The Storage Growth Plan needs you as a customer to commit to spending at least $10,000 every month for 12 months of Cloud Storage usage. Then this is a fixed amount you pay each month. No extra charges will be applied as you grow your usage during these 12 months. After these 12 months, you can either choose to commit for the next 12 months or leave the plan. But if you choose to leave the plan, you have to pay for the past year’s overage. And if you go for the former, your overage fee will be free if your peak usage was under 30% of your original commitment and if its above 30% you repay that remainder over the next year.
Google Cloud on its blog announced the Storage Growth Plan for the Google Cloud Storage to help cut the possibility of unexpected bills. All major cloud vendors offer discount pricing if their customers go for one or a three-year contract but with this offering from Google Cloud the discount model is changing.