Colorado EV Tax Credit 2026 & 2027: State Credits, VXC Rebates and Eligible Chevy EVs
Last updated September 29, 2026 | Checked against Colorado Department of Revenue and Colorado Energy Office guidance | Emich Chevrolet, Lakewood, CO
Colorado still pays you to drive electric, even after the federal $7,500 credit ended. In 2026 the state’s Innovative Motor Vehicle Credit is worth $750 on a new EV, or $3,250 when the EV’s MSRP is under $35,000. On January 1, 2027 the credit rises to as much as $4,500 under a law signed in June 2026, and income-qualified drivers can stack a $9,000 Vehicle Exchange Colorado (VXC) rebate on top. This guide explains each program, shows which Chevrolet EVs qualify, and helps you decide whether to buy this year or next.
Quick Answer
For new EVs bought or leased in 2026, Colorado offers a refundable $750 state tax credit (MSRP up to $80,000) plus an extra $2,500 when the MSRP is under $35,000, for a maximum of $3,250. Starting January 1, 2027, HB26-1289 raises the base credit to $2,000 for EVs with an MSRP up to $50,000 and moves the $2,500 bonus threshold to $40,000, for a maximum of $4,500. Income-qualified households can add a $9,000 VXC rebate on a new EV ($6,000 on a used EV) when they trade in an eligible older vehicle. The federal $7,500 clean vehicle credit ended September 30, 2025.
Colorado EV Incentives at a Glance (2026)
| Incentive | Amount | Who qualifies | How you receive it |
|---|---|---|---|
| Colorado Innovative Motor Vehicle Credit (base) | $750 | New EV purchase, or a lease of 2+ years; MSRP up to $80,000 | Colorado Form DR 0617 with your state return, or assigned to the dealer or lender at signing where offered |
| Low-MSRP bonus | +$2,500 | New EV with an MSRP under $35,000 | Added to the base credit (maximum $3,250) |
| Vehicle Exchange Colorado (VXC), new EV | $9,000 | Income-qualified household (at or below 80% of area median income) trading in an eligible older vehicle | Instant rebate at a participating dealer after program approval |
| VXC, used EV | $6,000 | Same income rules; used EV with a final price of $50,000 or less | Instant rebate at a participating dealer after program approval |
| Federal clean vehicle credit (30D) and used EV credit (25E) | Ended | No longer available for vehicles acquired after September 30, 2025 | — |
| Federal home charger credit (30C) | Ended | No longer available for equipment placed in service after June 30, 2026 | — |
What Changes on January 1, 2027
Governor Polis signed HB26-1289 on June 9, 2026. For EVs sold or leased in the 2027 tax year, the base credit rises to $2,000, the $2,500 lower-price bonus applies to vehicles under $40,000 instead of $35,000, and EVs with an MSRP above $50,000 no longer qualify. The law also removes the revenue triggers that could have cut EV credits in half during lean budget years, so the amounts below are no longer subject to that reduction.
| Tax year | Base credit | Extra credit | Highest MSRP that qualifies | Maximum credit |
|---|---|---|---|---|
| 2026 (now) | $750 | +$2,500 if MSRP is under $35,000 | $80,000 | $3,250 |
| 2027 | $2,000 | +$2,500 if MSRP is under $40,000 | $50,000 | $4,500 |
| 2028 | $1,000 | +$2,500 if MSRP is under $40,000 | $50,000 | $3,500 |
$3,250
$4,500
$750
$4,500
$750
$2,000
$750
$0
Which Chevrolet EVs Qualify for Colorado’s EV Credit?
Every new Chevrolet EV qualifies for at least the $750 credit in 2026. Starting price determines whether you also get the $2,500 bonus, and in 2027 the new $50,000 ceiling matters for the Blazer EV and Silverado EV.
| Model | Starting MSRP | EPA-est. range | 2026 credit | 2027 credit |
|---|---|---|---|---|
| 2027 Chevy Bolt | $28,995 | 262 miles | $3,250 | $4,500 |
| Chevy Equinox EV | $36,795 (LT1 FWD) | 319 miles FWD / 307 miles AWD | $750 to $3,250* | $4,500 under $40K; $2,000 from $40K to $50K |
| 2026 Chevy Blazer EV | $46,495 (LT FWD) | Up to 312 miles | $750 | $2,000 if MSRP is $50,000 or less |
| 2026 Chevy Silverado EV | $58,490 | Up to 478 miles (GM est.) | $750 (MSRP up to $80,000) | Not eligible (over $50,000) |
Should You Buy Now or Wait for 2027?
The honest answer depends on the model, because the 2027 changes help some Chevy EVs and hurt others.
- Silverado EV: buy in 2026. Every Silverado EV starts above the new $50,000 ceiling, so the $750 credit available today disappears on January 1.
