Thank you for a very informative interview on a vital topic concerning the survival of our Nation. Astghine Pasoyan is a competent level-headed economist and she explained the situation clearly in layman's terms for us all to understand. Mr Elliott, please bring more people like her.
It is such fresh of breath air to listen in the Caucasus , individuals express their thoughts , comments and criticisms freely and with utter liberty , for personally beleive we need liberty and not just Peace , for peace is found all around autocratic regimes with people submitted to tyranny in Peace !!
The government has subsidized loans for (a) home insulation and (b) solar systems for ungasified communities. Hundreds of households use these. Not storage, however. The regulatory framework allows for net metering, in the interim, net metering compensates for t storage capacity without the need to invest in batteries.
indeed, they are the 2nd largest, but they are also the 4th largest consumer in the world (one of the largest in per capita gas consumption).it is not only what the resource endowment is, but the exploitation potential and resource readiness. UNless they implement dramatic energy efficiency efforts or replace domestic gas consumption with another fuel, the export potential has a number of physical constraints.
The best option is investing in geothermal power plants, upgrading current hydro power dams (more efficient turbines) and installing small modular nuclear reactors (SMR) around Armenia. As mentioned by the guest, building renewable energy facilities in Armenia won't see any return due to the low cost of gas imported from Russia, there is also the problem of operating life which is low for renewable s like solar, give or take 15 to 20 years.
This is misguided - Do you know the maintenance schedule and average lifespan of a thermal plant? Maybe 30-40 years, maybe… And the cost? The LCOE across the globe shows solar is cheaper than maintaining existing and building new thermal plants, even when you factor in transmission costs and storage. There is no economic, or engineering reason to shy away from solar except for reasons of self-interest (corruption/lobbying).
@gel_ while we should not shy away from solar, especially engineering-wise, the LCOE of existing depreciated power plants is quite low (both thermal and large hydro). building new TPP is indeed a crime, but Armenia did build one in 2022- Launched Renco. Without storage, the other security pillar is integration into regional electricity markets through back-to-back connection through Georgia, which is a diplomatic issue that cannot seem to be solved...
Interesting discussion - but as an electrical engineer in solar I can say (1) base load power is a non-sense argument, use batteries, it’s far cheaper than thermal, global LCOE of solar with transmission and storage is lower than thermal (2) energy efficiency is the real killer, we have that problem in Australia, zero thermal insulation and the induced financial burden is horrendous - building codes should be heavily updated and regulated (3) nuclear is necessary for Armenia for political independence not energy independence (4) please stop perpetuating the myth that state-owned assets are inefficient compared to private and that they don’t integrate well with the “free” market - get real. STATOIL? EQUINOR? That position is pure Thatcherite indoctrination. Further, the oil market and the electricity markets are cartels (OPEC, AEMO, etc.), government simulated auction houses of fully-cooperating monopolies. You can’t have a free market when you have ONE physical cable feeding power to your home.
Thanks for tuning in and the feedback. Armenia is just starting to explore storage (other than hydro storage), the feasibility and business models are being researched, we'll see what will work in the current reality. The LCOE for solar is low, but with storage - is high, it needs to meet the market needs, there are a lot of depreciated power generation capacities in the sector, so whatever comes, needs to be competitive. And yes, energy efficiency has endless potential, we've noteven scratched the surface in this. Policy-wise, the situation is evolving, enforcement is lacking.
Ukraine have that own gas and oil they have enough for their own use and they have enough for the sale .Russia want the crima gas and that way he invaded crima in 2014
@maksud, it all depends on the moral levels of one’s neighbor’s; if one considers the highly corrupt , autocratic personal regime at Baku, then it is not “ruining” what is been done here , instead we are setting an example to the world how we are resilient much healthier economy , despite an atrocious neighbor ,such as one in Baku, a neighbor to which the world exploits its only natural resource , Gas/oil, at a price that the regime has absolutely no control …and this @maksud is labeled in the world as worthless 3rd World country.. and this my dear is YOUR lot .
@@User-aloha1780well said! It is quite amusing how the country sitting on the same level as Sudan and Somalia dares to lecture us on the geopolitical issues
Armenians have limited capacity to understand basic concepts. 30 plus years of statehood and still talking about independence. We will focus on continuing mutually beneficial trade with Georgia, a very friendly nation.
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Very knowledgabl and smart👍
Thank you for a very informative interview on a vital topic concerning the survival of our Nation. Astghine Pasoyan is a competent level-headed economist and she explained the situation clearly in layman's terms for us all to understand. Mr Elliott, please bring more people like her.
Very interesting discussion about energy policy thank you for this informative and helpful video 🙏
Thanks
Great interview! I’d love my family in Armenia to understand it, please consider having an Armenian translation. Thank you!!!
