Colorado EV Rebates & Charging Incentives

The state of Colorado established itself as an electrification leader in 2018 by announcing an ambitious plan that would help transition nearly all light-duty vehicles to electric vehicles (EVs) by 2050 and help build a robust corridor of EV charging stations across the state.

This bold initiative was among the first of its kind and triggered major changes across the state by helping facilitate economic development, boost tourism, and reduce harmful air pollution.

As a resident or business owner, the Colorado Electric Vehicle Plan gives you access to a wide range of exciting Colorado EV incentives, but it’s not the only rebate or incentive available to you. In this article, we’ll explore the various Colorado EV and EV charging rebates and incentives.

Colorado Electric Vehicle Rebates, Tax Credits, and Incentives

Did you know that over 14% of new vehicle registrations in Colorado are EVs? In fact, Colorado is one of the best states for buying an electric vehicle and many residents are considering making an electric vehicle their next car.

If you’re among the 50% of residents who are considering an EV purchase, make sure to save on your new vehicle by combining federal savings through the IRA and state tax credits with the Vehicle Exchange Colorado rebate to take even greater advantage of the funding available to you in your decision to drive electric.

Colorado EV Tax Credit

Coloradans can claim a state tax credit worth up to $7,500 for purchasing or leasing a new electric vehicle.

The Colorado EV tax credit amounts to $5,000 for EV purchases with an MSRP of $80,000 or less and EV leases with a term of at least two years. If you choose an EV model that costs under $35,000, you’ll qualify for an additional $2,500 state credit.

You can receive this state credit of up to $7,500 at the time of purchase in the form of a price reduction from the dealership or claim it on your Colorado income tax return.

Colorado EV Rebate for Vehicle Exchange

The Vehicle Exchange Colorado Program facilitates replacing old or high-emission vehicles with cleaner alternatives. To qualify, you must meet a few requirements:

First, your current vehicle must be over 12 years old or fail a Colorado emission test. You also need to meet set income requirements. To qualify for this Colorado electric vehicle rebate, your household’s income must not exceed 80% of the median income for your area. You can access income data for your county on this spreadsheet.

If you are eligible for the Vehicle Exchange Colorado Rebate based on these parameters, you can receive up to $6,000 toward the purchase or lease of a new battery electric vehicle or plug-in hybrid electric vehicle (PHEV). If you opt for a used model, the rebate can’t exceed $4,000.

To qualify for the full amount of the rebate, the MSRP of the new vehicle shouldn’t exceed $80,000, and you shouldn’t pay more than $50,000 for your used vehicle.

Colorado Utility EV Rebates

Beyond savings at the federal and state level on the purchase of an electric vehicle, many electric utilities within the state of Colorado also offer a rebate for their customers to purchase or lease a new or used EV or PHEV.

Black Hills Energy EV Rebate

As a Black Hills Energy residential customer, you can apply for a $2,500 EV rebate if you purchase a new or used EV or plug-in hybrid with an MSRP of less than $50,000 and meet the income eligibility requirements of the program.

You can either claim this rebate at the point of sale or apply for it on the Black Hills Energy website after purchasing your EV. Note that there is an income requirement to meet.

Xcel Energy EV Rebate

Xcel Energy offers income-based rebates for the purchase of new and used EVs. You can qualify if your income equals 80% or less of the median income in your area and you are enrolled in an income-based program, such as TANF, SNAP, or LEAP.

The Xcel Energy EV rebate is $5,500 for the purchase of a new EV and $3,000 for a used model.

San Isabel Electric Association EV Rebate

San Isabel Electric Association offers a $500 rebate on all EV purchases.

Gunnison County Electric Association EV Rebate

This utility provider offers a rebate of up to $1,000 on your EV purchase.

You can claim this rebate for new and used EV purchases, and the rebate amount drops to $500 for plug-in electric vehicles.

Colorado EV Charger Rebates

If you’re planning a community charging project, the Charge Ahead Colorado Program can cover 80% or 90% of the cost, with a limit of $6,250 per Level 2 port and $50,000 per single-port DC Fast charger. This program issues funding on a case-by-case basis and prioritizes charging at multifamily dwellings, workplaces, non-profits, places of worship, schools, community centers, and more.

