EX-99.1

Exhibit 99.1

KPMG LLP

1676 International Drive

McLean, VA 22102

Independent Accountants’ Report on Applying Agreed-Upon Procedures

Sunrun Inc. (the “Company”)

Credit Suisse Securities (USA) LLC

(together, the “Specified Parties”)

Re: Sunrun Xanadu Issuer 2019-1, LLC – Data File Procedures

We have performed the procedures described below, which were agreed to by the Specified Parties, on the specified attributes identified by the Company in an electronic data file entitled “Sunrun Xanadu 2019-1 Data Tape (2019.02.20).xlsx” (the “Data File”), provided by the Company on February 20, 2019, containing certain information related to a pool of 14,379 solar assets (the “Solar Assets”) as of December 31, 2018 (the “Cut-off Date”), which we were informed are intended to be included as collateral in the offering of Sunrun Xanadu Issuer 2019-1, LLC, Solar Asset Backed Notes, Series 2019-1. The Company is responsible for the specified attributes identified by the Company in the Data File. The sufficiency of these procedures is solely the responsibility of the Specified Parties. Consequently, we make no representation regarding the sufficiency of the procedures described below either for the purpose for which this report has been requested or for any other purpose.

Unless otherwise noted, the following definitions have been adopted in presenting our procedures and findings:

•

The term “compared” means compared to the information shown and found it to be in agreement, unless otherwise stated. Such compared information was deemed to be in agreement if differences were within the materiality threshold.

•

The term “recomputed” means recalculated and compared the result to the information shown and found it to be in agreement, unless otherwise stated. Such recomputed information was deemed to be in agreement if differences were within the materiality threshold.

•

The term “materiality threshold” means that dollar amounts and percentages were within $1.00 and 0.1%, respectively, unless otherwise stated.

•

The term “Solar Asset Contract” means the solar power purchase agreement, solar lease agreement, and/or change order documentation thereto.

•

The term “Initial Asset Schedule” means an electronic file entitled “Sunrun Xanadu 2019-1 Data Tape (2019.01.31).xlsx,” provided by the Company on January 31, 2019, containing the Contract ID’s for 13,696 of the Solar Assets.

•

The term “Supplemental Asset Schedule” means an electronic data file entitled “Sunrun Xanadu 2019-1 Data Tape (2019.02.15) - XXXXXX Only.xlsx,” provided by the Company on February 15, 2019, containing the Contract ID’s for 683 of the Solar Assets.¹

•

The term “FICO Schedule” means extracts of the FICO score associated with each Selected Asset (defined below) from the Company’s Servicing System Screenshots, provided by the Company via electronic mail on February 11, 2019, and electronic data files entitled “XXXXXX-1 Credit Data.xlsx” and “XXXXXX-2 Data Tape 2.7.19.xlsx” on February 19, 2019. ¹

KPMG LLP is a Delaware limited liability partnership and the U.S. member

firm of the KPMG network of independent member firms affiliated with

KPMG International Cooperative (“KPMG International”), a Swiss entity.

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•

The term “XXXXXX Asset Schedule” means monthly payment information for all Selected Assets located in XXXXXX contained in two electronic data files, provided by the Company on February 20, 2019, entitled “XXXXXX Sampled Contracts.xlsx” and “2018.09.13 Sunrun Credit and Scheduled Payments.xlsx.” ¹

•

The term “ACH Schedule” means billing type information for each Selected Asset from Company’s Servicing System Screenshots, provided by the Company via electronic mail on February 11, 2019, and in an electronic data file entitled “2019.01.31 Sunrun – SZ – Aging Report with Product Line.xlsx” on February 19, 2019.

