Electric vehicles (EVs) offer a range of benefits, both to vehicle owners and also to our community through impacts to public health, air quality, and the climate. This page provides information to assist residents in understanding more about EVs, including costs and incentives, charging opportuntiies, and more.
Electric Vehicle Resources and Information
You may qualify for up to $21,000 towards buying or leasing a new EV and up to $8,000 towards buying a used EV. The state EV tax credit will decrease starting in 2025. It is possible that the federal EV tax credit will also change come January. So, consider acting now for best savings! Scroll down to learn more.
Benefits of Electric Vehicles
- Cost savings – reduce costs on fuel and maintenance. On average, it costs 50% less to drive an all-electric vehicle over a gasoline-powered vehicle. The array of current incentives makes purchasing an EV more affordable than ever!
- Environmentally friendly – EVs reduce carbon pollution and improve our air quality. They also contribute to a healthy community, by reducing air pollutants that contribute to asthma.
- Convenient charging – charge your EV at home with either a standard 120-volt wall outlet or a 240-volt charger. Also, more and more workplaces and shopping centers are offering affordable public charging with premium parking spots.
Types of EVs
Electric Vehicles
An all-electric vehicle (EV) uses electrical energy from rechargeable batteries to power an electric motor. EV batteries are charged by plugging the vehicle into an electric power source. Depending on the vehicle model, electric vehicles have a driving range of 100 to 330 miles per charge.
An all-electric vehicle does not have an internal combustion engine so it requires no gasoline and no oil changes. The car is clean and quiet with exceptionally little maintenance.
Plug-In Hybrid Electric Vehicles
A plug-in hybrid electric vehicle (PHEV) runs on both electrical energy and gasoline. Thus, it has two motors, an electric motor and a conventional internal combustion engine (ICE). PHEVs will first run on battery power and then use gasoline. Batteries in PHEVs use electric power to drive 10 to 54 miles per charge and then the internal combustion engine provides approximately an additional 300 miles.
The majority of Coloradans’ commute distances are fulfilled by all-electric vehicles. However, a PHEV could be a good option if you need a longer range and don’t have the option of home or workplace charging.
EV Discounts
You may qualify for up to $21,000 towards the purchase of a new EV and up to $8,000 for a used EV. Many Boulder County residents are eligible for some or all of these discounts, which can be stacked together.
The exact amount of your discount will depend on the make/model of your EV/PHEV, the purchase price, your income, your tax liability, and whether you are leasing or purchasing the vehicle.
The table below outlines each stackable discount that Boulder County residents may be able to access. As deals are always changing, it is a great idea to reach out to a Colorado ReCharge coach or your local dealerships to see what options may be available to you. Boulder County cannot guarantee your eligibility for any program; please consult with a financial or tax professional to confirm your eligibility.
Incentive Details
| Incentive | Max Discount for New EV | Max Discount for Used EV | Qualifications |
| Federal Tax Credit | $7,500 (May change in January 2025) | $4,000 (May change in January 2025) | Income, vehicle make/model/VIN and sale price, purchase date, tax liability |
| State Tax Credit | $7,500 ($6,000 in 2025) | N/A | Vehicle sale price and purchase date. Available only to CO residents |
| Vehicle Exchange Colorado (VXC) | $6,000 | $4,000 | Income, sale price, participating auto dealer. Available only to CO residents who are recycling an old car |
| Maximum Total Incentive | $21,000 (less in 2025) | $8,000 (less in 2025) | - |
Selecting an EV
There are many great EV/PHEV models to fit your budget and lifestyle. Browse this buyer’s guide to get started.
Visit this federal website for an updated list of vehicles that are likely to be eligible for the federal tax credit.
For help navigating which specific EV/PHEV models are eligible for tax credits and rebates, please consult EV coaches through ReCharge Colorado.
Cost of Ownership
Electricity is cheaper than gasoline. In March 2017, the U.S. Department of Energy completed a study that found driving an electric vehicle costs half as much as driving a conventional gas vehicle. For example, on average the cost of one gallon of gasoline is $2.32, where the cost of an equivalent gallon of electricity is $1.11. In addition, the Union of Concerned Scientists published a report that estimates $558 savings per year on fuel costs.
Maintenance is another key point to understand when thinking about cost of ownership. There are big cost saving opportunities here, as electric vehicles require less maintenance compared to internal combustion engine vehicles.
