing costs, net (4,842) — — — Total $ 3,461,614 $ 155,113 $ 3,135,681 $ 129,793
Schedule of carrying values and estimated fair values of debt instruments	Fair Values of Long-Term Debt . The fair values of our long-term debt and the corresponding carrying amounts are as follows: As of March 31, 2022 As of December 31, 2021 Carrying Estimated Carrying Estimated (in thousands) SEI 0.25% convertible senior notes $ 575,000 $ 538,258 $ 575,000 $ 568,732 Sunnova Energy Corporation 5.875% senior notes 400,000 373,397 400,000 391,917 EZOP revolving credit facility 190,000 190,000 190,000 190,000 HELII solar asset-backed notes 218,183 228,540 226,417 253,079 RAYSI solar asset-backed notes 119,073 118,309 120,365 129,575 HELIII solar loan-backed notes 112,963 109,300 116,247 120,465 TEPH revolving credit facility 218,950 218,950 118,950 118,950 SOLI solar asset-backed notes 377,605 351,646 381,867 382,511 HELIV solar loan-backed notes 125,250 113,616 128,516 123,189 SOLII solar asset-backed notes 245,648 212,854 247,469 231,894 HELV solar loan-backed notes 167,847 152,634 172,097 165,848 SOLIII solar asset-backed notes 305,882 273,756 310,659 302,994 HELVI solar loan-backed notes 198,998 180,887 202,777 199,159 HELVII solar loan-backed notes 151,477 141,436 153,987 153,518 HELVIII solar loan-backed notes 295,737 286,555 — — Total (1) $ 3,702,613 $ 3,490,138 $ 3,344,351 $ 3,331,831 (1) Amounts exclude the net deferred financing costs (classified as debt) and net debt discounts of $85.9 million and $78.9 million as of March 31, 2022 and December 31, 2021, respectively.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Outstanding derivative instruments	The following table presents a summary of the outstanding derivative instruments: As of March 31, 2022 As of December 31, 2021 Effective Termination Fixed Aggregate Effective Termination Fixed Aggregate (in thousands, except interest rates) EZOP March 2021 - July 2033 - 1.000% $ 346,880 March 2021 - July 2033 - 1.000% $ 261,836 TEPH February 2019 - January 2023 - 0.121% - 2.534% 299,857 February 2019 - January 2023 - 0.121% - 2.534% 270,170 Total $ 646,737 $ 532,006
Fair value of interest rate swaps	The following table presents the fair value of the interest rate swaps and caps as recorded in the unaudited condensed consolidated balance sheets: As of As of (in thousands) Other assets $ 44,370 $ 14,351 Other long-term liabilities — (5,330) Total, net $ 44,370 $ 9,021 Three Months Ended 2022 2021 (in thousands) Realized loss $ 591 $ 591 Unrealized gain (35,349) (18,705) Total $ (34,758) $ (18,114)

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Stock option activity	The following table summarizes stock option activity: Number Weighted Weighted Weighted Aggregate (in thousands) Outstanding, December 31, 2021 2,765,815 $ 16.71 4.91 $ 31,874 Granted 538,758 $ 27.62 9.98 $ 14.37 Exercised (200) $ 1.85 $ 4 Forfeited (1,941) $ 40.50 $ 18.35 Outstanding, March 31, 2022 3,302,432 $ 18.48 5.52 $ 20,317 Exercisable, March 31, 2022 2,713,224 $ 16.25 4.58 $ 20,317 Vested and expected to vest, March 31, 2022 3,302,432 $ 18.48 5.52 $ 20,317 Non-vested, March 31, 2022 589,208 $ 14.71
Restricted stock unit activity	The following table summarizes restricted stock unit activity: Number of Weighted Outstanding, December 31, 2021 1,649,789 $ 18.48 Granted 890,677 $ 24.55 Vested (644,466) $ 20.46 Forfeited (2,013) $ 32.73 Outstanding, March 31, 2022 1,893,987 $ 20.65

Basic and Diluted Net Loss Pe_2

Basic and Diluted Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of basic and diluted net loss per share	The following table sets forth the computation of our basic and diluted net loss per share: Three Months Ended 2022 2021 (in thousands, except share and per share amounts) Net loss attributable to common stockholders—basic and diluted $ (33,583) $ (32,983) Net loss per share attributable to common stockholders—basic and diluted $ (0.30) $ (0.31) Weighted average common shares outstanding—basic and diluted 113,499,426 106,359,220
Schedule of antidilutive weighted average shares	The following table presents the weighted average shares of common stock equivalents that were excluded from the computation of diluted net loss per share for the periods presented because including them would have been anti-dilutive: Three Months Ended 2022 2021 Equity-based compensation awards 4,486,559 4,902,790 Convertible senior notes 16,628,073 1,682,132

