Electric Vehicles

Electric vehicles (EVs) are gaining in popularity and CORE members have expressed the need for more information. We want to help. Some information and resources are below.

  • Colorado residents who purchase an electric vehicle can expect a state tax credit of $2,500 – or more for an electric truck – through the end of 2022, and lower credits in subsequent years.
  • Colorado has nearly 800 electric vehicle charging stations, the seventh-most in the nation.
  • Electric vehicles convert about 60% of electricity from the grid into wheel power. Conventional gas vehicles convert only about 20% of gasoline energy into wheel power.
  • More than 100 models are expected to be available by 2022.

Colorado Plug-In Electric Vehicle (PEV) Tax Credits

Vehicle category 2021-2022 2023-2025
Light-duty EV or PHEV $2,500 for purchase or conversion;
$1,500 for lease
$2,000 for purchase or conversion;
$1,500 for lease
Light-duty electric truck $3,500;
$1,750
$2,800;
$1,750
Medium-duty electric truck $5,000;
$2,500
$4,000;
$2,500
Heavy-duty electric truck $10,000;
$5,000
$8,000;
$5,000

Source: U.S. Department of Energy Alternative Fuels Data Center