If you live in Colorado and own a Prius, here’s a New Year’s Day gift for you: $6,000 off a plug-in hybrid conversion.
Earlier this year, Colorado passed House Bill 1331, “Incentives for Efficient Motor Vehicles,” which creates new tax credits of up to $6,000 for the purchase of, or conversion to, a plug-in hybrid electric vehicle.
Background: plug-in hybrid and electric car retrofits.
The new credit will be a substantial discount off the average price of a plug-in conversion, which generally run around $10-14,000. On top of the Federal Tax Credit of 10% (up to $4,000), plug-in retrofits could start to make a lot of sense for some car owners.