From supportive state policies to groundbreaking community initiatives, Colorado has emerged as a national leader in electric vehicle (EV) adoption. As battery costs fall and mileage ranges rise, our state has gone far to provide genuine fuel choice to motorists.
Central to Colorado’s early adoption of electric vehicles is the federal tax credit, which has brought over $75 million in benefits to Colorado over the past five years. Yet as tax reform efforts begin in Washington, this key incentive is threatened. The timing couldn’t be worse: Analysts see these cars approaching a tipping point where this credit is no longer necessary within just a few years. It is critical that Colorado Sens. Michael Bennet and Cory Gardner support extending the tax credit for this key period.
EV adoption is key to reducing our oil dependence. Oil dependence leaves the country vulnerable to oil price shocks, burdens the military to the tune of $67.5 billion every year in securing oil supply routes, makes addressing environmental issues more difficult, and sends American dollars to petrostates that don’t share our interests or values. In combination with distributed solar generation and new batteries, EVs can help integrate more renewable energy onto the electric grid and move us towards more resilient energy systems. EVs are also key to meeting federal ozone standards in the Front Range.
With favorable local and state policies, Colorado has already created a culture of EV adoption. Today, there are more than 10,000 EVs on Colorado’s roads compared with less than 100 in 2011. Colorado has the sixth highest EV market share in the nation, and the fourth-fastest growing EV market.
Supportive EV policies have placed the state at the leading edge of advocacy and adoption — a great example of this is the 2013 launch of Drive Electric Northern Colorado spurred by the Electrification Coalition. This first-of-its-kind community initiative created partnerships with the cities of Loveland and Fort Collins, Colorado State University and the Electrification Coalition, aimed at creating a model system to spur widespread EV adoption at a local level that can be replicated across the U.S.
The state government plays a leading role in improving EV charging infrastructure in Colorado and around the region. In partnership with Utah and Nevada, Colorado is developing a charging network across key highways including Interstate 70, Interstate 76 and Interstate 25. Within the state, authorities launched Charge Ahead Colorado to provide financial support for EVs and for charging equipment. Denver recently announced plans for 300 more charging stations, which creates jobs and lessens our dependence on foreign oil. The City of Aurora was recently honored with a Wired Workplace Award by the Colorado Energy Office for its proactive programs related to development of charging stations for EVs. Communities as diverse as Boulder, Durango and Garfield County have sponsored EV group buy programs that pool the buying power of the community to get great deals on EVs and spur many more people to switch to an EV.
Removal of the federal tax credit would be a bitter blow to Colorado’s continued market growth and EV leadership. We must not let Washington D.C. hurt Colorado’s competitive advantage in this space.
Colorado has already demonstrated leadership with smart incentives and policies to support EV adoption. The state provides an up to $5,000 point-of-sale state tax credit, the best in the country, and when combined with the federal $7,500 tax credit they can save Colorado car buyers as much as $12,500. These credits help Coloradans choose vehicles that are clean, innovative, and save them money at the pump.
As Congress pivots to tax reform, letap keep Colorado on the cutting edge of innovation. We are asking Sens. Gardner and Bennet to support our communities and others across Colorado by working to protect the federal tax credit for electric vehicles.
Steve Hogan is the mayor of Aurora. Suzanne Jones is the mayor of Boulder.
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