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of performance guarantee obligations	The changes in our aggregate performance guarantee obligations are as follows: As of March 31, 2022 2021 (in thousands) Balance at beginning of period $ 5,293 $ 5,718 Accruals 329 433 Settlements (3,148) (3,246) Balance at end of period $ 2,474 $ 2,905
Lease expense	The following table presents the detail of lease expense as recorded in general and administrative expense in the unaudited condensed consolidated statements of operations: Three Months Ended 2022 2021 (in thousands) Operating lease expense $ 692 $ 336 Finance lease expense: Amortization expense 175 25 Interest on lease liabilities 14 3 Short-term lease expense 27 10 Variable lease expense 255 261 Total $ 1,163 $ 635 Other information related to leases was as follows: Three Months Ended 2022 2021 (in thousands) Cash paid (received) for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases (1) $ 382 $ (42) Operating cash flows from finance leases 14 3 Financing cash flows from finance leases 199 28 Right-of-use assets obtained in exchange for lease obligations: Operating leases — — Finance leases 287 — (1) Includes reimbursements in 2022 and 2021 of approximately $45,000 and $423,000, respectively, for leasehold improvements. As of As of Weighted average remaining lease term (years): Operating leases 7.30 7.54 Finance leases 3.20 3.35 Weighted average discount rate: Operating leases 3.92 % 3.92 % Finance leases 3.17 % 3.11 %
Lease assets and liabilities	The following table presents the detail of right-of-use assets and lease liabilities as recorded in other assets other current liabilities other long-term liabilities As of As of (in thousands) Right-of-use assets: Operating leases $ 15,979 $ 16,483 Finance leases 2,299 2,187 Total right-of-use assets $ 18,278 $ 18,670 Current lease liabilities: Operating leases $ 1,525 $ 1,190 Finance leases 690 660 Long-term leases liabilities: Operating leases 17,155 17,684 Finance leases 1,029 1,024 Total lease liabilities $ 20,399 $ 20,558
Operating lease, future minimum lease payments	Future minimum lease payments under our non-cancelable leases as of March 31, 2022 were as follows: Operating Finance (in thousands) Remaining 2022 $ 1,514 $ 570 2023 3,086 609 2024 3,065 439 2025 3,113 175 2026 3,180 5 2027 and thereafter 8,638 — Total 22,596 1,798 Amount representing interest (3,114) (79) Amount representing leasehold incentives (802) — Present value of future payments 18,680 1,719 Current portion of lease liability (1,525) (690) Long-term portion of lease liability $ 17,155 $ 1,029
Other commitments	Dealer Commitments. As of March 31, 2022 and December 31, 2021, the net unamortized balance of payments to dealers for exclusivity and other similar arrangements was $92.9 million and $81.8 million, respectively. Under these agreements, we paid $13.2 million and $3.7 million during the three months ended March 31, 2022 and 2021, respectively. We could be obligated to make maximum payments, excluding additional amounts payable on a per watt basis if even higher thresholds are met, as follows: Dealer (in thousands) Remaining 2022 $ 40,156 2023 40,621 2024 33,303 2025 25,492 2026 6,904 2027 and thereafter — Total $ 146,476
Future commitments	Purchase Commitments. In December 2021, we amended an agreement with a supplier in which we agreed to purchase at least 1,420 megawatt hours of solar energy systems, energy storage systems and accessories through December 2023. The amendment does not contain specific dollar amounts or thresholds; however, as of March 31, 2022, we estimate these remaining purchase commitments will range from $580.0 million to $640.0 million. Information (in thousands) Remaining 2022 $ 21,213 2023 18,264 2024 4,728 2025 17 2026 — 2027 and thereafter — Total $ 44,222

Description of Business and B_2

Description of Business and Basis of Presentation - (Details) customer in Thousands, $ in Billions	3 Months Ended	32 Months Ended
	Mar. 31, 2022renewal_optionstatecustomer	Mar. 31, 2022USD ($)state
Subsidiary, Sale of Stock [Line Items]
Number of customers | customer	207
Number of states in which entity operates (more than) | state	25	25
Maximum renewal term	10 years
Equity cure contribution | $		$ 9.4
Solar Service Agreement | Minimum
Subsidiary, Sale of Stock [Line Items]
Agreement term	10 years
Solar Service Agreement | Maximum
Subsidiary, Sale of Stock [Line Items]
Agreement term	25 years
Lease and Power Purchase Agreement (PPA) | Lease Agreement, Option One
Subsidiary, Sale of Stock [Line Items]
Number of options to renew term	2
Renewal term	5 years
Lease and Power Purchase Agreement (PPA) | Lease Agreement, Option Two
Subsidiary, Sale of Stock [Line Items]
Number of options to renew term	1
Renewal term	10 years

Significant Accounting Polici_4

Significant Accounting Policies - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)kWhrenewal_optionFICO_score	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Disaggregation of Revenue [Line Items]
Average age of solar systems	4 years
Inventory	$ 150,517		$ 127,955
Threshold period past due, writeoff	180 days
Deferred revenue	$ 363,056		297,819	$ 106,800
Revenue recognized	2,100	$ 2,500
Solar Renewable Energy Certificates
Disaggregation of Revenue [Line Items]
Inventory	$ 0		0
PPA revenue | Lease Agreement, Option One
Disaggregation of Revenue [Line Items]
Renewal term	5 years
Number of options to renew term | renewal_option	2
PPA revenue | Lease Agreement, Option Two
Disaggregation of Revenue [Line Items]
Renewal term	10 years
Number of options to renew term | renewal_option	1
PPA revenue | Minimum
Disaggregation of Revenue [Line Items]
Agreement term	20 years
PPA revenue | Maximum
Disaggregation of Revenue [Line Items]
Agreement term	25 years
Renewal term	10 years
Lease revenue | Lease Agreement, Option One
Disaggregation of Revenue [Line Items]
Renewal term	5 years
Number of options to renew term | renewal_option	2
Lease revenue | Lease Agreement, Option Two
Disaggregation of Revenue [Line Items]
Renewal term	10 years
Number of options to renew term | renewal_option	1
Lease revenue | Minimum
Disaggregation of Revenue [Line Items]
Agreement term	20 years
Lease revenue | Maximum
Disaggregation of Revenue [Line Items]
Agreement term	25 years
Renewal term	10 years
Solar renewable energy certificate revenue
Disaggregation of Revenue [Line Items]
Energy per certificate (in kWhs) | kWh	1,000
Typical period for receiving payment	1 month
Other revenue | Maximum
Disaggregation of Revenue [Line Items]
Agreement term	10 years
Loan revenue
Disaggregation of Revenue [Line Items]
Deferred revenue	$ 338,036		$ 275,681
Loan revenue | Minimum
Disaggregation of Revenue [Line Items]
Agreement term	10 years
Minimum FICO score required for customer to qualify for program | FICO_score	600
Loan revenue | Median
Disaggregation of Revenue [Line Items]
Agreement term	15 years
Loan revenue | Maximum
Disaggregation of Revenue [Line Items]
Agreement term	25 years
Minimum FICO score required for customer to qualify for program | FICO_score	730

