Colorado vehicle buyers bested California during the third quarter of this year to become the top state for market share of new electric vehicles, according to the Colorado Energy Office.

Energy Office Executive Director Will Toor highlighted Colorado’s leadership in EV sales as tracked by the Northeast States for Coordinated Air Use Management.

“Between investments in charging infrastructure and generous incentives to bring down purchase and lease costs, our commitment to making electric vehicles an affordable and reliable option for Coloradans is paying off,” Toor said.

All Coloradans currently are eligible for a $5,000 state tax credit for purchasing or leasing a new fully electric or plug-in hybrid electric with a manufacturer’s suggested retail price less than $80,000 and an additional $2,500 for EVs with a price less than $35,000. The $5,000 state tax credit is available through the end of 2024, before decreasing to $3,500 in 2025.

“Coloradans are purchasing electric vehicles at a higher rate than any other state because they are affordable, quiet and a great ride,” said Colorado Governor Jared Polis in a media release. “EVs are helping us reach our bold climate goals and protect our clean air. This new data shows that demand for EVs continues to increase and especially with competitive state and federal rebates, drastically cutting the cost of an EV and saving people money.”

EVs made up 25.3% of new vehicles sold in the state during the third quarter, with 82% of EVs sold being fully electric vehicles and 18% plug-in hybrid electric vehicles.

Income-qualified Coloradans exchanging an eligible old or high-emitting vehicle can also take advantage of a $6,000 rebate through the Vehicle Exchange Colorado program for a new EV purchase or lease and a $4,000 rebate for a used EV purchase or lease.

In addition, Coloradans may be eligible for a $7,500 federal tax credit for a new EV lease and for the purchase of certain EV models that meet specific manufacturing requirements. A $4,000 federal tax credit is available for used EV purchases and leases.

So far, Colorado has more than 5,500 publicly available charging ports across the state, although research shows most EV owners charge at home.