There are no Colorado EV incentives for home EV chargers at the state level at this time. However, depending on the EV model you purchase, you may receive credits toward the cost of a professional Level 2 EV charger installation, a Level 2 EV charging station, or other bundled savings for at-home charging.

Additionally, several utilities offer incentives designed to help you save on the purchase and installation of a home charging station, and federal incentives can be combined with these local savings for a greater cost reduction.

Colorado Utility Rebates for Level 2 EV Chargers & Installation

Beyond offering savings on the purchase or lease of an electric vehicle, several Colorado utilities also offer Colorado EV rebates on Level 2 EV charging equipment and installation. Contact your provider to learn more about the latest program updates, as these programs can change.

As a residential Holy Cross Energy customer, you can get $549 off the cost of an EV charging station. You’ll have to pick one of the EVSE models compatible with the utility’s charging network and join the HCE EV charging program.

Xcel Energy facilitates at-home charging with a program that includes installing and maintaining your Level 2 charger. If you join this program, you’ll qualify for a $500 EV charger rebate that can go up to $1,300 based on your income.

You can save up to $500 on the installation of a residential at-home EV charger thanks to Black Hills Energy’s EV rebate program. This incentive goes up to $1,300 if you meet certain income requirements. Note that you’ll have to enroll in the utility’s time-of-use (TOU) rate schedule to receive this rebate.

If you’re a Gunnison County Electric Association residential customer, you can receive a rebate of 50% of the cost of installation and equipment or a payment of $1,250. This program only applies to hardwired Level 2 EV chargers, and you’ll have to join the utility’s time-of-use program.

Empire Electric Association will cover 50% of the cost of purchasing and installing EVSE, with a limit of $250. The limit increases to $1,250 if you sign up for the utility’s TOU program.

La Plata Electric Association offers a number of Colorado EV incentives. You can get a free Level 2 charger from this utility provider if you join a program that collects charging data via Wi-Fi. You can also buy your own smart charger and benefit from a 50% rebate with a limit of $250.

As a Mountain Parks Electric customer, you can get a rebate that covers 50% of the cost of buying and installing a Level 2 EV charger, up to $1,000.

The Mountain View Electric Association offers a similar program with a limit of $250. You can receive $125 toward the purchase of a Level 2 EVSE and another $125 toward installation cost, not to exceed 50% of what you’re spending.

If you live in northern Colorado and get your power from the Poudre Valley Rural Electric Association, you can receive up to $250 for installing a Level 2 charger. The rebate can go up to $1,000 if you enroll in the utility’s pilot EV charging program and TOU program.

The Sangre de Cristo Electric Association will cover 50% or $250 of the cost of your EV at-home charging project. If you opt for a managed charger, you’ll receive up to $1,000.

You can get a $1,000 rebate or 50% of the purchase and installation cost for an Energy Star Level 2 charger with the San Isabel Electric Association.

The San Luis Valley Rural Electric Cooperative offers a $250 rebate for non-managed Level 2 EV chargers. Installing a managed charger will make you eligible for a rebate of up to $1,000.

As long as you install a Level 2 EV charger that is compatible with the utility’s TOU program, the San Miguel Power Association will give you $250 toward your EVSE purchase and up to $250 to cover the installation cost.

If you get your electricity from United Power, you can qualify for a rebate of up to $500 to upgrade your wiring before installing a Level 2 EV charger. Joining the utility’s United Power EV program will make you eligible for a rebate of up to $1,000.

You can get $250 for the installation of a Level 2 EV charger with Wi-Fi through the Yampa Valley Electric Association.

Non-Residential Utility Rebate Programs for EV Charging Stations

Commercial EV charging station rebates in Colorado are available to multifamily properties, fleet charging hubs, workplaces, publicly available EV chargers, and more.

Xcel Energy has an extensive program designed to develop private and public charging. The utility reviews applications on a case-by-case basis and can provide charging equipment at no cost if your project is selected. Through this program, you will also get help with upgrading your electrical infrastructure, if needed.

Your business can receive up to $2,000 per Level 2 port or up to $35,000 per DC Fast charging port with Black Hills Energy. As a non-profit or government organization, you can receive additional rebates.

The Gunnison County Electric Association offers a Charge at Work program that covers up to $1,250 of the cost of installing a Level 2 EV charger, however, your business must enroll in the utility’s TOU program to claim this rebate.