•

The term “Installer Schedule” means an electronic data file containing solar panel installer information for each Selected Asset, provided by the Company on February 19, 2019, entitled “XXXXXX External ID Reference Guide (All Portfolios).xlsx.”¹

•

The term “ID Mapping File” means an electronic data file containing a schedule of certain identification numbers for Solar Assets in the Supplemental Asset Schedule, provided by the Company on February 20, 2019, entitled “XXXXXX-2 External ID Map.xlsx.”¹

•

The term “Source Documents” means the following information provided by the Company for each of the Selected Assets:

•

Solar Asset Contract

•

Initial Asset Schedule

•

Supplemental Asset Schedule

•

FICO Schedule

•

ACH Schedule

•

Permission To Operate (“PTO”) Notification (“PTO Notification”)

•

Servicing System Screenshots

•

Engineering, Procurement and Construction Agreement (“EPC Agreement”)

•

Installment Plan

¹	Certain information within the names of these files has been redacted due to confidentiality.

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•

Installer Schedule

•

Performance Based Incentive Contract (“PBI Contract”)

•

XXXXXX Asset Schedule ¹

A.	We were instructed by the Company to randomly select 275 Solar Assets from the Data File (the “Selected Assets”) using the following criteria:

(i)

Select 245 Solar Assets from the Initial Asset Schedule.

(ii)

Select 30 Solar Assets from the Supplemental Asset Schedule.

A listing of the Selected Assets is attached hereto as Exhibit A. For purposes of identification in Exhibit A, we were instructed to display the related Contract ID from the ID Mapping File for the Solar Assets selected from the Supplemental Asset Schedule. For purposes of this procedure, the Company did not inform us as to the basis for how they determined the number of Solar Assets we were instructed to randomly select from the Data File.

For each Selected Asset, we compared or recomputed the attributes listed below in the Data File to or using the corresponding information appearing in the Source Documents. The Specified Parties indicated that the absence of any of the specified Source Documents or the inability to agree the indicated information from the Data File to the Source Documents, utilizing methodologies and instructions provided by the Company (as applicable), for each of the specified attributes indicated below, constituted an exception. The Source Documents are listed in the order of priority until such attribute was agreed.


Attribute		Source Documents/Methodologies/Instructions

Contract ID		Servicing System Screenshots

State of Contract		Solar Asset Contract, EPC Agreement

Product Type		Solar Asset Contract

Zip Code		Solar Asset Contract, EPC Agreement

¹	Certain information within the names of these files has been redacted due to confidentiality.

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Attribute		Source Documents/Methodologies/Instructions

In-Service Date (PTO Date)		PTO Notification

		For purposes of this procedure, the Company instructed us to consider the PTO Date to be in agreement if it was within 5 days after the date on the PTO Notification.

System Size (kW)		EPC Agreement, Installment Plan

Electrical Utility		PTO Notification, Solar Asset Contract

Original Term (months)		Solar Asset Contract

Yr 1 Monthly Payment		Solar Asset Contract, XXXXXX Asset Schedule ¹

FICO Score		FICO Schedule

Contract Type		Solar Asset Contract

Customer Upfront Payment ($)		Solar Asset Contract

First Payment Due Date		Recompute as In-Service Date (PTO Date) plus 2 months.

		For purposes of this procedure, the Company instructed us to consider the First Payment Due Date to be in agreement if it was within 5 days of the date on the PTO Notification plus 2 months.

Last Payment Due Date		Recompute as First Payment Due Date plus Original Term.

		For purposes of this procedure, the Company instructed us to consider the Last Payment Due Date to be in agreement if it was within 5 days of the date on the PTO Notification, plus two months, plus Original Term.

Payment Frequency		Solar Asset Contract

# of Months Since PTO (Seasoning)		Recompute as the difference between PTO Date and the Cut-off Date in months.

Remaining Term of Contract (months)		Recompute as the difference between Original Term and # of Months Since PTO (Seasoning).

¹	Certain information within the names of these files has been redacted due to confidentiality.

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Attribute		Source Documents/Methodologies/Instructions

Price per kWh		Solar Asset Contract

		In the event the Contract Type was listed as “Balanced,” we were instructed by the Company to recompute as the product of Yr 1 Monthly Payment multiplied by 12, divided by the Contracted Annual Production (kWh).