Significant Accounting Polici_5

Significant Accounting Policies - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accounting Policies [Abstract]
Balance at beginning of period	$ 1,044	$ 912
Provision for current expected credit losses	475	396
Write off of uncollectible accounts	(506)	(496)
Recoveries	52	36
Balance at end of period	$ 1,065	$ 848

Significant Accounting Polici_6

Significant Accounting Policies - Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Inventory [Line Items]
Inventory	$ 150,517	$ 127,955
Modules and inverters
Inventory [Line Items]
Inventory	51,984	60,661
Energy storage systems and components
Inventory [Line Items]
Inventory	66,297	43,071
Homebuilder construction in progress
Inventory [Line Items]
Inventory	31,639	23,642
Meters and modems
Inventory [Line Items]
Inventory	$ 597	$ 581

Significant Accounting Polici_7

Significant Accounting Policies - Schedule of Fair Value of Recurring Financial Instruments (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments in solar receivables	$ 77,578	$ 82,658
Derivative assets	44,370	14,351
Total assets	121,948	97,009
Contingent consideration	41,915	67,895
Derivative liabilities		5,330
Total liabilities	41,915	73,225
Fair Value, Inputs, Level 1
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments in solar receivables	0	0
Derivative assets	0	0
Total assets	0	0
Contingent consideration	0	0
Derivative liabilities		0
Total liabilities	0	0
Fair Value, Inputs, Level 2
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments in solar receivables	0	0
Derivative assets	44,370	14,351
Total assets	44,370	14,351
Contingent consideration	0	0
Derivative liabilities		5,330
Total liabilities	0	5,330
Fair Value, Inputs, Level 3
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments in solar receivables	77,578	82,658
Derivative assets	0	0
Total assets	77,578	82,658
Contingent consideration	41,915	67,895
Derivative liabilities		0
Total liabilities	$ 41,915	$ 67,895

Significant Accounting Polici_8

Significant Accounting Policies - Schedule of Investment in Solar Receivables Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	$ 82,658	$ 0
Settlements	(1,320)	0
Loss recognized in earnings	(3,760)	0
Balance at end of period	$ 77,578	$ 0

Significant Accounting Polici_9

Significant Accounting Policies - Schedule of changes in fair value of liabilities accounted for an a recurring basis (Details) - Contingent Consideration Liability - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Balance at beginning of period	$ 67,895	$ 0
Settlements/reclassifications	(16,013)	0
Gain recognized in earnings	(9,967)	0
Balance at end of period	$ 41,915	$ 0

Significant Accounting Polic_10

Significant Accounting Policies - Schedule of Detailed Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 65,722	$ 41,276
PPA revenue
Disaggregation of Revenue [Line Items]
Revenue	21,185	16,834
Lease revenue
Disaggregation of Revenue [Line Items]
Revenue	21,780	16,397
Solar renewable energy certificate revenue
Disaggregation of Revenue [Line Items]
Revenue	6,244	5,957
Cash sales revenue
Disaggregation of Revenue [Line Items]
Revenue	11,348	0
Loan revenue
Disaggregation of Revenue [Line Items]
Revenue	3,376	1,195
Other revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 1,789	$ 893

Significant Accounting Polic_11

Significant Accounting Policies - Performance Obligations (Details) $ in Billions	3 Months Ended
	Mar. 31, 2022USD ($)
Accounting Policies [Abstract]
Contracted but not yet recognized revenue	$ 2.3
Performance obligation, description of timing	We do not expect the annual recognition to vary significantly over approximately the next 20 years as the vast majority of existing solar service agreements have at least 20 years remaining
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contracted but not yet recognized revenue	4.00%
Contracted but not yet recognized revenue, expected timing of satisfaction	12 months

Significant Accounting Polic_12

Significant Accounting Policies - Deferred Revenue (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Deferred revenue	$ 363,056	$ 297,819	$ 106,800
Deferred revenue included in other current liabilities	19,209	15,273
Loans
Disaggregation of Revenue [Line Items]
Deferred revenue	338,036	275,681
PPAs and leases
Disaggregation of Revenue [Line Items]
Deferred revenue	20,221	17,274
Solar receivables
Disaggregation of Revenue [Line Items]
Deferred revenue	$ 4,799	$ 4,864

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,382,170	$ 3,210,348
Less: accumulated depreciation	(325,272)	(300,735)
Property and equipment, net	$ 3,056,898	2,909,613
Solar energy systems
Property, Plant and Equipment [Line Items]
Useful Lives	35 years
Property and equipment, gross	$ 3,087,926	2,917,721
Less: accumulated depreciation	(286,300)	(264,600)
Construction in progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 186,361	188,518
Asset retirement obligations
Property, Plant and Equipment [Line Items]
Useful Lives	30 years
Property and equipment, gross	$ 47,815	45,264
Information technology systems
Property, Plant and Equipment [Line Items]
Useful Lives	3 years
Property and equipment, gross	$ 49,841	49,673
Computers and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,805	3,085
Computers and equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful Lives	3 years
Computers and equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful Lives	5 years
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 3,495	3,160
Leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Useful Lives	3 years
Leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Useful Lives	6 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Useful Lives	7 years
Property and equipment, gross	$ 1,132	1,132
Vehicles
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 1,638	1,638
Vehicles | Minimum
Property, Plant and Equipment [Line Items]
Useful Lives	4 years
Vehicles | Maximum
Property, Plant and Equipment [Line Items]
Useful Lives	5 years
Other
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 157	$ 157
Other | Minimum
Property, Plant and Equipment [Line Items]
Useful Lives	5 years
Other | Maximum
Property, Plant and Equipment [Line Items]
Useful Lives	6 years

Detail of Certain Balance She_3

Detail of Certain Balance Sheet Captions - Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Inventory	$ 150,517	$ 127,955
Restricted cash	34,958	80,213	$ 43,603
Current portion of customer notes receivable	67,608	56,074
Other prepaid assets	16,438	14,920
Current portion of investments in solar receivables	6,750	6,787
Prepaid inventory	2,155	4,835
Deferred receivables	4,021	4,818
Other	692	719
Total	$ 283,139	$ 296,321