Mountain Parks Electric has a commercial EV rebate program that covers up to $1,000 for connected Level 2 EV chargers and $7,500 for DC Fast chargers (DCFC).

As a commercial Empire Electric Association customer, you can access a rebate program that covers 50% of the cost of your EV charging project. There is a $250 limit for Level 2 EV chargers, but it goes up to $1,250 if you join a TOU program. The rebate amount ranges from $4,500 to $9,000 for DC Fast chargers, depending on performance.

The Mountain View Electric Association will cover 50% or up to $1,000 if you install a managed Level 2 EV charging station. The rebate has a $250 limit for non-managed chargers.

You can receive up to $1,000 through the Poudre Valley Rural Electric Association for a publicly available Level 2 EV charger. Installing a DC Fast charger makes you eligible for a commercial rebate of $3,000 to $7,000 based on performance.

San Isabel Electric will cover 50% of the cost of installing a DC Fast charging station with a peak rating of 50 kWh, up to a limit of $5,000.

The San Luis Valley Rural Electric Cooperative offers several rebate programs that apply to commercial EV charging stations. You can receive up to $1,000 for managed Level 2 EV charging stations, including chargers with fee collection capabilities. If you’re looking into DC Fast charging stations, this utility provider will cover 50% of the cost, with limits ranging from $3,000 to $7,500 depending on the equipment’s power rating.

San Miguel Power will cover 50% of your EVSE purchase and installation costs with a Colorado EV charger rebate. The limit is $250 for private Level 2 EV chargers, $1,000 for public Level 2 chargers, and $3,000 to $7,500 for DC Fast chargers, depending on performance.

In northern Colorado, Estes Park Power and Communications, Fort Collins Utilities, Longmont Power & Communications, Loveland Water and Power, and Platte River Power Authority are offering a $5,000 rebate for installing Level 2 EV chargers under the Efficiency Works regional utility collaboration.

Public and commercial charging projects can qualify for a 50% rebate with the Mountain View Electric Association. The rebate adds up to $250 for non-managed Level 2 chargers and $1,000 for managed Level 2 chargers, including EVSE that belongs to a charging network. For DC Fast charging, the rebate ranges from $3,000 to $7,500, depending on performance.

If you collect a fee for EV charging, you can earn a $1,000 rebate per Level 2 EV charging station with the Sangre de Cristo Electric Association. This rebate ranges from $3,000 to $7,500 per DC Fast charger. If you install Level 2 EV chargers without any retail fee collection, the rebate is limited to $500.

EV Charging Rates in Colorado

By enrolling in a time-of-use (TOU) program, you can unlock a discounted rate by charging your EV during off-peak hours. Many Colorado utilities offer TOU programs and often require you to enroll in one of these programs to qualify for the rebates mentioned above.

Below is a list of utilities offering TOU programs for EV charging. Contact your utility provider for the latest information on their specific TOU electricity rates.

Holy Cross Energy has an opt-in TOU program for residential and commercial customers. The on-peak rate is $0.245 per kWh between 4 and 9 P.M. and drops to $0.065 the rest of the time.

As an Xcel Energy residential customer, you can join a seasonal TOU program with on-peak, mid-peak, and off-peak rates. Your Xcel Energy EV charging rate can be as low as $0.12 per kWh between 7 P.M. and 1 P.M. This utility also offers different rate plans for commercial customers, including peak partner rewards, TOU rates, and more.

Black Hills Energy has a residential TOU program and two commercial TOU programs based on energy consumption levels. These programs help you save on residential and commercial EV charging by replacing your energy bill with a flat monthly fee as low as $8.77 for at-home EV charging.

As a Gunnison County Electric Association customer, your off-peak energy rate can be as low as $0.09 per kWh for at-home or commercial EV charging.

Grand Valley Power is another utility provider with a TOU program. By opting in, you can unlock off-peak rates of $0.09 per kWh and on-peak rates of $0.19 per kWh.

Joining Empire Electric Association’s TOU program will help you save on EV charging at home with off-peak rates of $0.04 per kWh.

Mountain Parks Electric has a flexible TOU program with different tiers based on usage, with rates as low as $0.03 per kWh. Commercial facilities can also save on DC Fast charging with a preferred rate of $0.03 per kWh.