		For purposes of this procedure, the Company instructed us to consider the Price per kWh to be in agreement if it was within $0.01.

		For Select Asset Numbers 209 and 213, the Company instructed us that the Price per kWh is stated on a post-tax basis on the Solar Asset Contract, but recorded in the Data File on a pre-tax basis. When recomputing the Price per kWh for these Select Asset Numbers, the Company instructed us to use the Yr 1 Monthly Payment multiplied by 12 minus the annual tax payment, divided by the Contracted Annual Production (kWh).

Monthly Payment / Price per kWh Escalator (%)		Solar Asset Contract

Contracted Annual Production (kWh)		Solar Asset Contract

		For purposes of this procedure, the Company instructed us to consider the Contracted Annual Production (kWh) to be in agreement if it was within 3.5%.

Stepdown Product Flag (Y/N)		Servicing System Screenshots

Monthly Payment After Stepdown($)		Servicing System Screenshots

		We were instructed by the Company to only perform this procedure if the Stepdown Product Flag was “Y.”

Total Guaranteed Production (kWh)		Solar Asset Contract

		For purposes of this procedure, the Company instructed us to consider the Total Guaranteed Production (kWh) to be in agreement if it was within 3.5%.

Contracted Generation Guaranteed (%)		Solar Asset Contract

Performance Guarantee (PeGu) Method		Solar Asset Contract

ACH Payment (Y/N)		ACH Schedule

Installer		EPC Agreement, Installment Plan, Installer Schedule

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Attribute		Source Documents/Methodologies/Instructions

Solar Panel Manufacturer		EPC Agreement, Installment Plan

Inverter Manufacturer		EPC Agreement, Installment Plan

Battery Manufacturer		EPC Agreement, Installment Plan

Performance Based Incentive (PBI) Rate		PBI Contract For purposes of this procedure, the Company instructed us to consider the PBI Rate to be in agreement if it was within $0.01.

Performance Based Incentive (PBI) Term		PBI Contract

Sunrun Originated Asset (Y/N)		Solar Asset Contract

We found the information listed in the Data File to be in agreement with the corresponding information in the respective Source Documents, except as listed in Exhibit B attached hereto.

There were no conclusions that resulted from the procedures.

This agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants. We were not engaged to, and did not, conduct an examination or review, the objective of which would be the expression of an opinion or conclusion, respectively, on the specified attributes identified by the Company in the Data File. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.

The procedures performed were applied based on the information indicated in the Data File, Source Documents, and instructions and methodologies provided by the Company, without verification or evaluation of such information, instructions, and methodologies by us; therefore, we express no opinion or any other form of assurance regarding (i) the physical existence of the Solar Assets, (ii) the reasonableness of the information and instructions provided by the Company (iii) the reliability or accuracy of the Source Documents which were used in our procedures, or (iv) matters of legal interpretation.

The procedures performed were not intended to address, nor did they address: (i) the conformity of the origination of the Solar Assets to stated underwriting or credit extension guidelines, standards, criteria, or other requirements, (ii) the value of collateral securing any such Solar Asset being securitized, (iii) the compliance of the originator of the Solar Asset with federal, state, and local laws and regulations, or (iv) any other factor or characteristic of the Solar Assets that would be material to the likelihood that the issuer of the asset-backed security will pay interest and principal in accordance with applicable terms and conditions. The procedures performed were not intended to satisfy any criteria for due diligence published by a nationally recognized statistical rating organization (“NRSRO”).

The terms of our engagement are such that we have no obligation to update this report because of events and transactions that may subsequently occur.

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This report is intended solely for the information and use of the Specified Parties. It is not intended to be and should not be used by any other person or entity, including investors and NRSROs, who are not identified in the report as Specified Parties but who may have access to this report as required by law or regulation.