Charging Your EV
The time it takes to fully charge your EV is based on the level, or speed, of charging. A benefit of all-electric vehicles is the convenience of charging your vehicle at home overnight and never needing to go to a public gas station again!
| Type of Charging | Volts | Charge Time | Primary Location |
| Level 1 | 120 volts | 40 miles of range in 8 hours of charging. Charging overnight is typically sufficient for those without a long commute. | Home |
| Level 2 | 240 volts | 25 miles of range per hour of charging. 3 to 8 hours for a full charge. | Home, Workplace |
| Level 3 (DC Fast Chargers) | 480+ volts | 80 to 100 miles of range in 20 to 30 minutes of charging. | Public, Interstate Corridors |
Charging at home is typically Level 1 or Level 2 charging.
Level 1 charging occurs through the standard outlet for homes in the U.S. If you already have an outlet in your garage, this type of charging is convenient and low cost. However, you do need a dedicated branch circuit to charge, and we recommend speaking with an electrician to ensure safety and proper connectivity. 80% of Coloradans drive less than 30 miles per day. If that’s you, Level 1 charging overnight with a regular outlet will meet your daily driving needs.
Some EV owners choose to purchase a Level 2 charging station which charges through a 240 Volt AC plug (like a dryer or stove plug). On average, the cost for the Level 2 equipment and installation service is ~$1,000.
Federal Tax Credit for Home Charging
In addition to the tax credits available for the purchase of electric vehicles, there is a federal tax credit available for residents to offset the cost of home charging equipment and installation. The federal government offers a tax credit of 30%, up to $1,000, for the purchase and installation of at-home Level 2 charging in eligible areas. For more information and eligibility requirements, visit the IRS website here. Consult your tax advisor about your eligibility to receive the tax credit.
Xcel Energy – Home Wiring Rebate
Xcel Energy offers their electrical customers up to $500 towards the purchase and installation of a Level 2 home charger through their Home Wiring Rebate program. Income-qualified customers can receive up to $2,300. For more information, visit Xcel Energy’s website here.
United Power – EV Charging Incentives
- EV Ready-Make Wiring Rebate: Eligible customers of United Power can receive up to $1,000 towards the cost of wiring associated with the installation of a Level 2 home charger. Apply for the rebate here.
- United EV Home Charging: Eligible customers of United Power can opt into a service agreement where they receive a ChargePoint Home Flex Level 2 Charger for $19 per month. Installation and maintenance are included.
To learn more about United Power’s home charging incentives, visit the United Power website.
It’s important to choose an electrician who is licensed and insured to make any home charging upgrades. We recommend choosing an electrician who is knowledgeable about electric vehicles and the associated equipment when installing charging at home. Search Xcel Energy’s list of qualified electricians to find qualified installers with EV experience in your area.
While most EV and PHEV owners choose to charge their vehicles at home, there are many charging options around town for convenient fueling on-the-go. Charging stations can be found while running errands such as grocery store, retail, library, gym, and restaurant locations. Be sure to ask your employer about workplace charging too.
Plugshare is a free phone app and website that helps EV owners locate charging stations. It is considered the most up-to-date and comprehensive platform for public charging. Plugshare also provides the ability to reserve a charging station, filter which level of charging station you want (i.e. Level 1, 2, or 3), filter which stations are compatible with your vehicle, and receive notifications when new charging stations have been installed nearby. For more information, visit the PlugShare customer support page.
You may want to power your home EV charging with a rooftop solar PV system for an even greater environmental impact and carbon neutral lifestyle. EnergySmart serves all residents in Boulder County with free, unbiased advising and can help answer questions you may have, such as:
- How to charge your EV with solar
- Which EV model may be right for your lifestyle
- Rebates on installations for rooftop solar PV
- Pre-vetted contractors for home energy upgrades
Visit the EnergySmart website or call 303-544-1000 to talk to an advisor.
While most electric vehicle charging takes place at home, providing EV charging stations at work has been demonstrated to make employees 20 times more likely to purchase an EV. Businesses in Boulder County are encouraged to explore the installation of EV Charging Stations at their commercial property to increase the adoption of EVs and to provide a great amenity to both your employees and customers.
Incentives are available for EV charging through state, federal, and utility incentives. Visit the PACE transportation website for more information and contact ReCharge Coach Jenna Wyatt at 720-803-0553 or jenna@drivecleanco.org for free, unbiased assistance.