With the recently-announced slash in the extra-storage price of its photo-sharing site Picasa Web Albums, Google now offers cheaper extra cloud storage, over and above the 1GB free photo and video storage space.

The reduced over-the-free-limit storage cost now ranges from an annual $5 for 20GB to $4,096 per year for a whopping 16TB (terabytes).

Noting that the cost-reduction will make extra storage "even more affordable," programmer Elvin Lee said in a blog: "You can now buy 20GB for only $5 a year--that's twice as much storage for a quarter of the old price, and enough space for more than 10,000 full resolution pictures taken with a five megapixel camera. Since most people have less than 10GB of photos, chances are you can now save all your memories online for a year for the cost of a triple mocha."

The reduction in cost of extra storage space clearly indicates that even though Picasa may not be Google's high-priority project, it surely has a notable pulse. Google had, last year, introduced face recognition to the Web site; followed by the offering of free Picasa photo editing software this year. In addition, it also initiated the incorporation of advertisements to the Picasa site this March.

Though Picasa's price cut may be especially appealing to photography enthusiasts, the site still remains way behind Yahoo's Flickr, which is, by far, a more preferred hub of photography activity on the Web!