Colorado taxpayers are eligible for a $5,000 state tax credit when you purchase or lease a new EV with an MSRP up to $80,000. Lease agreements must have an initial term of at least two years. EVs under $35,000 MSRP are eligible for an additional tax credit of $2,500. To learn more,
Up to $7,500 in state tax credits!
Depending on the EV, Coloradans could be eligible for even more tax credits when also including the $7,500 federal tax credit for fully electric vehicles. To see eligible vehicles,
See even more savings with the federal EV tax credit
30% off home charging
The federal government offers a tax credit of 30% off the purchase and installation of at-home Level 2 charging, up to $1,000. To learn more,
click here
. If you&#;ve purchased an EV charger for your home, visit the
IRS website
to learn how to claim this deduction on your taxes.
Link to ailai
An alternative to a panel upgrade is a circuit sharing device. It allows two appliances, such as an electric clothes dryer and an EV charger, to share the same circuit. View SMUD incentives for circuit and other energy management devices.
Does SMUD offer rebates or incentives for installing an EV charger at my home?
Yes. If you decide Level 1 charging doesn&#;t meet your needs, the SMUD Charge@Home program offers customers up to $750 toward EV charging equipment and installation costs. Learn more about the Charge@Home incentive and view eligible EV chargers.
Do I need a panel upgrade to install an EV charger at my home?
Not necessarily. A circuit sharing or energy management device is an alternative to a circuit panel upgrade and can save you money.
A circuit sharing device allows two appliances, such as an electric clothes dryer and an EV charger, to share the same circuit.
An energy management device can control your EV charger to avoid overloading your main breaker.
SMUD offers an up to $200 rebate on circuit sharing and energy management devices. If you&#;re considering one of these devices and have more questions, you can contact a SMUD EV Advisor to discuss your personal charging needs.
Learn more about EV charging and your electrical panel.
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