With the average range of electric vehicles (EVs) now up to 181 miles, these vehicles are an optimal money and carbon saving option for the average southern Colorado commuter. If your household has more than one car, having a gas-powered vehicle for longer trips and an EV for nearly all daily commuting can pay off quickly!
Whether or not you’ve already invested in an electric vehicle, we want to make sure that you’re aware of all special EV rates, rebates, tax incentives, and special energy pricing that may be available to you.
Time of Day Rates
When you install electric vehicle charging equipment as a SIEA member, you qualify for our Time of Day rate. This allows you to save money on your electric bill by charging electric vehicles and using electricity during off-peak times, when power is cheaper.
| Residential Time of Day Electricity Rates:
Access Charge: $30.00 Energy Charge:
|
Commercial Time of Day Electricity Rates:
Access Charge: $31.00 Energy Charge:
|
| Summer Months (May 1 – August 31)
On-Peak:
Off-Peak:
|
Winter Months (September 1 – April 30)
On-Peak:
Off-Peak:
|
Residential member-owners who choose to charge their electric vehicles at home, during off-peak hours can pay as little as the equivalent of $0.59 per gallon of gasoline, depending on the amount of electricity used during the billing cycle!
Note: Time of Day rates can be applied in conjunction with a rooftop photovoltaic system, but it is not always financially advantageous to do so. Please contact your local SIEA representative to discuss your options: empower@wordpress-666784-2187745.cloudwaysapps.com or 800-279-7432 (SIEA).
Rebates
| Item | SIEA Rebate | BHE Rebate | Details | Learn More |
| Electric Vehicle | $500 | When you purchase a qualified electric vehicle (EV). | SIEA’S EV PAGE | |
| Level 2 (240 V) Charging Equipment | 50% of equipment cost up to $250 | Up to $500 | Must be a qualified charger installed by a qualified/licensed electrician. | SIEA’S EV PAGE
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| Installation of Level 2 (240 V) Charging Equipment | 50% of installation cost up to $250 | |||
| Networked Level 2 Equipment & Installation | 50% of cost up to $1,000 | Business: Up to $2,000 per port
Government: Up to $3,000 per port |
SIEA: Must be network-capable and allow public accessibility.
BHE: Must be a qualified network provider and operated for at least 5 years.
Networked charging stations are connected remotely to a larger network and are part of an infrastructure system of connected chargers. |
SIEA’S EV PAGE
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| Direct Current Fast Charger (DCFC) Charger Rebate (50-99 kW) | 50% of cost up to $3,000 | Includes purchase and installation. | SIEA’S EV PAGE | |
| Direct Current Fast Charger (DCFC) Charger Rebate (100 kW+) | 50% of cost up to $5,000 | Includes purchase and installation. | SIEA’S EV PAGE |
Tax Credits
Note: These tax credits are not guaranteed and your eligibility for income tax credits depends on your personal tax situation. Consult a tax professional to see if your purchases and installations qualify.
| Item | Credit | The Fine Print |
| Electric Vehicle | $2,500 – $7,500 | LEARN MORE |
| Residential Charging Equipment | 30% of cost, up to $1,000 | LEARN MORE |
| Commercial Charging Equipment | 30% of cost, up to $30,000 | LEARN MORE |
Electric Vehicle Charging
Charging your EV requires plugging into a charger connected to the electric grid, also called electric vehicle supply equipment (EVSE). There are three major categories of chargers, based on the amount of power the charger can provide:
AC Level 1
Provides charging through a 120 V AC plug (this can be a regular wall outlet) and does not require installation of additional charging equipment. Level 1 can typically deliver two to five miles of range per hour of charging. Level 1 is most often used in home applications but is sometimes used at workplaces. A full charge may take up to 24 hours with level-1 120 V charging.
AC Level 2
Provides charging through a 240 V plug and requires the installation of additional charging equipment by a qualified electrician/installer. Level-2 chargers typically deliver 10 to 20 miles of range per hour of charging. Level 2 is used in homes, workplaces and for some public charging. Level 2 charging systems provide slight energy efficiency benefits over level 1 chargers – savings estimates vary based on length of charge time.
DC Fast-Charge
Provides charging through 480 V AC input and requires specialized, high-powered charging equipment and special equipment in the vehicle itself. DC Fast-Charging can deliver an 80 percent battery charge or 60 to 100 miles of range for most EV models in about 20-30 minutes of charging. This format is used in public charging stations, especially along heavy-traffic corridors. Plug-in hybrid electric vehicles typically do not have fast charging capabilities.
Learn More
Contact your SIEA Empower Team to discuss rebates and charging options that may be best for you: empower@wordpress-666784-2187745.cloudwaysapps.com or 800-279-7432 (SIEA).
Visit our EV Education page to learn about current EV and PHEV models, run our savings calculator, see a local EV charging map, and apply for rebates: https://siea.com/empowereveducation/.
Additional information about vehicle electrification in Colorado can be found at drivecleancolorado.org.
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