We present an article by Vardan Jhanyan, President of the Union of Miners and Metallurgists of Armenia, First Deputy General Director of the Zangezur Copper and Molybdenum Combine (ZCMC), in which he addresses the energy sector as an economist and business management expert. Vardan JhanyanEnergy has always been the cornerstone of countries’ development in modern era, as evidenced by a number of historical and modern references.The example of Great Britain of the 19th century proves that energy was the driving force that transformed the country into an industrial leader and global superpower. Coal energy and the development of steam engines laid the foundation for the country’s economic and military dominance. The industrial revolution in any country and the transformation of the country into a superpower were possible only due to cheap domestic energy in huge quantities.The same happened in the United States in the 20th century, when it surpassed the British Empire as a global superpower. The United States experienced the oil revolution, followed by the internal combustion engine revolution, becoming the pillar of the country’s military and economic power. Although today the United States appears to be losing this role in competition with China, obviously, economic revolutions cannot be complete without energy transformation, this time the green energy revolution.The exponential growth of solar and wind power and the general electrification of China is a new energy revolution, the third one since the first industrial revolution. China is proving that it is not only an industrial superpower, but also a pioneer of the new energy revolution and the creator of an unsurpassed industrial monopoly in renewable energy. The Chinese government is leading the country towards green energy and independence from imported fossil fuels. This approach is part of China’s overall economic policy of “security and abundance”. The speed with which China is implementing these programs is fantastic. Every year, more wind and solar power plants are being put into operation there than in all other countries combined. More than half of new cars are already electric. All countries will strive to follow China’s lead, as this next energy revolution will leave no alternative to renewable energy. Of course, these countries will achieve varying degrees of success and speed in their energy transition.These examples show that energy is more than just a resource; it can be an instrument of national dominance, security, and influence. Proper management of energy resources can become a guarantee of economic progress, national security, and global influence for great powers, and the foundation for energy independence and economic development for small countries. By the way, it is noteworthy that China has been expanding its presence in the mining industry for several decades to ensure the supply chain necessary for energy transition. Last year, Chinese investments in the global mining industry, both domestically and globally, exceeded the $20 billion mark, and about 30% of global mining output already belongs to Chinese companies.Armenia is a small country, and despite having both the necessary resources and rich solar and hydropower potential it is still unable to sufficiently utilize their opportunities. The energy system is still largely dependent on imported gas and other fossil fuels (gasoline, diesel fuel) from one country, which not only makes energy security vulnerable, but also hinders economic stability and causes major environmental problems.Chile is also an interesting example to learn from. The country is not rich in natural energy resources and uses its geographical opportunities, transforming into a successful model of renewable energy. Solar and wind energy provided 20% and 14% of Chile’s national electricity generation respectively, and 22% was generated by hydropower plants, registering significant growth rates. The Chilean model could be used in Armenia, given that the two countries have similar characteristics in terms of social, geographic and mining potential. Despite having basic similarities we are still far behind Chile. For example, if we compare the specific weight of the volume of hydroelectric power plant production in Armenia to Chile’s indicators, Armenia is twice as far behind in terms of solar energy, and we practically do not use wind energy. Unlike Chile, there are no energy storage programs in Armenia at all.It is noteworthy that, unlike Chile and China, Armenia, unfortunately, is currently not fully utilizing its mining resource potential, which could indirectly open up opportunities for investments in the sphere of energy transition.Armenia can and should use its solar, wind and hydropower potential, combining state, private and international efforts. Having a natural and perfect hyperaccumulator like Sevan, Armenia already has a huge advantage over its neighbors, which can ensure full stability for the new energy system.The development of renewable energy will not only reduce Armenia’s energy dependence, but will also become the basis for economic development and regional leadership. A country that has ambitions to increase its regional and global role must have something to offer. It could be green, affordable electricity, which the European continent badly needs. What practical steps have been taken in this direction? Do we have the courage and commitment to create new energy and a secure and abundant economy?Today, Armenia faces a historic choice: to continue to depend on imported fossil fuels or to use its natural resources to become a stable, self-sufficient and energy independent country, with abundant, cheap, secure and independent energy not only for domestic consumption but for export as well. History shows that energy can become not only a driving force of the economy, but also an important component of national security and regional influence. It is time for Armenia to fully seize these opportunities, making renewable energy the foundation for its development. Tweet Views 10137