I know we are mostly focused on EVs but I love seeing the heat pump rebate. Just got my first heat pump installed earlier this year and it’s fantastic. I only have to use natural gas when it gets below 0 which is rare here.Saw this in the news about CO increasing EV credit and sounds like they want to make it happen soon.
Among the proposed tax credits:
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.
- 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.