EX-99.1

Exhibit 99.1

Independent Accountants’ Report on Applying Agreed-Upon Procedures

Sunrun Inc. (the “Company”)

Deutsche Bank Securities Inc.

(together, the “Specified Parties”)

Re: Sunrun Demeter Issuer 2021-2, LLC – Data File Procedures

We have performed the procedures described below on the specified attributes in an electronic data file entitled “Demeter 2021 Data Tape (08.15.2021).xlsx,” provided by the Company on August, 15, 2021, containing information on 34,068 solar assets (the “Solar Assets”) as of July 12, 2021 (the “Data File”), which we were informed are intended to be included as collateral in the offering by Sunrun Demeter Issuer 2021-2, LLC. The Company is responsible for the specified attributes identified by the Company in the Data File.

Specified Parties have agreed to and acknowledged that the procedures performed are appropriate to meet their intended purpose of assisting specified parties in evaluating the accuracy of the specified attributes in the Data File. This report may not be suitable for any other purpose. No other parties have agreed to or acknowledged the appropriateness of these procedures for the intended purpose or any other purpose.

The procedures performed may not address all the items of interest to a specified party of this report and may not meet the needs of all specified parties of this report and, as such, specified parties are responsible for determining whether the procedures performed are appropriate for their purposes. We make no representation regarding the appropriateness of the procedures either for the intended purpose or for any other purpose.

Unless otherwise stated, 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 reporting 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 reporting threshold.

•

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

•

The term “Solar Asset Contracts” means the solar power service agreement, solar facility addendum contract, solar lease agreement, change order documentation, and/or lease agreement disclosure thereto. The Solar Asset Contracts were represented by the Company to be either the original Solar Asset Contracts, a copy of the original Solar Asset Contracts, and/or electronic records contained within the Company’s servicing system. We make no representation regarding the validity or accuracy of these contracts or the execution of the Solar Asset Contracts by the borrower.

•

The term “FICO Support” means extracts of the credit report scores associated with each Selected Asset provided by the Company on August 10, 2021.

•

The term “ACH Support” means billing type information associated with each Selected Asset provided by the Company on August 10, 2021.

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•

The term “PTO Notification” means the notice provided by the Company for each Selected Asset identifying the date on which the utility provider confirmed the Selected Asset was granted permission-to-operate (PTO) on the electrical grid.

•

The term “PBI Support” means performance-based incentive contracts associated with each Selected Asset provided by the Company on August 17, 2021.

•

The term “Source Documents” means the Solar Asset Contracts, FICO Support, ACH Support, PTO Support and PBI Support.

•

The term “Instructions” means the instructions provided by the Company pertaining to a procedure, attribute, methodology, or value, as described in Exhibit A.

•

The term “Provided Information” means the Source Documents and Instructions.

The procedures we were instructed by the Company to perform and the associated findings are as follows:

We randomly selected a sample of 300 Solar Assets from the Data File (the “Selected Assets”). A listing of the Selected Assets is attached hereto as Exhibit B. For purposes of this procedure, the Company did not inform us of the basis they used to determine the number of Solar Assets we were instructed to randomly select from the Data File.

For each Selected Asset, we compared or recomputed the specified attributes listed below to or using the corresponding information included in the Source Documents, utilizing the Instructions, as applicable. The Specified Parties indicated that the absence of any of the information in the Source Documents or the inability to agree the indicated information from the Data File to the Source Documents, utilizing the Instructions as applicable, constituted an exception. The Source Documents are listed in the order of priority.


Attribute		Source Documents
Contract ID		Solar Asset Contracts

Contract Type		Solar Asset Contracts

Contract State		Solar Asset Contracts

Original Term (Months)		Solar Asset Contracts

Base Monthly Payment		Solar Asset Contracts, Instructions

Price per kWh		Solar Asset Contracts, Instructions

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

Contracted Annual Production		Solar Asset Contracts, Instructions

Contracted Generation Guaranteed (%)		Solar Asset Contracts

System Size (kW)		Solar Asset Contracts, Instructions

Electrical Utility		Solar Asset Contracts

Solar Panel Installer		Solar Asset Contracts

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Attribute		Source Documents
Solar Panel Manufacturer		Solar Asset Contracts

