New program aims to make electric vehicles more accessible for low, moderate-income Coloradans

New program will make electric vehicles more accessible for low to moderate-income Coloradans
Posted at 9:40 PM, Dec 08, 2022

DENVER — Trading an old clunker for an electric vehicle may soon be a reality for low to moderate-income Coloradans, thanks to a program the state plans to launch early next year.

The Colorado Energy Office's "Vehicle Exchange Colorado" program aims to make the initial investment of an electric vehicle (EV) more affordable.

"In part due to cost, many low- to moderate-income people in Colorado have not had access to electric vehicles," said Ari Rosenblum, a spokesperson for the Colorado Energy Office. "The goal of this program is to increase access to electric vehicles and other zero-emissions transportation alternatives by reducing their upfront costs and making cost less of a barrier. Increasing access to EVs will increase the number of EVs on Colorado roads and move us closer to our goal of 940,000 EVs on the road by 2030."

The program is an extension of a robust transportation funding package signed into law last year. Colorado Senate Bill 21-260 aims to clean up transportation, which is currently Colorado's largest source of greenhouse gas pollution.

The Colorado Energy Office says the program is still being developed, but it will offer financial incentives to eligible Coloradans for replacing older, high emission vehicles with zero emission vehicles (EVs).

In late November, the agency launched a survey to receive public feedback about the program. A spokesperson told Denver7 nearly 3,000 responses had been received as of Dec. 8.

The development of the vehicle exchange program comes as the state also seeks input on its 2023 Electric Vehicle Plan, which includes a plan increase electric medium to heavy-duty vehicles on Colorado's roadways.