In an exciting bit of news in the EV affordability space, the State of Colorado has unveiled a new project, Vehicle Exchange Colorado (VXC), which may provide a glimpse into the future of facilitated EV transition. Colorado has been at the forefront of EV adoption, historically offering some of the best state level rebates and tax credits available. Now, they’re taking it one step further with the introduction of VXC. The Colorado Energy Office describes the program as a way to help “income-qualified Coloradans recycle and replace their old or high-emitting vehicles with electric vehicles (EVs). The VXC rebate will partially cover the upfront cost of the EV at the time of purchase or lease from an authorized automobile dealer.” This type of program is a huge step forward in making EVs more affordable for all; not only does it help convert some of the most polluting personal vehicles into EVs, it also helps everyday people, who may not have been able to afford an EV before, be given the opportunity to make the switch and save money both immediately and in the long run.

Colorado is asking those who are interested in the program to apply. To qualify, you must be a resident of Colorado, 18 years of age or older, income-qualified, eligible to purchase or lease a vehicle in Colorado, and own an eligible old or high-emitting vehicle, along with holding a valid Colorado driver’s license. There are other qualifications, including the age of the vehicle being traded in and using a participating dealer. Colorado has a goal of putting nearly 1 million EVs on the roads by 2030 and this program is sure to help reach that goal. If you’d like to learn more, please visit the Colorado Energy Office VXC website.