Detail of Certain Balance She_4

Detail of Certain Balance Sheet Captions - Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Construction in progress - customer notes receivable	$ 271,400	$ 238,791
Exclusivity and other bonus arrangements with dealers, net	92,854	81,756
Investments in solar receivables	70,828	75,871
Restricted cash	81,478	68,583	$ 68,968
Straight-line revenue adjustment, net	45,835	43,367
Other	100,061	62,768
Total	$ 662,456	$ 571,136

Detail of Certain Balance She_5

Detail of Certain Balance Sheet Captions - Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interest payable	$ 13,658	$ 22,740
Deferred revenue	19,209	15,273
Current portion of performance guarantee obligations	1,993	3,175
Current portion of operating and finance lease liability	2,215	1,850
Other	240	1,312
Total	$ 37,315	$ 44,350

Asset Retirement Obligations _3

Asset Retirement Obligations ("ARO") (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligation, useful life	30 years
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward]
Balance at beginning of period	$ 54,396	$ 41,788
Additional obligations incurred	2,573	2,290
Accretion expense	840	652
Other	(30)	(16)
Balance at end of period	$ 57,779	$ 44,714

Customer Notes Receivable - Nar

Customer Notes Receivable - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan systems not yet placed in service	$ 271,400,000		$ 238,800,000
Interest income	10,932,000	$ 7,180,000
Customer notes receivable not accruing interest	6,900,000		0
Customer notes receivable not accruing interest, allowance	156,000		0
Interest income for nonaccrual loans	0	0
Amortized cost	19,600,000		15,300,000
Customer notes receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income	10,800,000	7,100,000
Accrued investment income receivable	3,000,000		$ 3,500,000
Accrued investment income receivable, written off	$ 493,000	$ 0
Loan revenue | Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Agreement term	10 years
Loan revenue | Median
Accounts, Notes, Loans and Financing Receivable [Line Items]
Agreement term	15 years
Loan revenue | Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Agreement term	25 years

Customer Notes Receivable - Sch

Customer Notes Receivable - Schedule of Customer Notes Receivables (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer notes receivable	$ 1,565,417	$ 1,301,285
Allowance for credit losses	(47,818)	(41,138)	$ (20,919)	$ (17,668)
Current portion of customer notes receivable	67,608	56,074
Customer Notes Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Current portion of customer notes receivable	67,600	56,100
Carrying Value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer notes receivable	1,517,599	1,260,147
Estimated Fair Value
Accounts, Notes, Loans and Financing Receivable [Line Items]
Customer notes receivable	$ 1,518,491	$ 1,274,099

Customer Notes Receivable - S_2

Customer Notes Receivable - Schedule of Changes in Allowances for Credit Losses Related to Customer Notes Receivable (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Receivables [Abstract]
Balance at beginning of period	$ 41,138	$ 17,668
Provision for current expected credit loss	6,644	3,251
Recoveries	36	0
Balance at end of period	47,818	20,919
Provision for expected credit losses	$ 13	$ 62

Customer Notes Receivable - S_3

Customer Notes Receivable - Schedule of Aged Receivables (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Customer notes receivable	$ 1,565,417	$ 1,301,285
Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Customer notes receivable	46,604	38,463
1-90 days past due
Financing Receivable, Past Due [Line Items]
Customer notes receivable	26,998	23,118
91-180 days past due
Financing Receivable, Past Due [Line Items]
Customer notes receivable	6,374	5,068
Greater than 180 days past due
Financing Receivable, Past Due [Line Items]
Customer notes receivable	13,232	10,277
Not past due
Financing Receivable, Past Due [Line Items]
Customer notes receivable	$ 1,518,813	$ 1,262,822

Customer Notes Receivable - S_4

Customer Notes Receivable - Schedule of Amortized cost of Customer Notes Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
2022	$ 285,471
2021	778,941
2020	238,848
2019	123,322
2018	81,078
Prior	57,757
Total	1,565,417	$ 1,301,285
Performing
Financing Receivable, Credit Quality Indicator [Line Items]
2022	285,471
2021	776,506
2020	237,342
2019	120,747
2018	78,317
Prior	53,802
Total	1,552,185
Nonperforming
Financing Receivable, Credit Quality Indicator [Line Items]
2022	0
2021	2,435
2020	1,506
2019	2,575
2018	2,761
Prior	3,955
Total	$ 13,232

