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Colorado introduces tax credit to help slash cost of new EVs by one quarter

The Driven EV News

Colorado has introduced a new EV tax credit which combined with federal incentives will reduce the cost of a Model Y by one quarter. The post Colorado introduces tax credit to help slash cost of new EVs by one quarter appeared first on The Driven.

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The EV Tax Credit: Buy Now or Wait Until 2024?

EV Life

The Treasury Department just released new guidance that will enable consumers to use their $7500 EV tax credits more like an upfront rebate starting in January 2024. However, new vehicle requirements are also taking effect that raise questions about which vehicles will still qualify for tax credits in the new year.

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J.D. Power: EV price pressure grows as government incentives and lease deals wield outsized influence on consumer demand

Green Car Congress

The first evidence can be seen in consumer interest in the Ford Mustang Mach-E and the Tesla Model Y following the reclassification of both vehicles as SUVs, which made them eligible for a $7,500 federal tax credit under the Inflation Reduction Act. Likewise, the Bolt EUV has seen its total cost of ownership fall to $30,900.

Price 404
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A Guide to Colorado EV Incentives for Business Owners

EV Connect

Federal tax credits for electric vehicles have been extended through 2021, and the Clean Energy for America Act would extend those credits even further. Additionally, the tax credit would only expire once 50% of new cars sold in the US are EVs.

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Boost Your Savings: Best US States for Electric Vehicle Incentives

Setec Powerr

Colorado Colorado offers a state tax credit of up to $4,000 for the purchase or lease of a new electric vehicle. This credit is available for both new and used EVs and applies to both residents and businesses. New York New York State provides a rebate of up to $2,000 through the Drive Clean Rebate program.

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How Federal and State Government Incentives Make It Easy to Become an EV Owner

Blink Charging

Federal Incentives for Purchasing an EV Among the federal government’s incentives for drivers, you can find tax breaks for both new and used EVs that are in place until the end of 2032. Beginning in 2024, the consumer clean vehicle tax credits can be available at the point of sale by transferring your credit to the dealership.

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Electric Vehicle Spotlight: Financing Tesla Cybertruck 

EV Life

There are state programs that offer you money to retire your older, gas-powered vehicles , rebates to cover the cost of home EV charger stations and installation, and plenty of local EV incentives that include free charging locations, toll discounts, carpool and express lane stickers, and more. Available EV Incentives Federal Tax Credit.