Attached are a couple Mosaic created marketing material that provide explanations between the differences for their PowerSwitch Zero, PowerSwitch Choice, and PowerSwitch Plus loans.
in summary:
PowerSwitch CHOICE is ideal for homeowners looking to add solar projects to their home and have the CHOICE to take advantage of the Solar Investment Tax Credit. The CHOICE product has an amortization schedule designed for homeowners planning to pay down at least 30% (potentially received by the Solar
Investment Tax Credit or other funds) in the first 18 months. After month 18, payments are adjusted higher if less than 30% is paid, or lower if more than 30% has been paid.
PowerSwitch PLUS is ideal for homeowners who want to add solar PLUS make energy-efficient improvements to their home at the same time. PLUS standard monthly payments remain the same with a one time reamortization occurring at month 18. This loan is ideal for homeowners not wanting to plan around receiving the Federal Solar Tax Credit. However, using extra funds to pay down the loan before month 18 will result in an adjusted lower monthly payment for the
duration of the loan.
PowerSwitch Light is similar to PowerSwitch Choice but it offers a lower monthly payment for the first 18 months of the loan. The lower monthly payment is intended to help broaded the market by offering lower payments allowing potential customers to ease into solar payments. The Light product still has an amortization schedule for homeowners planning to pay down at least 30% of the ITC credit.
PowerSwitch Zero loans allow offer loans that have a 12 or 18 month $0 payment structure. It is kind of a like a "same as cash" structure where as the idea is to be able to pay off their entire loan within the promo period. If not, then they are subject to a normally much higher APR for the specified term of the loan.