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Long-term debt, non-current	$ 3,461,614	$ 3,135,681
Long-term debt, current	155,113	129,793
SEI | Convertible senior notes
Debt Instrument [Line Items]
Debt discount, net, non-current	(12,170)	(12,810)
Debt discount, net, current	0	0
Deferred financing costs, net, non-current	(519)	(547)
Deferred financing costs, net, current	$ 0	$ 0
SEI | Convertible senior notes | 0.25% convertible senior notes
Debt Instrument [Line Items]
Stated interest rate	0.25%
Weighted average effective interest rate	0.71%	0.70%
Long-term debt, gross, non-current	$ 575,000	$ 575,000
Long-term debt, gross, current	0	0
Sunnova Energy Corporation
Debt Instrument [Line Items]
Debt discount, net, non-current	(4,381)	(4,629)
Debt discount, net, current	0	0
Deferred financing costs, net, non-current	(8,853)	(9,341)
Deferred financing costs, net, current	$ 0	$ 0
Sunnova Energy Corporation | Senior notes | 5.875% senior notes
Debt Instrument [Line Items]
Stated interest rate	5.875%
Weighted average effective interest rate	6.59%	6.42%
Long-term debt, gross, non-current	$ 400,000	$ 400,000
Long-term debt, gross, current	0	0
EZOP | Revolving credit facility
Debt Instrument [Line Items]
Debt discount, net, non-current	(776)	(898)
Debt discount, net, current	$ 0	$ 0
EZOP | Revolving credit facility | Revolving credit facility
Debt Instrument [Line Items]
Weighted average effective interest rate	3.21%	4.12%
Long-term debt, gross, non-current	$ 190,000	$ 190,000
Long-term debt, gross, current	0	0
HELII
Debt Instrument [Line Items]
Debt discount, net, non-current	(34)	(36)
Debt discount, net, current	0	0
Deferred financing costs, net, non-current	(4,133)	(4,346)
Deferred financing costs, net, current	$ 0	$ 0
HELII | Solar asset-backed notes
Debt Instrument [Line Items]
Weighted average effective interest rate	5.83%	5.71%
Long-term debt, gross, non-current	$ 209,913	$ 217,465
Long-term debt, gross, current	8,270	8,952
RAYSI
Debt Instrument [Line Items]
Debt discount, net, non-current	(1,114)	(1,166)
Debt discount, net, current	0	0
Deferred financing costs, net, non-current	(3,782)	(3,893)
Deferred financing costs, net, current	$ 0	$ 0
RAYSI | Solar asset-backed notes
Debt Instrument [Line Items]
Weighted average effective interest rate	5.62%	5.55%
Long-term debt, gross, non-current	$ 115,009	$ 115,792
Long-term debt, gross, current	4,064	4,573
HELIII
Debt Instrument [Line Items]
Debt discount, net, non-current	(1,761)	(1,838)
Debt discount, net, current	0	0
Deferred financing costs, net, non-current	(1,691)	(1,765)
Deferred financing costs, net, current	$ 0	$ 0
HELIII | Solar loan-backed notes
Debt Instrument [Line Items]
Weighted average effective interest rate	4.46%	4.79%
Long-term debt, gross, non-current	$ 102,169	$ 105,331
Long-term debt, gross, current	10,794	10,916
TEPH
Debt Instrument [Line Items]
Debt discount, net, non-current	(3,198)	(3,678)
Debt discount, net, current	$ 0	$ 0
TEPH | Revolving credit facility | Revolving credit facility
Debt Instrument [Line Items]
Weighted average effective interest rate	7.19%	6.86%
Long-term debt, gross, non-current	$ 218,950	$ 118,950
Long-term debt, gross, current	0	0
SOLI
Debt Instrument [Line Items]
Debt discount, net, non-current	(97)	(100)
Debt discount, net, current	0	0
Deferred financing costs, net, non-current	(7,620)	(7,881)
Deferred financing costs, net, current	$ 0	$ 0
SOLI | Solar asset-backed notes
Debt Instrument [Line Items]
Weighted average effective interest rate	3.98%	3.91%
Long-term debt, gross, non-current	$ 362,068	$ 366,304
Long-term debt, gross, current	15,537	15,563
HELIV
Debt Instrument [Line Items]
Debt discount, net, non-current	(683)	(724)
Debt discount, net, current	0	0
Deferred financing costs, net, non-current	(3,113)	(3,283)
Deferred financing costs, net, current	$ 0	$ 0
HELIV | Solar loan-backed notes
Debt Instrument [Line Items]
Weighted average effective interest rate	4.21%	4.16%
Long-term debt, gross, non-current	$ 113,854	$ 116,579
Long-term debt, gross, current	$ 11,396	$ 11,937
AP8 | Revolving credit facility | Revolving credit facility
Debt Instrument [Line Items]
Weighted average effective interest rate	0.00%	7.17%
Long-term debt, gross, non-current	$ 0	$ 0
Long-term debt, gross, current	0	0
SOLII
Debt Instrument [Line Items]
Debt discount, net, non-current	(70)	(72)
Debt discount, net, current	0	0
Deferred financing costs, net, non-current	(5,040)	(5,192)
Deferred financing costs, net, current	$ 0	$ 0
SOLII | Solar asset-backed notes
Debt Instrument [Line Items]
Weighted average effective interest rate	3.45%	3.42%
Long-term debt, gross, non-current	$ 239,426	$ 241,293
Long-term debt, gross, current	6,222	6,176
HELV
Debt Instrument [Line Items]
Debt discount, net, non-current	(803)	(840)
Debt discount, net, current	0	0
Deferred financing costs, net, non-current	(3,088)	(3,230)
Deferred financing costs, net, current	$ 0	$ 0
HELV | Solar loan-backed notes
Debt Instrument [Line Items]
Weighted average effective interest rate	2.49%	2.44%
Long-term debt, gross, non-current	$ 147,834	$ 150,743
Long-term debt, gross, current	20,013	21,354
SOLIII
Debt Instrument [Line Items]
Debt discount, net, non-current	(128)	(132)
Debt discount, net, current	0	0
Deferred financing costs, net, non-current	(6,144)	(6,319)
Deferred financing costs, net, current	$ 0	$ 0
SOLIII | Solar asset-backed notes
Debt Instrument [Line Items]
Weighted average effective interest rate	2.81%	2.73%
Long-term debt, gross, non-current	$ 289,282	$ 294,069
Long-term debt, gross, current	16,600	16,590
HELVI
Debt Instrument [Line Items]
Debt discount, net, non-current	(46)	(48)
Debt discount, net, current	0	0
Deferred financing costs, net, non-current	(3,339)	(3,477)
Deferred financing costs, net, current	$ 0	$ 0
HELVI | Solar loan-backed notes
Debt Instrument [Line Items]
Weighted average effective interest rate	2.09%	2.02%
Long-term debt, gross, non-current	$ 177,735	$ 181,625
Long-term debt, gross, current	21,263	21,152
HELVII
Debt Instrument [Line Items]
Debt discount, net, non-current	(43)	(45)
Debt discount, net, current	0	0
Deferred financing costs, net, non-current	(2,493)	(2,587)
Deferred financing costs, net, current	$ 0	$ 0
HELVII | Solar loan-backed notes
Debt Instrument [Line Items]
Weighted average effective interest rate	2.52%	2.44%
Long-term debt, gross, non-current	$ 135,091	$ 141,407
Long-term debt, gross, current	16,386	12,580
HELVIII
Debt Instrument [Line Items]
Debt discount, net, non-current	(5,925)	0
Debt discount, net, current	0	0
Deferred financing costs, net, non-current	(4,842)	0
Deferred financing costs, net, current	$ 0	$ 0
HELVIII | Solar loan-backed notes
Debt Instrument [Line Items]
Weighted average effective interest rate	3.41%
Long-term debt, gross, non-current	$ 271,169	$ 0
Long-term debt, gross, current	$ 24,568	$ 0

