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Colorado Electric Vehicle Tax Credits, Rebates and Incentives
The state of Colorado established itself as an electrification leader in 2018 by announcing an ambitious plan to transition nearly all light-duty vehicles to electric by 2050, and help build a robust corridor of EV charging stations across the state to help facilitate economic development, boost tourism, and reduce harmful air pollution.
In Q3 2024, over 25% of new vehicle registrations in Colorado were EVs. If you’re among the 50% of residents who are considering an EV purchase, make sure to save on your new vehicle by combining state tax credits with the Vehicle Exchange Colorado rebate and other incentives listed below.
Colorado EV Tax Credit
Coloradans can claim a state tax credit worth up to $7,500 for purchasing or leasing new electric vehicles and plug-in hybrid electric vehicles (PHEVs). 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, there’s an additional $2,500 state credit.
You can receive the state EV tax credit at the time of purchase as 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 like EVs and PHEVs. 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 income requirements, 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’re eligible for the Vehicle Exchange Colorado Rebate, you can receive up to $6,000 toward the purchase or lease of a new battery electric vehicle or plug-in hybrid vehicle. 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.
Federal Tax Credits For Electric Vehicles
Car buyers in Colorado may also qualify for federal tax credits like the clean vehicle tax credit of up to $7,500 for new vehicles, or the used clean vehicle tax credit for up to $4,000. Income restrictions as well as battery component and critical mineral restrictions may apply. Be sure to speak to a qualified CPA or tax professional to check your eligibility.
Utility Rebates For Electric Cars
Utilities in Colorado have their own electrification programs for energy transition technologies like electric cars.
Scroll down to view a few examples, and be sure to check with your local utility to see what programs or offerings are available in your area.
Black Hills Energy EV Rebate
As a Black Hills Energy residential customer, you can apply for a $2,500 rebate if you purchase a new or used EV or plug-in hybrid with an MSRP of less than $50,000. 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 (Out Of Funding)
Xcel Energy offered income-based rebates for the purchase of new and used EVs. You could 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 was $5,500 for the purchase of a new EV and $3,000 for a used model, but as of November 2024 the program met it’s funding limits and is no longer available.
San Isabel Electric Association EV Rebate
San Isabel Electric Association offers a $500 rebate on all qualified EV purchases.
Gunnison County Electric Association EV Rebate
Residents of Gunnison can claim a rebate of up to $1,000 on new EV & PHEV purchases. The rebate drops to 25% of purchase price, up to $500 dollars for used plug-in vehicles, and up to $1,000 for used all-electric vehicles.
Colorado EV Charger Rebates
In addition to the above incentives that are offered for purchasing an electric car, Colorado residents can also claim rebates for purchasing and installing Level 2 EV chargers, ranging from as little as $250 to over $1,000. Scroll down to view more details for specific utility providers in CO.
Colorado Utility Rebates for Level 2 EV Chargers & Installation
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 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 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 TOU 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 EV charger 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 receive a 50% rebate, up to $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.
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 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 in Colorado
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. You’ll 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. 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 chargers and $7,500 for DC Fast chargers.
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 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 charger. 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 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 charger with a peak rating of 50 kWh, with a limit of $5,000.
The San Luis Valley Rural Electric Cooperative offers several rebate programs that apply to commercial EV chargers. You can receive up to $1,000 for managed Level 2 chargers, including chargers with fee collection capabilities. If you’re looking into DC Fast charging, 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 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 public 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 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 chargers without retail fee collection, the rebate is limited to $500.
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.
EV Charging Rates in Colorado
By enrolling in a time-of-use (TOU) electricity rate 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 electricity rate plans.
Special EV Charging Rates from Colorado Utilities
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 has more than 5,000 public charging ports and 2,100 public charging stations including over 4,100 Level 2 and 1,035 DC Fast stations. There are 43 Tesla Supercharger stations and 440 Tesla Supercharger ports in Colorado.
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.
Stations operated by municipalities tend to be more affordable. For instance, you’ll have to pay $1 per hour of Level 2 charging if you use public stations in Longmont, CO. As a Denver resident, you can use public Level 2 chargers for $1 for the first two hours and $2.50 per hour afterward, besides public parking garage fees.
Prices are higher for DC Fast charging. For instance, the public DC Fast 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. Colorado Electric Byways serve as conduits for sustainable travel, offering electric vehicle travelers the opportunity to explore the state’s breathtaking landscapes while reducing their carbon footprint
Other 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.
Tesla has built a Supercharger network of fast charging stations throughout the state, with locations approximately 150 miles apart along I-70 and I-25.
