EV INCENTIVES

EV & Plug-In Hybrid Incentives (Federal + CO)

Federal Incentives

Clean Vehicle Tax Credit (New EVs & PHEVs)

  • Up to $7,500 off a new EV or plug-in hybrid.

  • Income limits apply (no more than $150k single / $300k joint).

  • Vehicle price caps (cars under $55k, SUVs/trucks/vans under $80k).

  • Runs through September 30, 2025 (point-of-sale credit starts in 2024).

Used Clean Vehicle Credit

  • Up to $4,000 off a used EV or plug-in hybrid (or 30% of price, whichever is less).

  • Vehicle must be at least 2 years old and cost under $25,000.

  • Income limits apply (no more than $75k single / $150k joint).

  • Runs through September 30, 2025.

Colorado Incentives

Colorado State EV Tax Credit (New EVs & PHEVs)

  • $5,000 credit for a new EV or PHEV purchased or leased in 2025–2026.

  • $2,500 credit continues in later years (through at least 2029).

  • Extra $2,500 bonus if the car’s MSRP is under $35,000 (through 2026).

Used EV Tax Credit (Colorado)

  • $1,500 credit for a used EV or PHEV purchased or leased in Colorado.

  • Available through 2026.

https://afdc.energy.gov/laws/fed_summary?technologies=ELEC,PHEV