If you’re a Poudre Valley Rural Electric Association customer, you can earn rewards in the form of bill credits for following a charging schedule for your EV. This utility provider also offers a TOU program for residential and commercial customers with off-peak rates of $0.05 per kWh.

San Isabel Electric’s seasonal TOU program includes off-peak rates of $0.06 per kWh if you use more than 1,000 kWh for residential customers and $0.07 per kWh for commercial users.

You can pay $0.05 per kWh for off-peak EV charging with United Power’s TOU program.

Public EV Charging Stations in Colorado

Colorado will receive a total of $57 million in NEVI funding over the next several years. These funds will be used to develop 34 charging hotspots along 16 alternative fuel corridors that run through the state.

The state’s public charging infrastructure is also quickly growing in urban areas. A project is in progress to build 46 charging sites with 290 charging ports across the state by the end of 2025.

How Many Public EV Charging Stations Are in Colorado?

Colorado already has more than 5,000 public charging ports and 2,100 public charging stations including over 4,100 Level 2 and 1,035 Level 3/DC Fast charging stations. There are also 43 Tesla Supercharger stations and 440 Tesla Supercharger ports in Colorado and recent changes to the charging standard in EV models as well as new adapters ensure these chargers can be utilized by a wider variety of EV models.

Thanks to its extensive charging infrastructure, Colorado is the second most EV-friendly state, and these numbers should continue to increase as Colorado’s statewide EV charging network continues to grow.

How much do public EV charging stations cost in Colorado?

The cost of charging an EV at a public station varies from one network to another. On average, you can expect to pay $0.45 per kWh but keep in mind that DCFC stations will often cost more than Level 2 EV charging stations.

Additionally, stations operated by municipalities tend to be more affordable. For instance, you might have to pay $1 per hour of Level 2 EV charging if you use public stations in Longmont, CO and as a Denver resident, you can use public Level 2 chargers for $1 for the first two hours and $2.50 per additional hour, plus standard public parking garage fees.

Again, prices are higher for DC Fast charging. For instance, the public Level 3 charging stations available in Estes Park, CO, cost $0.25 per kWh and an additional $0.20 per minute.

Are there free public electric car charging stations in Colorado?

Yes, there are many free EV charging stations available in Colorado. The Denver-Aurora-Lakewood area alone counts 400 free locations, including free Level 2 stations at the OSMP Annex, the East Boulder Community Center, or the Valmont Dog Park in Denver.

Where are public charging stations located for electric cars in Colorado?

You’ll find more public charging stations in major urban areas, but Colorado’s charging infrastructure is developing quickly, with new locations appearing along alternative fuel corridors.

Examples include the Dinosaur Welcome Center in Dinosaur, CO; the Purgatory Ski Resort in Durango, CO; La Junta Villa Inn in La Junta, CO; and the Alamosa Visitor Center in Alamosa, CO, among many others.

You can locate charging stations in Colorado with this helpful tool.

Colorado Home Electrification Incentives

Colorado is an electrification leader and one of the most progressive states when it comes to EV adoption.

In addition to driving electric, as a Colorado resident you can soon take advantage of additional incentives for electrifying your home and replacing outdated appliances. In 2024, Colorado is expected to offer home energy rebates funded through the Inflation Reduction Act, making $70.4 million for home efficiency rebates and $69.9 million for home electrification available for things like appliance rebates, insulation and air sealing, heat pumps for space and water heating, and the electrical upgrades necessary to enable those retrofits.

Combining EV ownership with other electrification projects, such as upgrading your home with solar panels, battery storage, or updating your HVAC system to a heat pump, will help you save even more while reducing your environmental impact.

#1 Trusted EV Charging Installer in Colorado – Qmerit

Qmerit is the most trusted EV charger installation partner recommended by automakers, EV charger manufacturers, businesses, utilities, and homeowners alike.

With over 770,000 EV charging installation projects, we’re the largest and most experienced network of EV charging station installers in the country and are ranked #1 in customer satisfaction across North America!

Join us in our mission to transform our planet to a more sustainable, energy-resilient, electric-powered future. Contact us today to learn more about EV adoption and at-home charging in Colorado, or complete our online EV assessment to receive a custom quote for more information.