Google Inc. (NASDAQ:GOOG) software engineer Elvin Lee announced today that the company has dropped the price of 20GB storage between GMail and Picasa to $5 per year. Google currently gives 7.27GB of free storage for GMail and 1GB of free storage for Picasa. Before Google was offering 10GB of storage for $20 per year. For $20 per year now you can buy 80GB worth of storage. I’m highly considering the 80GB option because I have 27GB worth of photos and do not like the way that Facebook decreases the resolution quality when hosting my photos. To add more storage to your account, visit https://www.google.com/accounts/PurchaseStorage.