Inverter Manufacturer		Solar Asset Contracts, Instructions

Battery Manufacturer		Solar Asset Contracts

Product Type		Solar Asset Contracts, Instructions

ACH Payment (Y/N)		ACH Support

FICO Score		FICO Support, Instructions

In-Service Date (PTO Date)		PTO Notification, Instructions

Performance Based Incentive (PBI) Rate		PBI Support, Instructions

Performance Based Incentive (PBI) Term		PBI Support, Instructions

Total Guaranteed Production (kWh)		Solar Asset Contracts, Instructions

Performance Guarantee (PeGu) Method		Solar Asset Contracts

First Payment Due Date		Instructions

Remaining Term of Contract (Months)		Instructions

We found such information to be in agreement except as listed in Exhibit C.

We were engaged by the Company to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants, which involves us performing the specific procedures agreed to and acknowledged above and reporting on findings based on performing those procedures. 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 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.

We are required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.

The procedures performed were applied based on the information included in the Data File and Provided Information, without verification or evaluation of such information by us; therefore, we express no opinion or any other form of assurance regarding (i) the reasonableness of the information provided to us by the Company, (ii) the physical existence of the Solar Assets, (iii) the reliability or accuracy of the Provided Information which was 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 Assets being securitized, (iii) the compliance of the originator of the Solar Assets 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 Notes 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 the nationally recognized statistical rating organizations (“NRSROs”).

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

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 or the NRSROs, who are not identified in the report as the Specified Parties but may have access to this report as required by law or regulation.

/s/ KPMG LLP

Irvine, California

September 13, 2021

Exhibit A

Instructions


Number	Attribute	Instructions

1.	Base Monthly Payment	For Selected Assets with a Contract Type of “PREPAID,” consider the attribute to be in agreement if Data File value is not populated.

2.	Price per kWh	For Selected Assets with a Contract Type of either “PREPAID” or “LEASE,” consider the attribute to be in agreement if Data File value is not populated.

3.	Contracted Annual Production	Consider the attribute to be in agreement if it is within the range of —1 kWh to +1 kWh of the Source Document value.

4.	System Size (kW)	Consider the attribute to be in agreement if it is within the range of —2% to 15% of the Source Document value.

5.	Inverter Manufacturer	For Selected Assets for which the Data File value is not populated, obtain Inverter Manufacturer from “Demeter 2021 Data Tape (08.24.2021)_Inverters.xlsx” provided by the Company on August 25, 2021. For Selected Assets with a Data File value of either “ABB” or “Power-One,” consider the attribute to be in agreement if Source Document value is either “Power-One” or “ABB.” ABB acquired Power-One in July 2013.

6.	Product Type	For Selected Assets use “Brightbox” as the Source Documents value if a battery listed in the Source Documents else use “Standard.”

7.	FICO Score	Do not perform this procedure for Selected Assets with a non—numerical Source Document value.

8.	In-Service Date (PTO Date)	For Selected Assets for which the Data File value is not populated, use Actual or Estimated PTO Date (ACT_OR_EST_PTO column) as Data File value. For these assets, recompute the attribute using Installation Date (INSTALL_DATE column) plus 4 months. If 4 months have passed since Installation Date, use September 30, 2021. Consider the attribute to be in agreement if it is within 15 days of the Data File value.

9.	Performance Based Incentive (PBI) Rate	For Selected Assets with a Contract State of “NJ” for which PBI exists, use New Jersey’s Clean Energy’s website (provided below) to look up the PBI Rate. https://njcleanenergy.com/renewable-energy/program-updates-and-background-information/solar-transition-frequently-asked-questions

10.	Performance Based Incentive (PBI) Term	For Selected Assets with a Contract State of “NJ” for which PBI exists, use New Jersey’s Clean Energy’s website (provided below) to look up the PBI Term. https://njcleanenergy.com/renewable-energy/program-updates-and-background-information/solar-transition-frequently-asked-questions Do not perform this procedure for Selected Assets with PBI Rate of 0.00%.

A-1

Exhibit A

Instructions



11.	Total Guaranteed Production (kWh)	Consider the attribute to be in agreement if it is within the range of —2% to 15% of the Source Document value.

