“The U.S. government on Tuesday ended federal tax credits for electric vehicle purchases, but potential buyers in Colorado soon won’t take as much of a hit on incentives offered to them.
The state’s Vehicle Exchange Colorado already offers point-of-sale electric vehicle rebates for buyers, and come Nov. 3, the rebate amount will increase by thousands of dollars.
The Colorado Energy Office on Thursday announced the rebate amount will increase from $6,000 to $9,000 for new electric vehicle purchases and leases and from $4,000 to $6,000 for used electric vehicle purchases and leases.
‘The market has made it clear, EVs are here to stay,’ Polis said in a press release. ‘Colorado is a national leader in EVs, expanding access and creating pathways for Coloradans to purchase an EV at low-cost. I encourage all Coloradans who are thinking of buying an electric vehicle or have been holding off: get out there right now.’”
Launched in 2017 by the governors of Washington, New York, and California to help fill the void left by the U.S. federal government’s withdrawal from the Paris Agreement, the Alliance has grown to include 24 governors from across the U.S. representing approximately 60 percent of the U.S. economy and 55 percent of the U.S. population. Governors in the Alliance have pledged to collectively reduce net greenhouse gas emissions by at least 26-28 percent by 2025, 50-52 percent by 2030, and 61-66 percent by 2035, all below 2005 levels, and collectively achieve overall net-zero greenhouse gas emissions as soon as practicable, and no later than 2050.
The Alliance’s states and territories continue to advance innovative and impactful climate solutions to grow the economy, create jobs, and protect public health, and have a long record of action and results. In fact, the latest data shows that as of 2023, the Alliance has reduced its collective net greenhouse gas emissions by 24 percent below 2005 levels, while increasing collective GDP by 34 percent, and is on track to meet its near-term climate goal of reducing collective greenhouse gas emissions 26 percent below 2005 levels by 2025.
###
