Mosaic announced the launch of PowerSwitch 6, the next generation of home solar loans. PowerSwitch 6 bundles together several new features designed to improve solar installers’ cash flow, streamline processing, expand their markets, and lower their customer acquisition costs. The PowerSwitch 6 suite offers two loan structures—PowerSwitch CHOICE and PowerSwitch PLUS—which complement Mosaic’s home improvement loan. The existing loan offering, renamed PowerSwitch CHOICE, is a solution for customers looking to add solar or solar and batteries to their home and take advantage of the 30% Federal tax credit to pay down their loan during the first 18 months. The new loan structure, PowerSwitch PLUS, provides a loan amortization schedule designed for customers who don’t expect to receive a tax credit or who want to re-roof or make other energy efficiency improvements on their home at the same time as adding solar or solar and batteries, with payments reassessed at 18 months to reward any principal repayments.
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