12.	First Payment Due Date	Recompute as PTO Date plus 2 months

13.	Remaining Term of Contract (Months)	Recompute as the difference between Original Term and Seasoning (Months). Recompute Seasoning (Months) as difference between PTO Date and July 12, 2021. Consider the attribute to be in agreement if it is within 1 month of the Data File value.

A-2

Exhibit B

The Selected Assets


Selected Asset Number		Contract ID			Selected Asset Number		Contract ID			Selected Asset Number		Contract ID
	1		56	***		41		1195775	***		81		1449414	***
	2		1640222	***		42		1506739	***		82		1400234	***
	3		1392484	***		43		1198560	***		83		1370955	***
	4		62	***		44		2120914	***		84		1618882	***
	5		1591114	***		45		2044784	***		85		2027076	***
	6		1178138	***		46		1694412	***		86		1525768	***
	7		1827228	***		47		1048363	***		87		2004027	***
	8		2106699	***		48		1080895	***		88		1479088	***
	9		1968901	***		49		1620244	***		89		1119942	***
	10		68	***		50		1118395	***		90		1388232	***
	11		1317121	***		51		1028474	***		91		1462640	***
	12		1430372	***		52		1660247	***		92		1872776	***
	13		1849448	***		53		2048710	***		93		1118909	***
	14		2077184	***		54		1285025	***		94		49	***
	15		1319212	***		55		51	***		95		1182700	***
	16		1489429	***		56		1678369	***		96		1607824	***
	17		2115492	***		57		2004871	***		97		1817082	***
	18		1374836	***		58		1492762	***		98		68	***
	19		55	***		59		1924584	***		99		1044655	***
	20		1322285	***		60		2035731	***		100		1466589	***
	21		1590686	***		61		2033712	***		101		56	***
	22		1489512	***		62		1568390	***		102		58	***
	23		1811635	***		63		1779538	***		103		2021225	***
	24		1898176	***		64		1540430	***		104		1597030	***
	25		1207691	***		65		49	***		105		2003116	***
	26		1481627	***		66		2008068	***		106		1674723	***
	27		50	***		67		1717307	***		107		1465365	***
	28		2133085	***		68		1134637	***		108		1339005	***
	29		56	***		69		1693834	***		109		2082302	***
	30		1610109	***		70		1160869	***		110		1968514	***
	31		1441227	***		71		53	***		111		50	***
	32		65	***		72		51	***		112		1869518	***
	33		1373395	***		73		1034051	***		113		57	***
	34		1716826	***		74		1454304	***		114		55	***
	35		1180476	***		75		1156058	***		115		1620332	***
	36		1153980	***		76		1310687	***		116		1301970	***
	37		2083172	***		77		1176438	***		117		1155397	***
	38		1248423	***		78		1839275	***		118		1957723	***
	39		1626006	***		79		44	***		119		1287387	***
	40		55	***		80		1649725	***		120		2118991	***

