Electricity is essential for the development of a nation. With the increase in population and life styles electricity demand is growing continuously. There is need to meet the increased energy demand without affecting the reliability and quality of supply. In present scenario the supply- demand gap is widening, the power generation capacity has to be increased with more environmental constraints. There is an urgent need to generate the more electricity from green energy sources for mitigating the climate change problem and also for conserve the conventional fuel reserves. In present power system configuration, electricity is being transferred to the consumers through the transmission & distribution networks at specified voltage and frequency from remotely located centralized power plants.

The transmission networks are designed smartly and operate in well intelligent manner, however the distribution networks are designed only for unidirectional flow of power. The availability of green energy sources are basically found in distributed manner. The distribution networks are not designed to integrate distributed generators, storage devices and electric vehicles etc. To ensure the reliability, and the power quality, there is need to operate the distributed generators in coordination with the grid, there is another drawback of green energy sources that the electricity generation is intermittent in nature. There are many power plants based on coal, hydro, gas, nuclear, wind and solar etc. but still there is a wide demand-supply gap around the world. The energy demand & supply gap in the coming years will change considerably with the change in economy of the countries in the world. There is need to develop a model for affordable, clean and reliable electricity to the consumers, in which consumers can play active role to meet the energy demand and also to mitigate the green house gas emissions.

Representative APR 391%. Average APR for this type of loans is 391%. Let's say you want to borrow $100 for two week. Lender can charge you $15 for borrowing $100 for two weeks. You will need to return $115 to the lender at the end of 2 weeks. The cost of the $100 loan is a $15 finance charge and an annual percentage rate of 391 percent. If you decide to roll over the loan for another two weeks, lender can charge you another $15. If you roll-over the loan three times, the finance charge would climb to $60 to borrow the $100.

Implications of Non-payment: Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

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