/s/ KPMG LLP

McLean, VA

April 30, 2019

Exhibit A

The Selected Assets


Selected Asset Number		Contract ID
1		10538
2		15726
3		13843
4		39541
5		1083758709
6		11197
7		11966
8		34299
9		1793792681
10		43657
11		2033338918
12		8779
13		32882
14		28028
15		37131
16		2663
17		1494744427
18		2113590837
19		12569
20		41275
21		1628012100
22		34719
23		13446
24		42987
25		47187
26		9199
27		11972
28		29387
29		38694
30		15456


Selected Asset Number		Contract ID
31		9895
32		3904
33		37463
34		1963412858
35		9752
36		12634
37		13664
38		6642
39		26611
40		25170
41		3686
42		42313
43		24958
44		3076
45		32503
46		3962
47		39248
48		24952
49		12385
50		39119
51		42229
52		36661
53		1103756417
54		1976252713
55		13416
56		9061
57		33386
58		33396
59		40364
60		8671


Selected Asset Number		Contract ID
61		1658509480
62		44225
63		6632
64		3893
65		25852
66		25612
67		38666
68		4191
69		15044
70		45647
71		89
72		3553
73		15850
74		39899
75		30138
76		3634
77		4715
78		1129851612
79		43784
80		35107
81		1363120854
82		179
83		42473
84		41876
85		25587
86		3451
87		40718
88		1513847879
89		39325
90		27875


Selected Asset Number		Contract ID
91		4382
92		2049144417
93		38534
94		13921
95		1143266927
96		15755
97		39566
98		7290
99		9735
100		1412930025
101		1180830439
102		40923
103		38932
104		23836
105		10515
106		24027
107		30175
108		38334
109		40619
110		3265
111		40506
112		42639
113		38917
114		9551
115		1046585945
116		30904
117		10760
118		4103
119		33693
120		10395

Exhibit A

The Selected Assets


Selected Asset Number		Contract ID
121		30307
122		37626
123		1940386610
124		44497
125		34175
126		2978
127		30355
128		1101814810
129		3152
130		41473
131		2399
132		97
133		29394
134		41699
135		40106
136		42819
137		11837
138		37378
139		12048
140		41862
141		40640
142		24091
143		25192
144		36633
145		36567
146		1439217431
147		1312493031
148		31643
149		4757
150		12700


Selected Asset Number		Contract ID
151		8676
152		22008
153		1337425590
154		2966
155		1300996174
156		1855832544
157		42528
158		1539403084
159		1999009085
160		45158
161		1920624313
162		10609
163		2122031294
164		4069
165		14759
166		8856
167		8989
168		13785
169		11915
170		34469
171		1907705390
172		1563035589
173		3244
174		42933
175		27159
176		39554
177		1785070016
178		1236930528
179		29727
180		4944


Selected Asset Number		Contract ID
181		3651
182		34628
183		16225
184		32166
185		45212
186		33289
187		14720
188		12856
189		45115
190		10444
191		42731
192		13088
193		9872
194		41482
195		10792
196		31274
197		3797
198		41129
199		12295
200		31859
201		1241546204
202		1564151768
203		1793675112
204		8499
205		1623293449
206		45522
207		31740
208		32926
209		1225025757
210		12647


Selected Asset Number		Contract ID
211		12397
212		28387
213		1282580231
214		43043
215		31037
216		20840
217		22816
218		44174
219		13156
220		29692
221		26504
222		1886698411
223		3487
224		31556
225		36003
226		38628
227		4911
228		4399
229		12999
230		13745
231		39528
232		8469
233		4758
234		39229
235		39930
236		4042
237		5004
238		41268
239		45364
240		45624

Exhibit A

The Selected Assets


Selected Asset Number		Contract ID
241		33252
242		25500
243		40662
244		27344
245		25362
246		1766148583
247		1507417158
248		1261579553
249		1417311053
250		1423582786
251		1212175737
252		1113058380
253		1381115247
254		1288885737
255		1046772163
256		2096420757
257		1879569449
258		1526912372
259		1918673782
260		1238561947
261		1552541301
262		1986023171
263		2104287933
264		1890165603
265		1095467105
266		2098188201
267		1321033662
268		2094275999
269		1165456884
270		1382613400