B-1

Exhibit B

The Selected Assets


Selected Asset Number		Contract ID			Selected Asset Number		Contract ID			Selected Asset Number		Contract ID
	121		2017992	***		161		1036761	***		201		52	***
	122		1188310	***		162		53	***		202		2041329	***
	123		1831116	***		163		1131103	***		203		2083866	***
	124		64	***		164		2021945	***		204		1613461	***
	125		1627264	***		165		1172466	***		205		1401646	***
	126		1602804	***		166		1422176	***		206		1074735	***
	127		1978594	***		167		1387547	***		207		2028495	***
	128		1698214	***		168		2080337	***		208		1279995	***
	129		1663293	***		169		53	***		209		1922230	***
	130		1685953	***		170		1290763	***		210		62	***
	131		1970388	***		171		1742542	***		211		1584354	***
	132		1107198	***		172		1365209	***		212		1555740	***
	133		1537375	***		173		2097386	***		213		2019771	***
	134		1250818	***		174		2050221	***		214		1701006	***
	135		2108043	***		175		2017491	***		215		52	***
	136		1469622	***		176		1064269	***		216		48	***
	137		1605388	***		177		2129046	***		217		1920199	***
	138		1181877	***		178		1343125	***		218		47	***
	139		1306396	***		179		2075637	***		219		1399095	***
	140		54	***		180		1248291	***		220		41	***
	141		1119083	***		181		51	***		221		1034508	***
	142		1328803	***		182		42	***		222		1316189	***
	143		51	***		183		58	***		223		56	***
	144		1975071	***		184		55	***		224		1923387	***
	145		1835770	***		185		1498012	***		225		2090837	***
	146		44	***		186		1096667	***		226		1591493	***
	147		1972467	***		187		54	***		227		49	***
	148		1582725	***		188		1212369	***		228		57	***
	149		1266507	***		189		1653897	***		229		1861178	***
	150		1104375	***		190		1156276	***		230		1773912	***
	151		1123946	***		191		1785260	***		231		1163347	***
	152		1573239	***		192		1416980	***		232		1892992	***
	153		1560322	***		193		1015409	***		233		1527214	***
	154		55	***		194		57	***		234		1022114	***
	155		1512519	***		195		1486524	***		235		1012596	***
	156		1535954	***		196		2049002	***		236		1158975	***
	157		1609079	***		197		1965379	***		237		1936734	***
	158		2002006	***		198		1886150	***		238		1345536	***
	159		2088076	***		199		1867834	***		239		1905444	***
	160		1241707	***		200		1482299	***		240		1049569	***

B-2

Exhibit B

The Selected Assets


Selected Asset Number		Contract ID			Selected Asset Number		Contract ID
	241		1333951	***		271		2000626	***
	242		1102323	***		272		1135336	***
	243		1933582	***		273		57	***
	244		1199242	***		274		1846064	***
	245		2146663	***		275		63	***
	246		1778862	***		276		1701221	***
	247		47	***		277		1140378	***
	248		1767471	***		278		1583317	***
	249		2096709	***		279		1549741	***
	250		2043866	***		280		51	***
	251		1246784	***		281		1161049	***
	252		56	***		282		1150867	***
	253		1535638	***		283		1799924	***
	254		1378045	***		284		56	***
	255		48	***		285		1685455	***
	256		1426076	***		286		1130071	***
	257		1791308	***		287		1600809	***
	258		1710695	***		288		1334543	***
	259		1450004	***		289		1961879	***
	260		1582110	***		290		1978131	***
	261		54	***		291		2067499	***
	262		1224514	***		292		1763497	***
	263		58	***		293		1588631	***
	264		1069444	***		294		1251108	***
	265		1058963	***		295		1361331	***
	266		2130748	***		296		1041432	***
	267		1246032	***		297		2008853	***
	268		1619362	***		298		2060934	***
	269		1836611	***		299		52	***
	270		47	***		300		51	***

B-3

Exhibit C

Exceptions


Selected Asset Number	Contract ID			Attribute/Procedure	Per Data File	Per Source Documents
4		62	***	Performance Guarantee (PeGu) Method	Biennial	Annual
8		2106699	***	Performance Guarantee (PeGu) Method	Biennial	Annual
11		1317121	***	Performance Guarantee (PeGu) Method	Biennial	Annual
23		1811635	***	Performance Guarantee (PeGu) Method	Biennial	Annual
26		1481627	***	Performance Guarantee (PeGu) Method	Biennial	Annual
51		1028474	***	Performance Guarantee (PeGu) Method	Biennial	Annual
99		1044655	***	Performance Guarantee (PeGu) Method	Biennial	Annual
231		1163347	***	Performance Guarantee (PeGu) Method	Biennial	Annual
233		1527214	***	Performance Guarantee (PeGu) Method	Biennial	Annual
263		58	***	Performance Guarantee (PeGu) Method	Biennial	Annual
272		1135336	***	Performance Guarantee (PeGu) Method	Biennial	Annual
284		56	***	Performance Guarantee (PeGu) Method	Biennial	Annual
53		2048710	***	Performance Guarantee (PeGu) Method	Biennial	Annual
57		2004871	***	Performance Guarantee (PeGu) Method	Biennial	Annual
236		1158975	***	Performance Guarantee (PeGu) Method	Biennial	Annual

C-1