Colorado Targets Rapid EV Growth

Colorado aims to have as many as 940,000 plug-in hybrid and full-electric vehicles registered in the state by 2030, according to the state’s new Electric Vehicle Plan.

As of last October, there were some 11,900 pure electric vehicles and plug-in hybrid models on the road in Colorado, with EVs accounting for 70% of the fleet. Sales of such vehicles soared 73% during the first eight months of last year vs. 2016 levels.

The new plan calls for Increasing the number of electric buses and other transit vehicles in Colorado from 36 today to 500 by 2030. In addition, state agencies will prioritize the purchase of EVs for light-duty applications, increasing the number of EVs in operation or on order from 32 in January to at least 200 by end of 2020.

To support the vehicles, Colorado aims to increase the number of fast-charging EV stations from about 50 today to at least 200 in coming years. This could balloon to more than 600 under a high-growth scenario, the government projects.

Converting to an EV fleet could could provide a statewide net present value of $7.6 billion in cumulative net benefits—and as much as $43 billion under a high-growth scenario—by 2050, according to the report. The gains are calculated based on cost savings for EV drivers, reduced electric bills for utility consumers and monetized societal benefits attributed to lower tailpipe emissions.