Deferred Revenue |
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| Deferred Revenue Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Deferred Revenue |
11. DEFERRED REVENUE
The Company is the recipient of various private and governmental grants, rebates and marketing incentives. Reimbursements of periodic expenses are recognized as income when the related expense is incurred. Private and government grants and rebates related to EV charging stations and their installation are deferred and amortized in a manner consistent with the recognition of the related depreciation expense of the related asset over their useful lives.
Grant, rebate and incentive revenue recognized during the years ended December 31, 2019 and 2018 was $22,396 and $74,776, respectively. During the year ended December 31, 2019, the Company recognized $315,324 of revenue related to warranty and network fees, of which, $190,860 was included within deferred revenue as of December 31, 2018.
During the year ended December 31, 2019, the Company received a $338,817 deposit for a $1.1 million dollar purchase order for charging stations from Interenergy. As of December 31, 2019, the Company has not shipped any charging stations related to this purchase order, such that the entire amount was included in deferred revenue as of such date.
Deferred revenue consists of the following:
It is anticipated that deferred revenue as of December 31, 2019 will be recognized as follows:
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