Visit the U.S. Department of Energy’s Alternative Fuels Data Center Map of EV Charging Station Locations in Colorado, which can be sorted and filtered based on public access, charger type (Level 1, Level 2, DC Fast), and connector type (NACS, J1772, CCS, CHAdeMO).
Home Electrification Incentives in Colorado
Colorado is offering home energy rebates funded through the Inflation Reduction Act, making $70.4 million for home efficiency rebates and $70 million for home electrification available for things like appliance rebates, insulation and air sealing, heat pumps for space and water heating, and upgrades to smart electrical panels necessary to enable those retrofits.
Combining EV ownership with other electrification projects, such as upgrading your home with solar panels & battery storage, or investing in a heat pump, will help you save even more while reducing your environmental impact.
In Colorado, you may qualify for home electrification incentives through your electricity provider in addition to the U.S. federal government. Scroll down to read rebate and incentive details for specific home electrification technologies.
Battery Storage
Xcel Energy’s Renewable Battery Connect program offers upfront incentive worth $500 per kW, up to 50% of your battery equipment cost. Customers who remain enrolled in the program can earn $100 annually for up to 5 years.
Holy Cross Energy customers who install a solar battery and enroll in the Distribution Flexibility Program Tariff can earn an upfront incentive of $500 per kW up to 25 kW. If you instead enroll in the Time of Day Tariff, you can earn $250 per kW up to 25 kW.
Additionally, the 25D Residential Clean Energy Tax Credit provides a 30% federal tax credit on the cost of new battery storage systems size 3kWh and larger.
Electrical Panels
The 25C Energy Efficient Home Improvement Tax Credit provides a federal tax credit for electrical panel upgrades needed to complete electrification projects like heat pumps and heat pump water heaters (up to 30% of project costs, capped at $600). The 25C tax credit can be used by renters, and homeowners making upgrades to their primary or secondary home.
Qualifying electrical panels must meet the standards of the National Electric Code (NEC) and have a capacity of 200 Amps or more. This means that your new/upgraded panel must be able to serve a load of at least 200 Amps, but you don’t need 200 Amps of incoming utility service. Smart panels may qualify if they allow you to serve a load of 200 Amps.
If you’re claiming 25D for a residential solar or battery storage project and the installation required you to upgrade your main panel, you may be able to apply 25D to electrical panel costs as well.
Heat Pumps & Heat Pump Water Heaters
The 25C Energy Efficient Home Improvement Tax Credit also applies to heat pumps and heat pump water heaters. A 30% federal tax credit is available (capped at $2,000 dollars). Eligible technologies must meet certain energy efficiency requirements.
Solar Panels
Black Hills Energy will pay you $0.03 cents for every kWh your solar panels produce for the first 10 years they’re connected to the grid. In exchange, Black Hills Energy will earn the renewable energy credits (RECs) associated with your system.
Holy Cross Energy customers can earn an upfront incentive of $250/kW for systems between 0-6 kW, or $100/kW for systems between 6-25 kW.
Xcel Energy pays out $1,000/kW up to 7 kW for customers who are income qualified or live in a Disproptionately Impacted community. You’ll need to allow Xcel to claim your RECs for 20 years.
And don’t forget to claim the 25D Residential Clean Energy Tax Credit which provides a 30% federal tax credit on the cost of photovoltaic (PV) solar panel systems.
Recent Colorado EV Charging News
Colorado Airports Receive $100 Million, Denver to Add 15 EV Charging Stations
Colorado Pumps $21 Million into Fast-Charger Expansion for Electric Vehicles
City of Boulder Launches Innovative Pilot Program to Integrate Electric Vehicles and Affordable Housing
Colorado Energy Regulators Reject Xcel’s Plans to Build Hundreds of EV Charging Stations
Colorado’s State EV Fast Charger Program Adds 33 Highway Sites
Why Qmerit is the #1 EV Charger Installer in Colorado
With savings available from the state of Colorado EV tax credit, alongside the rapidly growing rate of EV adoption and public EV charging infrastructure, there’s never been a better time to make the switch to electrification.
The cost savings created by adopting clean, sustainable energy are just the start of the benefits you’ll see, and by partnering with a qualified electrician who can tailor an EV charger installation to your specific needs, you can maximize these benefits even more.
As North America’s most trusted and largest network of certified EV charger installers, Qmerit is recommended by automakers, EV charger manufacturers, utilities, businesses, and homeowners alike. Rated #1 in customer satisfaction, our expert network has installed over 450,000 EV charging stations across the U.S. and Canada.
Discover how Qmerit is paving the way forward for residential EV charger installation and whole-home electrification solutions. Contact us today to find out how easy home electrification can be!