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($) $ in Millions	1 Months Ended
	Feb. 28, 2022	Mar. 31, 2022
Debt Instrument [Line Items]
Borrowing capacity		$ 311.8
EZOP | Revolving credit facility | Revolving credit facility
Debt Instrument [Line Items]
Borrowing capacity		10
TEPH | Revolving credit facility | Revolving credit facility
Debt Instrument [Line Items]
Borrowing capacity		241.8
AP8 | Revolving credit facility | Revolving credit facility
Debt Instrument [Line Items]
Borrowing capacity		$ 60
HELVIII | Series 2022-A Class A
Debt Instrument [Line Items]
Principal amount of debt issued	$ 131.9
Discount	1.55%
Stated interest rate	2.79%
HELVIII | Series 2022-A Class B
Debt Instrument [Line Items]
Principal amount of debt issued	$ 102.2
Discount	2.23%
Stated interest rate	3.13%
HELVIII | Series 2022-A Class C
Debt Instrument [Line Items]
Principal amount of debt issued	$ 63.8
Discount	2.62%
Stated interest rate	3.53%

Long-Term Debt - Schedule of Fa

Long-Term Debt - Schedule of Fair Value of Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Net deferred financing costs and debt discounts	$ 85,900	$ 78,900
Carrying Value
Debt Instrument [Line Items]
Long-term debt	3,702,613	3,344,351
Estimated Fair Value
Debt Instrument [Line Items]
Long-term debt	$ 3,490,138	3,331,831
SEI | Convertible senior notes | 0.25% convertible senior notes
Debt Instrument [Line Items]
Stated interest rate	0.25%
SEI | Carrying Value | Convertible senior notes | 0.25% convertible senior notes
Debt Instrument [Line Items]
Long-term debt	$ 575,000	575,000
SEI | Estimated Fair Value | Convertible senior notes | 0.25% convertible senior notes
Debt Instrument [Line Items]
Long-term debt	538,258	568,732
Sunnova Energy Corporation | Carrying Value | Convertible senior notes | 5.875% senior notes
Debt Instrument [Line Items]
Long-term debt	400,000	400,000
Sunnova Energy Corporation | Estimated Fair Value | Convertible senior notes | 5.875% senior notes
Debt Instrument [Line Items]
Long-term debt	373,397	391,917
HELII | Carrying Value | Solar asset-backed notes
Debt Instrument [Line Items]
Long-term debt	218,183	226,417
HELII | Estimated Fair Value | Solar asset-backed notes
Debt Instrument [Line Items]
Long-term debt	228,540	253,079
RAYSI | Carrying Value | Solar asset-backed notes
Debt Instrument [Line Items]
Long-term debt	119,073	120,365
RAYSI | Estimated Fair Value | Solar asset-backed notes
Debt Instrument [Line Items]
Long-term debt	118,309	129,575
HELIII | Carrying Value | Solar loan-backed notes
Debt Instrument [Line Items]
Long-term debt	112,963	116,247
HELIII | Estimated Fair Value | Solar loan-backed notes
Debt Instrument [Line Items]
Long-term debt	109,300	120,465
SOLI | Carrying Value | Solar asset-backed notes
Debt Instrument [Line Items]
Long-term debt	377,605	381,867
SOLI | Estimated Fair Value | Solar asset-backed notes
Debt Instrument [Line Items]
Long-term debt	351,646	382,511
HELIV | Carrying Value | Solar loan-backed notes
Debt Instrument [Line Items]
Long-term debt	125,250	128,516
HELIV | Estimated Fair Value | Solar loan-backed notes
Debt Instrument [Line Items]
Long-term debt	113,616	123,189
SOLII | Carrying Value | Solar asset-backed notes
Debt Instrument [Line Items]
Long-term debt	245,648	247,469
SOLII | Estimated Fair Value | Solar asset-backed notes
Debt Instrument [Line Items]
Long-term debt	212,854	231,894
HELV | Carrying Value | Solar loan-backed notes
Debt Instrument [Line Items]
Long-term debt	167,847	172,097
HELV | Estimated Fair Value | Solar loan-backed notes
Debt Instrument [Line Items]
Long-term debt	152,634	165,848
SOLIII | Carrying Value | Solar asset-backed notes
Debt Instrument [Line Items]
Long-term debt	305,882	310,659
SOLIII | Estimated Fair Value | Solar asset-backed notes
Debt Instrument [Line Items]
Long-term debt	273,756	302,994
HELVI | Carrying Value | Solar loan-backed notes
Debt Instrument [Line Items]
Long-term debt	198,998	202,777
HELVI | Estimated Fair Value | Solar loan-backed notes
Debt Instrument [Line Items]
Long-term debt	180,887	199,159
HELVII | Carrying Value | Solar loan-backed notes
Debt Instrument [Line Items]
Long-term debt	151,477	153,987
HELVII | Estimated Fair Value | Solar loan-backed notes
Debt Instrument [Line Items]
Long-term debt	141,436	153,518
HELVIII | Carrying Value | Solar loan-backed notes
Debt Instrument [Line Items]
Long-term debt	295,737	0
HELVIII | Estimated Fair Value | Solar loan-backed notes
Debt Instrument [Line Items]
Long-term debt	286,555	0
Revolving credit facility | EZOP | Carrying Value | Revolving credit facility
Debt Instrument [Line Items]
Long-term debt	190,000	190,000
Revolving credit facility | EZOP | Estimated Fair Value | Revolving credit facility
Debt Instrument [Line Items]
Long-term debt	190,000	190,000
Revolving credit facility | TEPH | Carrying Value | Revolving credit facility
Debt Instrument [Line Items]
Long-term debt	218,950	118,950
Revolving credit facility | TEPH | Estimated Fair Value | Revolving credit facility
Debt Instrument [Line Items]
Long-term debt	$ 218,950	$ 118,950

