And therefore, self-consumption becomes the norm in Germany. No one thinks about exporting solar, right? And that have an 80% attach there. This is going in the same direction, going in the same direction. In Germany, you have grid-tied batteries because power doesn’t go out there much. It goes out maybe once a year. We have grid tied battery. Grid tied batteries means you €“ the installation is simpler, and it is cheaper. I’m not sure whether California will go in that direction. Time will tell because we do have some color. We do have resilience issues as well. But I am sure markets will evolve a little in that direction, too. So bottom line, we are incredibly optimistic. We got the right batteries for it with the third-generation battery.
We got the modularity, which I think will start becoming popular. Grid tied may become popular, but we will be ready to do either grid tied or off grid, on grid with backup. The things that are looking, we like NEM 3.0. Of course, we didn’t like the fact the step down happened right away. But I think in the long-term, it’s an okay decision.
Raghu Belur: One more €“ I will make one more comment to what Badri said. Obviously, the battery is the third generation of our battery is uniquely valuable for €“ in this NEM 3 environment. But in addition, it’s also the optimization engine that we will be running, right. The engine has to in near real time, every hour make a decision on whether it is charging the battery, discharging the battery, managing the load, etcetera. All of that energy management engine becomes extremely valuable and extremely critical. It all begins with the design engine itself. What we have mentioned this, as Badri mentioned it in his script, that design engine, the engine that you run in order to design the system is actually the same engine that you run to actually operate the system.
And so bringing those two pieces together is extremely critical and extremely valuable. And that’s what we are spending a lot of time optimizing our engine and building up the design as well as the operation. And that it starts with the battery and it €“ that software is becoming extremely critical.
Brian Lee: Yes. No, I appreciate the color. Maybe two quick follow-ups. So, the long-term thesis I get, I guess on a shorter to medium-term basis, as you mentioned, Badri, the change is immediate and the industry is still trying to figure it out. So, are you €“ I guess what are you hearing from installers? Are they ready to convert customers, up-sell customers to batteries starting as early as the second half, or are we going to have pretty meaningful friction here until the market figures out the new rules and I guess some of the macro uncertainty, which you even alluded to earlier kind of settles out. And then secondly, if I just look at your numbers, battery volumes for your shipment guidance in Q1 will be down year-on-year for the first time since you guys started breaking that out.
So, batteries all of a sudden don’t look like they are growing for you. What should we be thinking about for the next few quarters into the back half? Like does NEM 3.0 drive growth again, or is this a sort of more uncertain period of battery growth at least in the next couple of quarters until, again, the market kind of figures it out.
