On top of the purchase incentives available for Coloradans, the state is also working to expand options for EV owners to charge in public
Denver—Colorado Governor Jared Polis and Colorado Energy Office Executive Director Will Toor announced on Wednesday that Colorado has passed California to reach the highest EV market share of any state in the nation, according to Northeast States for Coordinated Air Use Management (NESCAUM).
Newly released data from NESCAUM comparing EV sales across all U.S. states shows that in the Q3 of 2024, Colorado passed California to become the top state in the country for EV Sales, with EVs making up 25.3% of new vehicles sold in the state (82% of EVs sold in Colorado were full electric vehicles with the remaining 18% being plug-in hybrid electric vehicles).
Earlier this year, according to the Colorado Automobile Dealers Association, Colorado became second in the country in EV sales in 2024 through the first nine months of the year.
All Coloradans are currently eligible for a $5,000 state tax credit for purchasing or leasing a new EV (battery electric and plug-in hybrid electric) with a manufacturer’s suggested retail price (MSRP) under $80,000, and an additional $2,500 for EVs with an MSRP under $35,000. The $5,000 state tax credit is available through the end of this year, before decreasing to $3,500 starting in 2025.
Income-qualified Coloradans exchanging an eligible old or high-emitting vehicle can also take advantage of a $6,000 rebate through the Vehicle Exchange Colorado program for a new EV purchase or lease and a $4,000 rebate for a used EV purchase or lease.
In addition, Coloradans may be eligible for a $7,500 federal tax credit for a new EV lease, and for the purchase of certain EV models that meet specific manufacturing requirements. A $4,000 federal tax credit is available for used EV purchases and leases.
On top of the purchase incentives available for Coloradans, the state is also working to expand options for EV owners to charge in public. To date there are over 5,500 publicly available charging ports across the state and the state has already awarded over $5 million to install an additional 576 ports in 2024 via the Charge Ahead Colorado program.
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