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How to Save Big on a Tesla with Colorado’s New EV Tax Credit

EV Life

Electric vehicles are becoming more and more common on the roads across the country. With climate change awareness increasing, gas prices continuing to climb, EV charging stations expanding, and tons of new EV options hitting the market each year, it’s no surprise that electric vehicle purchases are skyrocketing.

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Colorado Electric Vehicle Tax Credit Rises to $5,000

EV Life

Great news for drivers looking to purchase an electric vehicle in Colorado! But the most exciting part of the new bill for many Colorado residents is the expansion of an additional Colorado Electric Vehicle Tax Credit for qualified drivers looking to purchase electric vehicles. What Are Electric Vehicle Incentives?

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How Do the Electric Vehicle Tax Credits Work?

Blink Charging

Federal tax credits for electric vehicles in the United States are complicated, especially with new changes for 2023. Under the current version of the Section 30D Clean Vehicle Credit (CVC), there are specific criteria that both the vehicle and taxpayer must meet. It does not act as a rebate (until 2024).

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Tesla supporters protest after IRA incentives shun popular BEVs, support hybrids

Teslarati

Tesla and electric vehicle supporters are responding negatively to the Inflation Reduction Act’s qualified cars for its EV incentive. However, a number of gas-powered hybrids actually do. Credit: US Department of Energy. Vehicles in the “All Other” category are maxed out at $55,000. .

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Tesla is most popular used EV brand in Carmax’s 2023 Electric Vehicle Consumer Report

Teslarati

CarMax, the United States’ largest used car retailer, has observed a significant increase in consumer interest in electric vehicles, particularly Teslas. The firm’s findings were outlined in the company’s 2023 Electric Vehicle (EV) Consumer Report. Don’t hesitate to contact us with news tips.

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EV Life is awarded CalSEED grant from the California Energy Commission to make financing electric cars cheaper than gas vehicles.

EV Life

The grant will fund the development of a fintech platform to empower EV buyers to save up to $200/month on electric vehicle loans. EV Life, a car site dedicated exclusively to electric vehicles, announced that it was 1 of 28 companies to win a CalSEED grant from the California Energy Commission (CEC).

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Colorado approves goal to make 82% of car sales electric by 2032

Teslarati

Colorado has voted to approve a new standard on the adoption of electric vehicles (EVs), with an additional goal set for 2032 and new guidance for increasing EV sales beginning in 2027. Notably, the release says that the standard does not prohibit the sale or use of non-electric vehicles with internal combustion engines (ICEs).

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