Owning an electric vehicle in Colorado just got a little more practical. Homeowners in Gunnison County, for example, can now get up to $1,250 when installing an at-home EV charger. But these savings may not be around much longer.
EV owners in Gunnison County can receive 50% off a home EV charger and installation through the Gunnison County Electric Association. This includes up to $625 toward the actual charger and up to $625 toward installation costs, with the entire rebate capped at $1,250. That is more than enough to cover 50% of a Tesla charger and installation.
This rebate is partly thanks to federal funding from the Inflation Reduction Act, a 2022 law that marks Congress' most significant clean energy and climate action to date.
There are some stipulations to get the major savings: EV owners must sign the GCEA's PowerWise Pledge and sign up for the company's time-of-use rate to qualify for the rebate. This is a pricing model where the cost of electricity varies depending on the time of day it is used. GCEA reports its peak hours as Monday through Saturday from 5 p.m. to 10 p.m. When electricity is used during this period, it's charged at an increased rate. Plug in during off-peak hours (including all day Sunday) and your energy costs are less.
The county specifies that EV owners can plug their vehicles into a home charger anytime but program the vehicle to begin charging on off-peak hours to get the best value. According to GCEA, charging during off-peak hours using the time-of-use rate is like driving for $0.82 per gas gallon.
Switching to an EV is a key way drivers can lessen their environmental impact. In the U.S., the transportation sector is the largest source of pollution heating up our planet. Unlike gas-powered vehicles, EVs produce no planet-warming air pollution when driven and don't run on dirty energy sources such as fossil fuels.
The Environmental Protection Agency says that wider adoption of EVs would improve public health and lower the risk of respiratory irritation, illnesses, and cancers linked to air pollution.
Many of the extra costs of owning a vehicle are also lowered — or eliminated — when owning an EV. Experts estimate you'll save around $1,500 annually on gas and maintenance with an EV.
Want to know what other IRA rebates are out there? There's a free online tool that makes finding and claiming IRA incentives easy. Rewiring America, an electrification nonprofit, has a no-cost online savings calculator to help identify tax incentives and rebates you may be eligible for, including those related to EVs.
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If you were going to purchase an EV, which of these factors would be most important to you? Click your choice to see results and speak your mind. |
Cost 💰 Using Rewiring America's tool is easy — just answer seven simple questions. In less than a minute, you'll get a list of qualifying savings. It's that easy.
But there may be some challenges to Gunnison County's sizable EV rebate on the horizon. President Donald Trump has pledged to roll back the IRA, aiming to eliminate the rebates and tax credits that promote electric vehicles and clean energy. However, significant changes to the IRA would require an act of Congress.
With such an uncertain future, taking advantage of IRA incentives sooner rather than later could save you thousands.
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