I wish all civilnet videos would be bilingual or even trilingual. English, Armenian, Russian.
It is such fresh of breath air to listen in the Caucasus , individuals express their thoughts , comments and criticisms freely and with utter liberty , for personally beleive we need liberty and not just Peace , for peace is found all around autocratic regimes with people submitted to tyranny in Peace !!
Fantastic interview 😊
Great discussion
Thanks Patrick. One of the best interviews so far.
What about subsidizing the individual households for installing home solar systems with adequate storage capacities? From somewhere it has to start.
The government has subsidized loans for (a) home insulation and (b) solar systems for ungasified communities. Hundreds of households use these. Not storage, however. The regulatory framework allows for net metering, in the interim, net metering compensates for t storage capacity without the need to invest in batteries.
Price hike and subsidies for the poor is one way. Raising funds, debt or equity, is another. Armenia Energy PLC is what we need.
Iran wont be running out of gas anytimr soon they have the 2nd largest reserves in the world
indeed, they are the 2nd largest, but they are also the 4th largest consumer in the world (one of the largest in per capita gas consumption).it is not only what the resource endowment is, but the exploitation potential and resource readiness. UNless they implement dramatic energy efficiency efforts or replace domestic gas consumption with another fuel, the export potential has a number of physical constraints.
The best option is investing in geothermal power plants, upgrading current hydro power dams (more efficient turbines) and installing small modular nuclear reactors (SMR) around Armenia. As mentioned by the guest, building renewable energy facilities in Armenia won't see any return due to the low cost of gas imported from Russia, there is also the problem of operating life which is low for renewable s like solar, give or take 15 to 20 years.
This is misguided - Do you know the maintenance schedule and average lifespan of a thermal plant? Maybe 30-40 years, maybe… And the cost? The LCOE across the globe shows solar is cheaper than maintaining existing and building new thermal plants, even when you factor in transmission costs and storage. There is no economic, or engineering reason to shy away from solar except for reasons of self-interest (corruption/lobbying).
@gel_ while we should not shy away from solar, especially engineering-wise, the LCOE of existing depreciated power plants is quite low (both thermal and large hydro). building new TPP is indeed a crime, but Armenia did build one in 2022- Launched Renco. Without storage, the other security pillar is integration into regional electricity markets through back-to-back connection through Georgia, which is a diplomatic issue that cannot seem to be solved...
Interesting discussion - but as an electrical engineer in solar I can say (1) base load power is a non-sense argument, use batteries, it’s far cheaper than thermal, global LCOE of solar with transmission and storage is lower than thermal (2) energy efficiency is the real killer, we have that problem in Australia, zero thermal insulation and the induced financial burden is horrendous - building codes should be heavily updated and regulated (3) nuclear is necessary for Armenia for political independence not energy independence (4) please stop perpetuating the myth that state-owned assets are inefficient compared to private and that they don’t integrate well with the “free” market - get real. STATOIL? EQUINOR? That position is pure Thatcherite indoctrination. Further, the oil market and the electricity markets are cartels (OPEC, AEMO, etc.), government simulated auction houses of fully-cooperating monopolies. You can’t have a free market when you have ONE physical cable feeding power to your home.
Thanks for tuning in and the feedback. Armenia is just starting to explore storage (other than hydro storage), the feasibility and business models are being researched, we'll see what will work in the current reality. The LCOE for solar is low, but with storage - is high, it needs to meet the market needs, there are a lot of depreciated power generation capacities in the sector, so whatever comes, needs to be competitive. And yes, energy efficiency has endless potential, we've noteven scratched the surface in this. Policy-wise, the situation is evolving, enforcement is lacking.
Ukraine have that own gas and oil they have enough for their own use and they have enough for the sale .Russia want the crima gas and that way he invaded crima in 2014
Ruin relations with neighbors, remain on the sidelines of regional projects and suffer. This is your lot.
@maksud, it all depends on the moral levels of one’s neighbor’s; if one considers the highly corrupt , autocratic personal regime at Baku, then it is not “ruining” what is been done here , instead we are setting an example to the world how we are resilient much healthier economy , despite an atrocious neighbor ,such as one in Baku, a neighbor to which the world exploits its only natural resource , Gas/oil, at a price that the regime has absolutely no control …and this @maksud is labeled in the world as worthless 3rd World country.. and this my dear is YOUR lot .
@@User-aloha1780well said! It is quite amusing how the country sitting on the same level as Sudan and Somalia dares to lecture us on the geopolitical issues
Armenians have limited capacity to understand basic concepts. 30 plus years of statehood and still talking about independence. We will focus on continuing mutually beneficial trade with Georgia, a very friendly nation.
Good luck Zombi@@gusarov_ruslan
Unless Armenia opens all its borders there is no markets for additional investment returns in any sector.