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(Colorado News Connection) The Biden Administration is investing $50 million from the Inflation Reduction Act in Colorado to produce more batteries to power electric vehicles.

Will Toor, executive director of the Colorado Energy Office, said the state is bullish on EVs, in part because gas-powered vehicle tailpipes are a major contributor to harmful ground-level ozone and climate pollution.

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"When you look at both our climate goals and just the pollution problems that we have in Denver and the Front Range, switching to electric vehicles just has huge benefits for our air quality and for our climate," Toor asserted.

The new funding will allow Thornton-based manufacturer Solid Power to add at least 40 new jobs, paying production operators, chemists and engineers nearly $78,000 a year on average. Solid Power is also partnering with area high schools and community colleges for job training programs.

After he purchased his own EV, Toor noted he started tracking his electric bills and found significant fuel-cost savings compared with gas-powered vehicles.

"It's the equivalent of me paying about 90 cents per gallon for gasoline," Toor explained. "They are incredibly convenient, I basically don't have to go to the gas station, I just plug in the vehicle when I get home and let it charge overnight."

Colorado supported Solid Power's early growth with an Advanced Industries Accelerator grant in 2014, which supports the development of early-stage technologies. Their new sulfide-based batteries are expected to provide more power and range for drivers and are safer and less costly than conventional lithium-ion technology. Toor emphasized battery-powered vehicles can also help lower electric bills for everyone.

"People primarily charge their electric vehicles overnight, when there is a lot of excess capacity on the grid," Toor pointed out. "It helps to keep everybody's electric rates affordable over time as we get more and more EVs on the grid."