Colorado Checking In

[CUBldr97]

It’s time! May 2019 reservation, R1S

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[DTown3011]

Loving all these Colorado deliveries!!!

 

[josephponline]

It’s time! May 2019 reservation, R1S

My last 7 days were tougher than the first 300+ … here’s hoping you stay well distracted and that the time flies for you.

 

[DTown3011]

Posted a few initial thoughts and photos here: (2) 1 week in and in LOVE, but not without some quirks - my R1T delivery summary and initial thoughts! | Rivian Forums - R1T R1S R2 Owners, News, Discussions, RIVN Stock

 

[JKDU]

Saw this in the news about CO increasing EV credit and sounds like they want to make it happen soon.

https://www.cpr.org/2023/03/08/colorado-clean-energy-incentives-proposal/

Among the proposed tax credits:

• Heat pumps. $3,000 for ground-source heat pumps, $1,500 for air-source heat pumps, and $500 for water heaters with electric heat pumps, with the value of the credits declining in future years.
• E-bikes. New tax credits for retailers for providing consumers a $800 discount on every qualifying e-bike sale to a Colorado resident.
• Light-duty EVs. An extension and expansion of the current $2,000 state tax credit, making it worth up to $5,000 through 2025. It would then ramp down to $500 in 2028. The credit would be stackable with existing federal and utility incentives.
  • Additional $2,500 credit for EVs below $30,000
• Medium- and heavy-duty EVs. An extension and expansion of the current $4,000 medium-duty and $8,000 heavy-duty state tax credits, raising both to $12,000 through 2025.

Not a ton of details in the news article but I believe based on the weight of the R1S (and I think R1T) that my upcoming Rivian R1S would qualify for the $12,000 CO tax credit....assuming it passes as proposed.

 

[zefram47]

Saw this in the news about CO increasing EV credit and sounds like they want to make it happen soon.

https://www.cpr.org/2023/03/08/colorado-clean-energy-incentives-proposal/

Among the proposed tax credits:

• Heat pumps. $3,000 for ground-source heat pumps, $1,500 for air-source heat pumps, and $500 for water heaters with electric heat pumps, with the value of the credits declining in future years.
• E-bikes. New tax credits for retailers for providing consumers a $800 discount on every qualifying e-bike sale to a Colorado resident.
• Light-duty EVs. An extension and expansion of the current$2,000 state tax credit, making it worth up to $5,000 through 2025. It would then ramp down to $500 in 2028. The credit would be stackable with existing federal and utility incentives.
  • Additional $2,500 credit for EVs below $30,000
• Medium- and heavy-duty EVs. An extension and expansion of the current $4,000 medium-duty and $8,000 heavy-duty state tax credits, raising both to $12,000 through 2025.

Not a ton of details in the news article but I believe based on the weight of the R1S (and I think R1T) that my upcoming Rivian R1S would qualify for the $12,000 CO tax credit....assuming it passes as proposed.

Unfortunately for me, the EV tax credit expansion hasn't even been introduced yet, only the outline in the news. Several of the other bills are already under consideration though. My R1T is likely to come by the end of the month or beginning of April.

 

[DTown3011]

Unfortunately for me, the EV tax credit expansion hasn't even been introduced yet, only the outline in the news. Several of the other bills are already under consideration though. My R1T is likely to come by the end of the month or beginning of April.

Both The R1T and the R1S have a GVWR of just over 8500 pounds so they would be in the light truck category.

 

[JKDU]

Both The R1T and the R1S have a GVWR of just over 8500 pounds so they would be in the light truck category.

You are correct. I think I was remembering an older article I saw that classified it as a medium duty EV but that author was incorrect. Thanks for correcting that it's a light duty EV.

 

[Andystroh]

just since it’s relevant here - I received the 3500 tax credit for 2022 purchases this week. I know there has been some uncertainty about that… I submitted the state documents and my bill of sale through the web uploader on the Colorado Tax site right after submitting my tax return electronically.

 

[DTown3011]

just since it’s relevant here - I received the 3500 tax credit for 2022 purchases this week. I know there has been some uncertainty about that… I submitted the state documents and my bill of sale through the web uploader on the Colorado Tax site right after submitting my tax return electronically.

awesome and should be $2800 in 2023

 

[Andystroh]

awesome and should be $2800 in 2023

That’s great, it makes the purchase price hurt a little bit less for sure

 

[Aardvark]

Here's a good summary of the draft state legislation for new EV incentives. Too many moving parts in the article to summarize but one item I found interesting is an additional upfront rebate if an older gas powered car is traded in.

https://coloradosun.com/2023/03/10/...colorado/?mc_cid=1c1f15f06a&mc_eid=0ebe7b51c4

 

[zefram47]

Here's a good summary of the draft state legislation for new EV incentives. Too many moving parts in the article to summarize but one item I found interesting is an additional upfront rebate if an older gas powered car is traded in.

https://coloradosun.com/2023/03/10/...colorado/?mc_cid=1c1f15f06a&mc_eid=0ebe7b51c4

That article also says they expect it won't take effect until mid-July. Definitely won't help me, but hopefully will help the target demographic with some nice tax benefits (some refundable vs credit) to get into an EV.

 

[Swilly]

Here's a good summary of the draft state legislation for new EV incentives. Too many moving parts in the article to summarize but one item I found interesting is an additional upfront rebate if an older gas powered car is traded in.

https://coloradosun.com/2023/03/10/...colorado/?mc_cid=1c1f15f06a&mc_eid=0ebe7b51c4

Maybe I am reading this wrong, but wouldn’t this trade in rebate only be helpful if the car you are trading in is worth less than $6K? Maybe that’s the case anyway for an 12 year old car, but the value to the individual is still only the $6K minus the car’s value income and car purchase price restrictions make this worthless for me, but I am interested to see how it works. If I wasn’t income restricted and was buying something under $50K, I would be buying the cheapest pre-2011 car that can be registered in CO right about now.

 

[Sgt Beavis]

I just finished my taxes a couple days ago. That $7800 fed credit and $3500 Colorado credit really helped me out. I sold an acre plot in Fairplay, last summer, for a pretty sizable profit. Those credits helped out a lot.

I’m trying to decide if it would be better to bank the refund I got or use it to pay down the R1T. I had originally planned to refi the loan but the rates are too high for that to make sense.

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