Drill Storage in the Race Building

Looking for a better solution to the drill storage issue in our race shack I just installed what could be a great solution. Two 2x2s are mounted horizontally on the wall about 12 inches apart. Length depends on the number of drills needed to store. 1-1/2 PVC pipe with a coupler on one end cut long enough to span the 2x2s is then mounted with pipe straps vertically with the coupler end up. The coupler rests on the top 2x2 to keep the pipe from sliding down. Slide in the bit and store your drill. I spaced the pipes about 8 inches apart but could have gone closer together.