Tax incentives can help Coloradans afford electric vehicles, but that help is being reduced next year
The state of Colorado wants drivers to switch to an electric vehicle -- they're launching a new education and awareness campaign called "EV CO."
Colorado's goal is to have 940,000 electric vehicles on our roads by 2030. right now we have about 70,000. Colorado's Energy Office, a state agency, says switching could save you money, thanks to incentives from the government.
"This campaign is the first of its kind to be able to raise awareness about the benefits of driving electric," said Carrie Atiyeh, senior program manager at the Colorado Energy Office.
Colorado is launching its first-ever electric vehicle education campaign, "EV CO," hoping to convince Coloradans to go electric for the sake of the climate.
"Driving electric," Atiyeh says, "is one of the best ways that individuals can have an impact on our climate."
…And their wallets.
Any Coloradan can qualify for a $2,500 state tax credit when they buy a new electric vehicle and $1,500 when they lease one. Certain vehicles also qualify for up to $7,500 in federal credits.
"A Coloradan today can save up to $10,000 on the purchase price of a new EV," Atiyeh said.
She also says you can also save on fuel costs.
"Consumers will see about a two-thirds to three-fourths reduction in their fuel cost when they're fueling with electricity compared to gas prices today."
And to combat concerns over finding a place to charge, the state is investing $25 million in electric vehicle charging infrastructure.
Colorado currently ranks fifth in the country for electric vehicle registrations this year.
Now the state is hoping to become more of a climate leader by tackling the number one source of greenhouse gas emissions: transportation.
"It's really important that we identify opportunities to reduce air quality impacts and reduce our greenhouse gas emissions from the transportation sector," Atiyeh said.
The campaign will use a new website and social media to connect Coloradans with resources about making the switch to electric.
And you may want to act fast because that $2,500 state tax credit drops to $2,000 in 2023.
For more information, visit evco.colorado.gov.
