Electric Vehicle Income Tax Credit

December 31, 2021

Summary

The State of Colorado offers an income tax credit for the purchase or lease of an electric motor vehicle, a plug-in hybrid motor vehicle, or an original equipment manufacturer electric/plug-in hybrid electric truck.

Program Overview

Implementing Sector: State
Category: Financial Incentive
State: Colorado
Incentive Type: Personal Tax Credit
Web Site: https://leg.colorado.gov/bills/hb19-1159
Administrator:
Start Date:
Eligible Renewable/Other Technologies: Passenger Electric Vehicles,Plug-in Electric Hybrid Vehicles,Medium-Duty Electric Vehicles,Heavy-Duty Electric Vehicles
Incentive Amount: Light-duty or PHEV: $2,500 purchase or conversion / $1,500 lease
Light-duty truck: $3,500 purchase or conversion / $1,750 lease
Medium-duty truck: $5,000 purchase or conversion / $2,500 lease
Heavy-duty truck: $10,000 purchase or conversion / $5,000 lease
* Incentive amounts began stepping down in 2020

Incentives

This program has 3 incentives
Technologies: Plug-in Electric Hybrid Vehicles
Sectors: Commercial, Residential
Parameters: The incentive has a minimum of $2500.00
Technologies: Medium-Duty Electric Vehicles
Sectors: Commercial, Residential
Parameters: The incentive has a minimum of $5000.00
Technologies: Heavy-Duty Electric Vehicles
Sectors: Commercial
Parameters: The incentive has a minimum of $10000.00

Authorities

Name: CRS 39-22-516
Name: H.B. 1159 (2019)

This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.