Reported by Ann Rascalli

DENVER - 2010 is shaping up to be a much better year for energy markets in the Denver metro area, according to analysts who predict energy trends will strengthen. They base their positive outlook on data compiled by the Metro Denver Economic Development Corporation.

“Energy markets are already positioning for a comeback,” Tom Clark, executive vice president for the Metro Denver EDC said.

The traditional extraction industry sector has made news with strategic changes aimed at developing unconventional resources such as oil shale and oil sands; and things look to be on the upswing for the state’s renewable energy industry as well.

A number of challenges remain, but overall, marketplace changes so far seem to indicate that energy businesses expect improved conditions soon.

Last year’s stimulus package continues to impact Colorado. As we reported in Colorado Energy News, the Obama Administration hopes $2.3 billion in stimulus-funded tax credits will jettison green jobs creation, and Colorado companies were the recipients of more than $75 million. They are Abound Solar, Advanced Energy Industries, Coolerado Corp., ReflecTech, Hexcel Corp. and Vestas.

Colorado will also receive roughly $6 million in stimulus dollars from the U.S. Department of Labor for job training in renewable energy and other emerging industries.

The biofuels industry is also getting a boost as $78 million in stimulus grants are going to two biofuel consortiums with Colorado members. Solix Biofuels and Colorado State University are part of a group that will explore algae-to-oil technology, and the National Renewable Energy Laboratory is part of a group that will research infrastructure compatible with biofuels.

Even the Colorado Department of Transportation (CDOT) is getting more than $1 million to study how high speed rail lines could connect to Metro Denver’s FasTracks network.

“The hope is that these stimulus dollars will create jobs locally,” Metro Denver EDC’s Clark told 9News.