Last month, Denver announced a new electric bicycle subsidy program that encourages residents to travel with electric bicycles. This is part of the Denver Climate Action kickback program.
Denver will provide residents with instant-age vouchers worth $400 or $1,200 to purchase new e-bikes based on income levels. Residents who qualify for income can apply for a $1,200 rebate or a full $1,700 discount for a freight electric bike.
Denver Chief Climate Officer Grace Rink said the city has received about 2,600 e-bike applications so far. Her office is working to approve each application in less than 10 days.
"The 2,600 people in the first two weeks were more than we expected at the beginning, and the number was increasing, but so people could go shopping," Link said.
These applicants vary between different plans at different income levels, with 1,260 people applying for smaller rebates and 1,340 people applying for larger rebates. Grace Link said 30 people have redeemed the discount so far.
Unlike some other government incentive programs, Denver pre-approves applicants so they can get discounts when they purchase. However, shopping options are limited to 10 local bike shops participating in the program.
Because the program is funded by a climate protection sales tax approved by voters, it is ensured that funds are reinvested in local businesses. Grace Link “Many local bike shops won’t fix e-bikes purchased online”
Although many people were involved in the early stage, Rink does not think the city will adjust its rebate levels in the short term.
"We didn't think about reducing the amount. I think it's too early to do this in the plan," Grace Link said.
In the US, e-bike buyers still have no tax benefits, but there may be changes in the future. In November, Congress passed a bill to rebuild, which includes the “Electronic Bike Act,” which would provide a 30% tax credit for buying electric bikes over five years (in actual dollar value, you’ll get a return of up to $900). That doesn’t include the $8 monthly pre-tax benefits for biking to work. The bill has a long time to become law, but it is indeed worth looking forward to.
