Energy is now required to run highly sophisticated and sensitive gadgets and machines for various individual, social and industrial uses. Besides the new technology has also to contend with environmental constraints putting a cap on emission levels and infrastructural overbuilds. The existing infrastructure and utilities encounter various limitations of designs in loading and life cycles, so much so that the new crop of power engineers find it increasingly difficult to cope with the system and are opting out, underscoring the need for complete overhaul of present methods and usher in new technologies. Smart Grid envisages bold new systems marking a complete shift from the past.

It opts for more open and consumer friendly cultures, doing away with restrictive and monopolized markets and controlled operations. As against large and remote generation plants Smart Grid recognizes the need for small, distributed, renewable energy options such as wind, solar and fuel cell power etc. so that power can be efficiently and directly controlled and new systems are devised to take in to account consumer responses, load variations and price fixation.

Fig1Smart Grid Model
Fig. 1 : Smart Grid (ref.

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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