Colorado EV, plug-in and hybrid incentives

Qualified EVs and FCEVs titled and registered in Colorado are eligible for a tax credit. Light-duty EVs and FCEVs purchased or leased before January 1, 2029, are eligible for a tax credit equal to the amounts below, per calendar year:

::: {data-align="center"} Vehicle Type 2025 2026 2027 2028 -------------------------------------------------- ---------- --------- ------------------ ------------------ Light-duty EV or FCEV $3,500 $750 To be determined To be determined Light-duty electric or hydrogen fuel cell truck $3,500 $750 To be determined To be determined Medium-duty electric or hydrogen fuel cell truck $12,000 $4,000 $4,000 $4,000 Heavy-duty electric or hydrogen fuel cell truck $12,000 $8,000 $8,000 $8,000 :::

Eligible vehicles must have a manufacturer's suggested retail price (MSRP) below $80,000. Light-duty EVs or FCEVs purchased or leased between January 1, 2024, and January 1, 2029, with an MSRP below $35,000 may receive an additional tax credit of $2,500.

The credit amount for any qualifying truck is limited to the difference in manufacturer's suggested retail price between the qualifying truck and a comparable truck that operates on either gasoline or diesel fuel. Eligible purchased vehicles must be new, and eligible leased vehicles may not have a lease term of less than two years. The financing entity may collect an administrative fee of no more than $250.

For more information, see the Colorado Department of Revenue Individual Income Tax Guidance Publications and the Colorado Energy Office EV Tax Credits websites.

(Reference Colorado Revised Statutes 39-22-516.5, 39-22-516.7, and 39-22-516.8)

Enacted 2016-06-06. source

The Colorado Energy Office (CEO) provides grants through the Charge Ahead Colorado program to support EV and EV charger adoption by individual drivers and fleets. Grants will fund 80% of the cost of EV charger, up to the following amounts:

::: {data-align="center"} EV Charger Type Power Output Rating Maximum Incentive per Port ---------------------------------- ---------------------------- ---------------------------- Level 2 6 kilowatts (kW) or higher $7,000 Direct Current (DC) Fast Charger Less than 50 kW $7,000 DC Fast Charger 50 to 99 kW $30,000 DC Fast Charger More than 99 kW $40,000 :::

Enhanced incentives of up to 90% of the cost of a Level 2 EV charger are available for income qualified applicants and entities in disproportionately impacted communities. Eligible applicants include local governments; state and federal government agencies; schools and public universities; public transit agencies; private non-profit or for-profit corporations; multifamily dwellings; and owners associations of common interest communities. For more information, including application deadlines, see the CEO Charge Ahead Colorado website.

(Reference Colorado Revised Statutes 24-38.5-103)

Enacted 2009-06-04. source