New solar grid developed for rural areas

A joint US-Bangladesh company called SOLARIC has developed a grid product for rural areas on a small scale, according to a report by cleantechnica.com.
The company calls it 'Nano-Grid,' which is an inverter-less solar power system with a battery bank, optimiser, and solar PV panels that manages electricity generation and distribution for about 50 homes.
At the same time, 'Nano-Grid' can provide power for irrigation pumps, which are of critical importance for agriculture. Each 'Nano-Grid' also converts electricity produced by solar panels to 220V DC.
Local people can invest in a 'Nano-Grid' system and earn money by selling power to other villagers for a monthly fee.
In other words, an investor could pay for part of a Nano-Grid system and then make about $125 a month by providing electricity to 50 homes locally. In such a case, villagers would not be paying to a large corporation; they would pay a local person who manages the 'Nano-Grid'.