The paper “Colorado’s electric vehicle ecosystem” published by International Council on Clean Transportation evaluates the number, type, and distribution of EV chargers needed to achieve Colorado’s goal of 940,000 electric vehicles (EVs) on its roads by 2030 and 2.1 million by 2035. It was found that the number of non-home Level 2 chargers will need to increase to more than 35,000 by 2030, while non-home direct current (DC) fast chargers will need to increase to around 2,900 by the same year.
By 2035, approximately 55,000 non-home Level 2 and about 4,200 DC fast chargers will be needed to support the growing EV fleet. Nearly 90% of the non-home charging capacity needed by 2035 is projected to be concentrated in 16 counties. However, the growth in charging capacity required in these counties is relatively modest on average: as of 2024, about 31% of the non-home charging capacity needed in 2030 had already been installed.
It is projected that the cumulative statewide charging infrastructure investments required to meet Colorado’s EV goals will total about $1.6 billion in 2030 and nearly $3.8 billion in 2035. Based on announcements from state and federal grant and utility programs, existing incentive programs could cover the cost of deploying at least 22% of the non-home Level 2 chargers and 84% of the DC fast chargers needed in 2035.
Access the paper here