Colorado is offering residents an extra $6,000 rebate for driving new electric vehicles through the Vehicle Exchange Colorado Program.
The Centennial State began accepting applications on Aug. 31 for EV rebates up to $6,000 for new vehicles and up to $4,000 for used ones, according to Electrek. To qualify for the program, drivers must turn in gas-guzzling cars that are either at least 12 years old or have failed emissions tests.
The best part is that these Colorado-exclusive rebates don’t cancel out or overlap with federal programs, which means that they can be stacked on top of a $7,500 credit from the Inflation Reduction Act for a total of $13,500 in savings on your EV.
Certain income-related qualifications limit who can access the program. Your household’s income must be under 80 percent of your area’s median income. This is because the program specifically targets lower-income drivers, as opposed to people who can already afford to drive EVs. Boulder, Colorado, residents in four-person households must make under $106,240 to qualify for the rebate. The complete list of county-specific parameters can be found here.
The cost of the EV in question must also be under $50,000 after all the rebates and discounts, according to Electrek.
It’s crucial to embrace EVs and clean energy as the planet continues to dangerously overheat in part because of dirty energy sources that traditional vehicles burn. The average car typically emits more than 100,000 pounds of carbon pollution each year it’s in use, and passenger vehicles worldwide produce around 3.3 billion tons of carbon pollution every year. EVs, on the other hand, produce none.
Program manager Ed Piersa told The Denver Post that the program will be “beneficial to all Coloradans.”
“It’s one we hope to have in existence for years in the future — knock on wood,” he added of the vehicle exchange program.
Join our free newsletter for cool news and actionable info that makes it easy to help yourself while helping the planet.