Annual report pursuant to Section 13 and 15(d)

Property, plant and equipment

v3.20.1
Property, plant and equipment
 12 Months Ended
Dec. 31, 2019
Property, Plant and Equipment [Abstract]  
Property, plant and equipment
Property, plant and equipment
Property, plant and equipment at December 31, 2019 and 2018 consisted of the following:
 
Estimated Useful
Life (in Years)
 
2019
 
2018
Energy systems
10 - 15 years
 
$
4,372,638

 
$
12,709,990

Machinery and equipment
5 - 7 years
 
1,462,208

 
1,355,617

Furniture and fixtures
5 years
 
193,698

 
222,542

Computer software
3 - 5 years
 
192,865

 
200,626

Leasehold improvements
*
 
450,792

 
450,792

 
 
 
6,672,201

 
14,939,567

Less - accumulated depreciation and amortization
 
 
(3,206,253
)
 
(3,666,452
)
Net property, plant and equipment
 
 
$
3,465,948

 
$
11,273,115


* Lesser of estimated useful life of asset or lease term
Depreciation and amortization expense on property and equipment for the years ended December 31, 2019 and 2018 was $847,622 and $1,537,622, respectively.

In March 2019, the Company sold certain energy systems related assets and related energy production contracts. See Note 5."Sale of Energy Producing Assets and Goodwill Impairment" for further discussion.