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Electric Vehicles

Electric vehicles (EVs) are gaining in popularity and IREA customers have expressed the need for more information. IREA wants to help. Some information and resources are below.

• Colorado residents who purchase an electric vehicle can expect a state tax credit of $2,500 – or more for an electric truck – through the end of 2022, and lower credits in subsequent years.

• Colorado has nearly 800 electric vehicle charging stations, the seventh-most in the nation.

• Electric vehicles convert about 60% of electricity from the grid into wheel power. Conventional gas vehicles convert only about 20% of gasoline energy into wheel power.

• More than 100 models are expected to be available by 2022.

Below are links to resources that will help you select and get the most out of an electric vehicle.

EV Buying Guide

Fuel Economy Info

Colorado Credits

Charging Stations

Vehicle Cost Calculator

EV Etiquette

Colorado Plug-In Electric Vehicle (PEV) Tax Credits

Vehicle category
2021-2022
2023-2025
Light-duty EV or PHEV
$2,500 for purchase
or conversion;
$1,500 for lease
$2,000 for purchase
or conversion;
$1,500 for lease
Light-duty electric truck
$3,500;
$1,750
$2,800;
$1,750
Medium-duty electric truck
$5,000;
$2,500
$4,000;
$2,500
Heavy-duty electric truck
$10,000;
$5,000
$8,000;
$5,000
Source: U.S. Department of Energy Alternative Fuels Data Center
IREA's board of directors has approved changes to the association's rates and regulations that will go into effect in September. For additional info, visit our Rate Redesign page.
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