Selected Asset Number		Contract ID
271		1733805561
272		1154205667
273		1550476546
274		1968106362
275		1341919224

Exhibit B

Exceptions List


Selected Asset Number	Contract ID	Attribute	Per Data File	Per Source Document
21 ^A	1628012100	PBI Rate ($)	0.039	Unavailable
21^A	1628012100	PBI Term	6	Unavailable
28^B	29387	Solar Panel Manufacturer	Trina	LG
30^B	15456	Contracted Generation Guaranteed (%)	95	100
71^A	89	In-Service Date (PTO Date)	7/11/2008	Unavailable
71^A	89	First Payment Due Date	9/11/2008	Unavailable
71^A	89	Last Payment Due Date	9/11/2026	Unavailable
71^A	89	# of Months Since PTO (seasoning)	126	Unavailable
71^A	89	Remaining Term of Contract (months)	90	Unavailable
71^A	89	Electrical Utility	SCE	Unavailable
77^B	4715	Customer Upfront Payment ($)	0	250
94^B	13921	PeGu Method	2	3
110^B	3265	Inverter Manufacturer	SMA	SunPower
114^B	9551	Price per kWh ($)	0.24	0.25
165^B	14759	Contracted Generation Guaranteed (%)	95	100
165^B	14759	Contract Type	Generation	Balanced
165^B	14759	Yr 1 Monthly Payment ($)	Generation	143
167^B	8989	Yr 1 Monthly Payment ($)	Generation	127
167^B	8989	Contract Type	Generation	Balanced
168^B	13785	PeGu Method	2	3
181^B	3651	Yr 1 Monthly Payment ($)	Generation	114
181^B	3651	Contract Type	Generation	Balanced
183^B	16225	Yr 1 Monthly Payment ($)	Generation	75
183^B	16225	Contract Type	Generation	Balanced
183^D	16225	PeGu Method	2	NA
183^D	16225	Total Guaranteed Production (kWh)	105,790	100,500
200^B	31859	Total Guaranteed Production (kWh)	134,530	12,7804
219^B	13156	PeGu Method	2	3
222^C	1886698411	Price per kWh ($)	0.18	0.19
227^B	4911	Installer	Real Goods	Akeena Solar

Exhibit B

Exceptions List


Selected Asset Number	Contract ID	Attribute	Per Data File	Per Source Document
227 ^B	4911	Price per kWh ($)	0.16	0.18
229 ^B	12999	PeGu Method	2	3
233 ^B	4758	In-Service Date (PTO Date)	10/1/2010	10/5/2010
238 ^B	41268	System Size (kW)	5.82	5.76
246 ^B	1766148583	Installer	Sungrade Solar	Quick Systems
267 ^A	1321033662	In-Service Date (PTO Date)	4/3/2012	Unavailable
267 ^A	1321033662	First Payment Due Date	6/3/2012	Unavailable
267 ^A	1321033662	Last Payment Due Date	6/3/2032	Unavailable
267 ^A	1321033662	# of Months Since PTO (seasoning)	81	Unavailable
267 ^A	1321033662	Remaining Term of Contract (months)	159	Unavailable
251 ^B	1212175737	Total Guaranteed Production (kWh)	257,270	272,398

^A	KPMG was unable to perform the procedure for this attribute for the Selected Asset as the Source Document(s) were not available.

^B	KPMG was informed by the Company that the Company researched the differences identified for this attribute for the Selected Asset and confirmed that manual errors were made during data entry.

^C	KPMG was informed by the Company that the Selected Asset was originated by a third-party and the attribute data contained in the Data File was provided by the third-party.

^D	KPMG was informed by the Company that the Company researched the differences identified for this attribute for the Selected Asset and confirmed that the Source Document was generated incorrectly.