8. ACCRUED EXPENSES

Accrued expenses consist of the following:

See Note 17 – Commitments and Contingencies – Taxes.

WARRANTY PAYABLE

The Company provides a limited product warranty against defects in materials and workmanship for its Blink Network residential and commercial chargers, ranging in length from one to two years. The Company accrues for estimated warranty costs at the time of revenue recognition and records the expense of such accrued liabilities as a component of cost of sales. Estimated warranty costs are based on known warranty issues and anticipated warranty costs. Should actual cost to repair and failure rates differ significantly from estimates, the impact of these unforeseen costs would be recorded as a change in estimate in the period identified. For the year ended December 31, 2020, the change in reserve was approximately $(2,000). Warranty expenses for the years ended December 31, 2020 and 2019 were $120,412 and $187,016, respectively, which has been included within cost of revenues on the consolidated statement of operations. As of December 31, 2020 and 2019 the Company recorded a warranty liability of $10,000 and $12,000, respectively, which represents the estimated cost to repair those chargers under warranty or host owned chargers for which the host has procured a maintenance contract. The Company records maintenance and repairs expenses for chargers it owns deployed at host locations as incurred. The Company estimates an approximate cost of $70,000 to repair those deployed chargers which it owns as of December 31, 2020.