Derivative Instruments - Narrat

Derivative Instruments - Narrative (Details) - Interest Rate Swap - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Derivative [Line Items]
Aggregate Notional Amount	$ 646,737,000		$ 532,006,000
EZOP
Derivative [Line Items]
Aggregate Notional Amount	0	$ 180,200,000
Aggregate notional amount of unwound derivative	0	131,700,000
Realized loss	0	68,000
TEPH
Derivative [Line Items]
Aggregate Notional Amount	0	80,100,000
Aggregate notional amount of unwound derivative	0	0
Realized loss	$ 591,000	$ 523,000

Derivative Instruments - Outsta

Derivative Instruments - Outstanding Derivative Instruments (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Interest rate swap
Derivative [Line Items]
Aggregate Notional Amount	$ 646,737,000	$ 532,006,000
EZOP | Interest rate swap
Derivative [Line Items]
Aggregate Notional Amount	$ 0		$ 180,200,000
EZOP | Interest Rate Swap One
Derivative [Line Items]
Fixed Interest Rate	1.00%	1.00%
Aggregate Notional Amount	$ 346,880,000	$ 261,836,000
TEPH | Interest rate swap
Derivative [Line Items]
Aggregate Notional Amount	0		$ 80,100,000
TEPH | Interest Rate Swap Two
Derivative [Line Items]
Aggregate Notional Amount	$ 299,857,000	$ 270,170,000
TEPH | Interest Rate Swap Two | Minimum
Derivative [Line Items]
Fixed Interest Rate	0.121%	0.121%
TEPH | Interest Rate Swap Two | Maximum
Derivative [Line Items]
Fixed Interest Rate	2.534%	2.534%

Derivative Instruments - Balanc

Derivative Instruments - Balance Sheet (Details) - Not designated as hedging instrument - Interest rate swap - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Total, net	$ 44,370	$ 9,021
Other assets
Derivatives, Fair Value [Line Items]
Derivative asset, fair value	44,370	14,351
Other long-term liabilities
Derivatives, Fair Value [Line Items]
Derivative liability, fair value	$ 0	$ (5,330)

Derivative Instruments - Intere

Derivative Instruments - Interest Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain	$ (35,349)	$ (18,705)
Interest Rate Swap | Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Realized loss	591	591
Unrealized gain	(35,349)	(18,705)
Total	$ (34,758)	$ (18,114)

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate	0.00%	0.00%
Income tax penalties and interest accrued	$ 0		$ 0

Redeemable Noncontrolling Int_2

Redeemable Noncontrolling Interests and Noncontrolling Interests - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Feb. 28, 2022	Mar. 31, 2022
Noncontrolling Interest [Line Items]
Contributions from redeemable noncontrolling interests and noncontrolling interests		$ 3,757
Class A members | TEP6B
Noncontrolling Interest [Line Items]
Contributions from redeemable noncontrolling interests and noncontrolling interests	$ 150,000

Equity-Based Compensation - Sto

Equity-Based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Number of Stock Options
Outstanding, beginning balance (in shares)	2,765,815
Granted (in shares)	538,758
Exercised (in shares)	(200)
Forfeited (in shares)	(1,941)
Outstanding, ending balance (in shares)	3,302,432	2,765,815
Number of stock options, exercisable (in shares)	2,713,224
Number of stock options, vested and expected to vest (in shares)	3,302,432
Number of stock options, non-vested (in shares)	589,208
Weighted Average Exercise Price
Outstanding, beginning balance (in USD per share)	$ 16.71
Granted (in USD per share)	27.62
Exercised (in USD per share)	1.85
Forfeited (in USD per share)	40.50
Outstanding, ending balance (in USD per share)	18.48	$ 16.71
Weighted average exercise price, exercisable (in USD per share)	16.25
Weighted average exercise price, vested and expected to vest (in USD per share)	$ 18.48
Weighted Average Remaining Contractual Term (Years)
Outstanding, balance	5 years 6 months 7 days	4 years 10 months 28 days
Granted	9 years 11 months 23 days
Weighted average remaining contractual term, exercisable	4 years 6 months 29 days
Weighted average remaining contractual term, vested and expected to vest	5 years 6 months 7 days
Weighted Average Grant Date Fair Value
Granted (in USD per share)	$ 14.37
Forfeited (in USD per share)	18.35
Weighted average grant date fair value, non-vested (in USD per share)	$ 14.71
Aggregate Intrinsic Value
Outstanding, beginning balance	$ 31,874
Exercised	4
Outstanding, ending balance	20,317	$ 31,874
Aggregate intrinsic value, exercisable	20,317
Aggregate intrinsic value, vested and expected to vest	$ 20,317

Equity-Based Compensation - Nar

Equity-Based Compensation - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended
	Feb. 28, 2022	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options vested (in shares)		16,816	0
Stock options vested, value		$ 309,000	$ 0
Total unrecognized compensation expense		$ 8,500,000
Long-Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional shares authorized during period (in shares)	1,265,071
Shares authorized (in shares)				5,667,761
Common stock outstanding				5.00%
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period		2 years 7 months 17 days
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period		1 year 9 months 10 days
Restricted stock units, vested		$ 13,200,000	$ 12,200,000
Stock units vested (in shares)		644,466	657,484
Unrecognized compensation expense		$ 34,000,000