- Blazer EV: compare the full deal. A 2026 purchase earns $750, while a 2027 Blazer EV with an MSRP of $50,000 or less earns $2,000. Year-end pricing and GM incentives on remaining 2026 models can outweigh that $1,250 difference.
- Bolt and Equinox EV: the credit grows in 2027. The Bolt gains $1,250 and an Equinox EV LT1 can gain up to $3,750. If you need a vehicle now, today’s credit plus current offers may still be the better total.
- Leasing: leases with an initial term of at least two years qualify, and the credit is frequently reflected in the lease terms. Ask us how it is applied on any lease quote.
The credit is only one piece of the price. Emich Chevrolet shows its discount on new vehicles online, and GM regularly adds cash or low-APR offers on EVs. See our current Chevy lease and purchase specials before you decide.
Shop Chevy EVs at Emich Chevrolet
Our Lakewood EV team will confirm your Colorado credit on the window sticker and walk you through every current GM offer.
Vehicle Exchange Colorado (VXC): Up to $9,000 for Income-Qualified Drivers
VXC is a point-of-sale rebate for Coloradans who replace an older, higher-emitting vehicle with an electric one. Since November 3, 2025 it has paid $9,000 toward a new EV or plug-in hybrid and $6,000 toward a used one with a final price of $50,000 or less. Only one VXC rebate is allowed per household.
VXC and the state tax credit can be combined. On a 2027 Bolt purchased in 2026, that is $9,000 off at signing plus a $3,250 state credit, or $12,250 in total incentives.
How to Claim the Colorado EV Tax Credit
What Happened to the Federal $7,500 EV Tax Credit?
The One Big Beautiful Bill Act ended the federal new clean vehicle credit (up to $7,500) and the used EV credit (up to $4,000) for vehicles acquired after September 30, 2025. The federal credit for home charging equipment ended for equipment placed in service after June 30, 2026. For Colorado buyers today, the state credit, VXC, utility rebates and manufacturer offers are the incentives that remain.
More Ways Colorado EV Owners Save
- Home charging rebates: Xcel Energy offers charger and wiring rebates to Colorado customers, with larger amounts for income-qualified households. Check Xcel’s current amounts before you install. Our guide to home EV charging in Denver covers the basics.
- Lower energy cost per mile: charging at home typically costs far less per mile than gasoline, as the example below shows.
- Less routine maintenance: no oil changes, no spark plugs and less brake wear thanks to regenerative braking. See Chevy EV maintenance.
Frequently Asked Questions
Is there a Colorado EV tax credit in 2026?
Yes. For new EVs purchased, or leased for at least two years, in 2026 Colorado offers a refundable $750 credit on vehicles with an MSRP up to $80,000, plus an additional $2,500 when the MSRP is under $35,000, for a maximum of $3,250.
How much is the Colorado EV tax credit in 2027?
Under HB26-1289, signed June 9, 2026, the 2027 credit is $2,000 for new EVs with an MSRP up to $50,000, plus $2,500 more when the MSRP is under $40,000, for a maximum of $4,500. EVs priced above $50,000 do not qualify. In 2028 the base credit is $1,000, for a maximum of $3,500.
Does the 2027 Chevy Bolt qualify for the Colorado EV credit?
Yes. With a starting MSRP of $28,995, the 2027 Bolt qualifies for the full $3,250 credit in 2026 and the full $4,500 credit in 2027.
Is there an income limit for the Colorado EV tax credit?
No. The state tax credit has no income limit. The separate Vehicle Exchange Colorado rebate is for households at or below 80% of area median income.
Can I get the Colorado EV credit on a lease?
Yes, if the lease has an initial term of at least two years. The credit is often assigned to the leasing company and reflected in your lease terms, so ask how it is applied on your quote.
Do used electric vehicles qualify?
Used EVs do not qualify for the state tax credit. Income-qualified buyers can use a $6,000 VXC rebate toward a used EV priced at $50,000 or less.
Is the federal $7,500 EV tax credit still available?
No. The federal clean vehicle credit ended for vehicles acquired after September 30, 2025, and the federal home charger credit ended for equipment placed in service after June 30, 2026.
Do hybrids qualify for the Colorado EV tax credit?
Plug-in hybrids can qualify, but conventional hybrids that never plug in do not. Chevrolet’s current electrified lineup is fully electric: the Bolt, Equinox EV, Blazer EV and Silverado EV.
This guide is general information, not tax advice. Incentive amounts, eligibility rules and program funding can change; confirm details with a tax professional, the Colorado Department of Revenue (Form DR 0617) and the Colorado Energy Office before you buy. Prices are manufacturer starting MSRPs including destination as published by Chevrolet in August 2026 and exclude taxes, title, registration, dealer fees and options. Range figures are EPA estimates unless noted; actual range varies with temperature, speed, terrain and battery age.