One of the main challenges to theoretical attempts to understand the micros
copic mechanism of high-transition-temperature (high-T-c) superconductivity
is to account quantitatively for the superconducting condensation energy,
the energy by which the normal state differs from the superconducting state
(1-6). A microscopic model commonly used to describe the superconducting co
pper oxides, the t-J model(7), is thought to capture the essential physics
of the phenomenon: the interplay between the electrons' kinetic energy and
their antiferromagnetic exchange interaction. Within the t-J model the cond
ensation energy can be related to the change in the dynamical spin structur
e between the superconducting and the normal states(8). Here we propose a m
icroscopic mechanism for the condensation energy of high-T-c superconductor
s. Within this mechanism, the appearance of a resonance in the superconduct
ing state(9-13) enables the antiferromagnetic exchange energy in this state
to be lowered relative to the normal state. We show that the intensity of
the resonant neutron-scattering peak observed previously in YBa2Cu3O7 when
it undergoes the transition to the superconducting state(14-16) is in quant
itative agreement with the condensation energy of these materials(2,3).