Equity-Based Compensation - Res

Equity-Based Compensation - Restricted Stock Activity (Details) - Restricted Stock Units - $ / shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Number of Restricted Stock Units
Outstanding, beginning balance (in shares)	1,649,789
Granted (in shares)	890,677
Vested (in shares)	(644,466)	(657,484)
Forfeited (in shares)	(2,013)
Outstanding, ending balance (in shares)	1,893,987
Weighted Average Grant Date Fair Value
Outstanding. beginning balance (in USD per share)	$ 20.65		$ 18.48
Granted (in USD per share)	24.55
Vested (in USD per share)	20.46
Forfeited (in USD per share)	32.73
Outstanding, ending balance (in USD per share)	$ 20.65

Basic and Diluted Net Loss Pe_3

Basic and Diluted Net Loss Per Share - Schedule of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net loss attributable to common stockholders—basic	$ (33,583)	$ (32,983)
Net loss attributable to common stockholders - diluted	$ (33,583)	$ (32,983)
Net loss per share attributable to common stockholders - basic (in USD per share)	$ (0.30)	$ (0.31)
Net loss per share attributable to common stockholders - diluted (in USD per share)	$ (0.30)	$ (0.31)
Weighted average common shares outstanding - basic (in shares)	113,499,426	106,359,220
Weighted average common shares outstanding - diluted (in shares)	113,499,426	106,359,220

Basic and Diluted Net Loss Pe_4

Basic and Diluted Net Loss Per Share - Anti-Dilutive Weighted Average Shares (Details) - shares	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Equity-based compensation awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	4,486,559	4,902,790
Convertible senior notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	16,628,073	1,682,132

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) $ in Thousands	1 Months Ended	3 Months Ended
	Dec. 31, 2021USD ($)MWh	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Loss Contingencies [Line Items]
Current portion of performance guarantee obligations	$ 3,175	$ 1,993
Other commitment	$ 81,800	92,900
Payments for dealer commitments		13,200	$ 3,700
Megawatt hours to be purchased | MWh	1,420
Minimum
Loss Contingencies [Line Items]
Purchase Obligation, Estimated Commitment Range		580,000
Maximum
Loss Contingencies [Line Items]
Purchase Obligation, Estimated Commitment Range		640,000
Performance Guarantee Obligations
Loss Contingencies [Line Items]
Performance guarantee obligations	$ 5,293	2,474	$ 2,905	$ 5,718
Current portion of performance guarantee obligations	3,200	2,000
Long-term portion of performance guarantee obligations	$ 2,100	$ 481

Commitments and Contingencies_2

Commitments and Contingencies - Performance Guarantee Obligations (Details) - Performance Guarantee Obligations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Performance Guarantee Obligations [Roll Forward]
Balance at beginning of period	$ 5,293	$ 5,718
Accruals	329	433
Settlements	(3,148)	(3,246)
Balance at end of period	$ 2,474	$ 2,905

Commitments and Contingencies_3

Commitments and Contingencies - Lease Expenses and Other Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Operating lease expense	$ 692	$ 336
Finance lease expense:
Amortization expense	175	25
Interest on lease liabilities	14	3
Short-term lease expense	27	10
Variable lease expense	255	261
Total	$ 1,163	$ 635

Commitments and Contingencies_4

Commitments and Contingencies - Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Right-of-use assets:
Operating leases	$ 15,979	$ 16,483
Finance leases	2,299	2,187
Total right-of-use assets	18,278	18,670
Current lease liabilities:
Operating leases	1,525	1,190
Finance leases	690	660
Long-term leases liabilities:
Operating leases	17,155	17,684
Finance leases	1,029	1,024
Total lease liabilities	$ 20,399	$ 20,558
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Other current liabilities	Other current liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities	Other long-term liabilities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities	Other long-term liabilities

Commitments and Contingencies_5

Commitments and Contingencies - Other Lease Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash paid (received) for amounts included in the measurement of lease liabilities:
Operating cash flow from operating leases	$ 382	$ (42)
Operating cash flows from finance leases	14	3
Financing cash flows from finance leases	199	28
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	0	0
Finance leases	287	0
Leasehold improvements reimbursements	$ 45	$ 423
Weighted average remaining lease term (years):
Operating leases	7 years 3 months 18 days	7 years 6 months 14 days
Finance leases	3 years 2 months 12 days	3 years 4 months 6 days
Weighted average discount rate (percent)
Operating leases	3.92%	3.92%
Finance leases	3.17%	3.11%

Commitments and Contingencies_6

Commitments and Contingencies - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Operating Leases
Remaining 2022	$ 1,514
2023	3,086
2024	3,065
2025	3,113
2026	3,180
2027 and thereafter	8,638
Total	22,596
Amount representing interest	(3,114)
Amount representing leasehold incentives	(802)
Present value of future payments	18,680
Current portion of lease liability	(1,525)	$ (1,190)
Long-term portion of lease liability	17,155	17,684
Finance Leases
Remaining 2022	570
2023	609
2024	439
2025	175
2026	5
2027 and thereafter	0
Total	1,798
Amount representing interest	(79)
Amount representing leasehold incentives	0
Present value of future payments	1,719
Current portion of lease liability	(690)	(660)
Long-term portion of lease liability	$ 1,029	$ 1,024

Commitments and Contingencies_7

Commitments and Contingencies - Dealer Commitments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Other Commitments [Line Items]
Total	$ 92,900	$ 81,800
Long-Term Dealer Commitments
Other Commitments [Line Items]
Remaining 2022	40,156
2023	40,621
2024	33,303
2025	25,492
2026	6,904
2027 and thereafter	0
Total	$ 146,476

Commitments and Contingencies_8

Commitments and Contingencies - Information Technology Commitments (Details) $ in Thousands	Mar. 31, 2022USD ($)
Commitments and Contingencies Disclosure [Abstract]
Remaining 2022	$ 21,213
2023	18,264
2024	4,728
2025	17
2026	0
2027 and thereafter	0
Total	$ 44,222

Subsequent Events (Details)

Subsequent Events (Details)	1 Months Ended
	Apr. 28, 2022shares
Subsequent Event | SunStreet Energy Group, LLC
Subsequent Event [Line Items]
Shares issued (in shares)	694,446

Uncategorized Items - nova-2022

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2020-06 [Member]