Colorado Electric Vehicle Incentives
You could save up to $10,000 thanks to federal and Colorado electric vehicle incentives.
Written by Bonnie Stinson
Reviewed by Carrie Adkins
In Colorado, drivers who purchase eligible electric or plug-in hybrid electric vehicles can save up to $10,000 with the federal and state incentive programs. Colorado has some of the best incentives in the entire country.
Today, 90% of the country’s transportation energy comes from petroleum and transportation is the leading cause of greenhouse gas emissions nationwide. Electric and hybrid vehicles are a great way to save money and the planet.
Many states offer incentives to inspire drivers to choose green cars. These are usually rebates, tax credits, or discounts that help reduce the cost of owning and maintaining an electric vehicle.
There are state-specific incentives as well as federal rewards. To help you understand, the
car insurance
comparison and broker app Jerry
has compiled a guide to Colorado electric vehicle incentivesHow much can I save with the Colorado electric vehicle incentive?
As of 2021, Colorado offers a vehicle-related incentive for new EVs (light passenger vehicles) up to $2,500. Trucks are eligible for a higher incentive. There is also a federal tax credit available up to $7,500 depending on the car’s battery capacity.
Colorado companies offer some generous rebates for individuals who install an EVSE (charging station), too. Colorado Poudre Valley REA, San Isabel Electric Association, Black Hills Energy, and Gunnison County Electric Association offer rebates up to $500.
Holy Cross Energy
is offering a free Level 2 EVSE for those who meet certain conditions.Empire Electric Association offers up to $3,000 for commercial entities that install an EVSE with data collection.
Charge Ahead Colorado
is a grant program to support EV and EVSE adoption but it’s primarily geared toward public entities.One company, Xcel Energy, also offers a discounted electricity rate for residential customers who charge their plug-in electric vehicles at home.
How to get the Colorado electric vehicle incentive
To access the Holy Cross Energy deal, you must hire someone to install the EVSE or do it yourself. You have 60 days to install it from the day you pick it up and three years to repay the cost of installation.
How to find cheap car insurance for your electric vehicle
Did you know that most insurance companies offer discounts just for owning an electric car? Use
Jerry
to compare quotes from top insurance companies and find discounts.The Jerry app is fast, reliable, and straightforward. It can help you find a great price without sacrificing coverage. Whether you have an electric vehicle or a plug-in hybrid electric, let the Jerry app help you find the best deal on your car insurance. The average user gets $879 in savings each year!
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