Ideal Power Inc. Annual report pursuant to Section 13 and 15(d)

Property and Equipment

12 Months Ended

Dec. 31, 2021

Note 3 — Property and Equipment

Property and equipment, net consisted of the following:


	December 31,
	2021		2020
Machinery and equipment	$	93,811	$	89,559
Building leasehold improvements		10,245		25,090
Furniture, fixtures, software and IT equipment		62,884		45,517
		166,940		160,166
Accumulated depreciation and amortization		(110,782)		(123,041)
	$	56,158	$	37,125

Depreciation expenses amounted to $25,234 and $24,117 for the years ended December 31, 2021 and 2020, respectively.