'Cash for Clunkers' style program encourages electric cars

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COLORADO, USA — To get more electric cars on the road, Colorado wants to make it cheaper for you to buy them -- and it has a new program debuting Thursday to try to help with the cost.

Vehicle Exchange Colorado will provide rebates of up to $6,000 for people who exchange an old gas or diesel car for a new electric one. The rebate is $4,000 for people who buy a used electric vehicle.

The program is part of the state energy office's goal to get nearly a million electric cars on the road by 2030.

Not every driver and not every car will be eligible for it.

"It benefits the entire state by helping to reduce greenhouse gas emissions," said Ed Piersa, the program's manager at the Colorado Energy Office. "Many low and moderate income people in Colorado have not had access to electric vehicles. This program will help bridge that gap."

Among the qualifications for the program, drivers must make 80% of the median annual income in their county -- that equals out to $99,280 for a family of four in Denver.

The gas car has to fail an emissions test or be at least 12 years old -- meaning participating cars this year must be from model year 2011 or older. Other eligibility requirements are outlined on the state's website.

The program is set up like this because, Piersa said, lower-income folks are typically most affected by climate change.

"So for us, being able to address this need as well as reduce greenhouse gas emissions is a win-win for the entire state," he said.

The program is just one part of Colorado's greenhouse gas strategy. Earlier this year, the state proposed slowly increasing the percentage of new cars sold that must be electric.

To participate in the new Vehicle Exchange Colorado program, drivers must get their application approved by the state, then go to a dealer that's participating in the program. Right now there are only about 30 dealers participating -- listed on a map on the program's website -- but the state expects that number to go up as long as the rebates last.

Just how long they'll last remains to be seen: the state currently has only enough money for 300-500 rebates, but Piersa said he hopes the program will see success and secure additional funding in future fiscal years.

The state's application portal opens at 9 a.m. Thursday.

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