Max Planck's Loader Model - the simplest interpretation that is never looked at.
In the Loader Model atoms have a hidden and random energy state, and a detectable state. The energy of light is spread evenly as waves. And when the energy reaches a threshold the detectable state changes. Photons do not exist. What we see are just detectable jumps of the energy states.
I never heard of it, until I found an experimenter that claimed to find evidence for it. With higher levels of energy than normal light, he found that (more often) two or more atoms can reach a next state, when one quantum of energy is emitted. Other experimenters classify these double-quanta as "noise".
Occham's razor?
Because it is the simplest interpretation, I would like to see more research into this. Maybe there is something to it, or maybe it can reveal some hidden variables in the detectors.
See: www.threshodmodel.com
Note: the experimenter is not a very good communicator and it took me some time to understand what he was explaining.