Supercharge Your Savings: Colorado EV Rebate Program Offers Full Coverage for Multifamily & Commercial Chargers

Colorado is about to see a huge boost to its electrification efforts thanks to the new Colorado Commercial EV Infrastructure Rebate Program.

Operated by the state’s largest energy provider, Xcel Energy, the infrastructure rebate program offers multifamily and commercial property owners funding of up to 100% of the cost of their EV charging installations.

Want to see how you can apply? Read on to learn how the program works and how to access full funding for EV charging at your Colorado property.

What is the Colorado Commercial EV Infrastructure Rebate Program, and What Funding Does it Offer?

The Colorado Commercial EV Infrastructure Rebate Program (CCEI) is designed to accelerate the installation of commercial EV charging throughout Xcel Energy’s service territory. It offers a streamlined application process and dedicated advisory services to help customers and contractors navigate every step of the process.

Funding varies depending on whether a project will be located in a “disproportionately impacted community” (DIC). This is a designation applied to:

• Communities with large populations of low-income households
• Communities of color
• Housing cost-burdened communities
• Tribal lands
• And others

You can find the full list of DICs, as well as more information on this designation, at this link.

There are also different kinds of coverage available for EV supply infrastructure (generally electrical infrastructure) and EV supply equipment (the chargers themselves).

Here’s a look at what is covered:

For EVSI Rebates:

• New Construction Wiring: $500 per port (non-DIC) or $1,600 per port (DIC)
• Level 2 Charging: $5,835 per port (non-DIC) or $11,670 per port (DIC)
• DCFC (Direct Current Fast Charging): $18,250 per port (non-DIC) or $36,500 per port (DIC)
• Public DCFC: $45,000 per port (non-DIC) or $90,000 per port (DIC)

For EVSE Rebates:

• Commercial Level 2: $1,250 per port (non-DIC) or $2,500 per port (DIC)
• Multi-Family Housing Income Qualified and Nonprofits: $8,500 per port (flat rate)
• Public DCFC (150-249kW): $17,500 per port (DIC only)
• Public DCFC (250-349kW): $32,500 per port (DIC only)
• Public DCFC (350+ kW): $40,000 per port (DIC only)

Importantly, these rebates are designed as flat amounts per port up to the total project cost, making it easier for property managers to calculate potential savings upfront.

Eligibility Requirements

Funding through this program is available on a first-come, first-served basis. All projects will be scored based on a number of criteria to determine their potential value and impact, with high-scoring projects receiving priority.

To be eligible for the program, projects must meet the following criteria:

• Location: The installation must be within Xcel Energy’s Colorado service territory.
• Timing: All applications must be submitted prior to beginning construction. This is a critical requirement that cannot be waived.

In the installation phase, projects must also meet the following requirements:

• Installers: All works related to the completion of funded projects must be performed by qualified professionals.
• Laws & regulations: Projects must comply with all applicable local, state, and federal regulations.

A note on project caps

Funding through this program is capped at various levels.

• Individual project funding is capped at $1 million
• Annual funding per rebate recipient is limited to $5 million
• Rebate amounts cannot exceed project costs
• Any external funding sources will be deducted from eligible rebate amounts

How to Apply & Deadlines

The application process follows a structured timeline, with a first-round deadline of February 16th, 2025.

Applications will be assessed from February 16 to the end of March, with a second application window opening in April. Details about this window will be determined based on how much funding remains after the initial round.

The application process follows these steps:

1: Initial inquiry

In this phase, you will submit your initial inquiry and await an assessment from the EV Advisory team from Xcel.

If needed, a list of Trade Partners will be provided to help you finalize your plan.

2: Formal Application

Once your plan is finalized, you or your Trade Partner will submit your formal application for funding through the rebate program.

Among other things, your application must include:

Your project location
Information about your business
Information about the type of charger you will be installing

In order for funding to be applied to the project, you must wait until approval or pre-approval has been received before beginning any construction.

3: Review and Approval

Xcel Energy will review all submitted applications and score them to determine prioritization.

Approved projects will receive a Reservation Letter, at which time Trade Partners will be able to proceed with construction.

4: Installation and Payment

Once approval has been received and the installation process can begin, you or your installation partner will need to reach out to Xcel Energy to coordinate connecting your chargers to the grid, as well as on the overall design of your project.

Your installation partner will share invoices related to your project with Xcel, with Xcel then paying your rebate minus any amounts provided during the pre-approval process.

Final Advice

The Colorado Commercial EV Infrastructure Rebate Program represents a significant opportunity for property managers to install EV charging infrastructure at a fraction of the normal cost. With rebates covering substantial portions of both infrastructure and equipment costs, and additional incentives for installations in disadvantaged communities, this program makes EV charging more accessible to Colorado properties than ever.

The time to act is now, as funds are limited and distributed on a first-come, first-served basis. With the initial application window closing on February 16th, interested property managers should begin their application process as soon as possible to ensure the best chance of securing funding.

How SWTCH can help you secure funding through the Colorado Commercial EV Infrastructure Rebate Program

Our team at SWTCH has already secured funding through this program for a 32-port project in Denver, and we’d be delighted to help you secure funding, too!

Get in touch with us to see how our platform can meet your EV charging needs, as well as for expert guidance on how best to position your project for a successful application.