The present study finds that electrifying transportation and heating (along with some other sectors) while decarbonizing the Colorado electricity sector will enable the reduction of economy-wide GHG emissions to below 70% of 2005 levels by 2040, while lowering both electricity and energy costs for all Coloradans. Personal vehicle fuel costs are reduced by over $600 per year (if an EV is used), household heating fuel costs are reduced by over $500 when electrified. In addition, all electricity rates are lowered by 15%, meaning those that do not electrify also benefits with lower costs amounting to $98 per year.

The reduction in GHG emissions equates to Colorado exceeding all its target in HB19-1261 through 2040. The electrification of transportation and heating becomes essential in helping lower economy-wide emissions in an affordable manner. Their additions provides flexibility within the electricity grid over Colorado, which can enable more variable renewable energy sources.