Following the remarkable achievement of Denver’s e-bike incentive initiative, the Energy Office of the state will introduce a similar program.
Why it’s important: This initiative enables more people to afford buying bikes and can lead to fewer cars on the roads. This in turn helps reduce emissions that contribute to climate change.
Specifics: The state’s scheme will provide a rebate of $500 for individuals earning between 80% to 100% of the median income in their area. Those with incomes at or below 80% qualify for a higher rebate of $1,100.
More details: The rebate amounts are determined by the county of residence, thus the median income criteria will differ accordingly.
- To be eligible for the higher amount, a sole resident of Denver must have an income that doesn’t exceed $69,520. Likewise, an individual residing in places such as Alamosa, Baca, Mesa, and San Juan will be eligible for the increased refund if their earnings are $48,720 or below.
- Individuals whose income surpasses 100% of the Area Median Income (AMI) are not eligible to receive a rebate.
In terms of figures: The program is being funded with $6.6 million by the state, as stated in a press release. This allocation is expected to assist around 7,000 individuals in Colorado in acquiring an e-bike.
- Furthermore, the state has designated $3.4 million to be given to local governments, enabling them to establish their own programs.
According to statements: Sarah Thorne, a senior program manager at the Energy Office, mentioned in a press release that Colorado’s investment of $10 million into e-bike rebate programs establishes it as one of the largest such programs on a statewide scale in the United States up until now.
Please be aware that you can still request the rebate if you reside in Denver or Boulder, as they have their own separate programs. However, you cannot use the state rebate in conjunction with these local programs.
Ensure you’re informed: The state’s official website will start accepting applications on Wednesday at 9am. The application process only requires your name and contact details. The recipients will be selected through a random lottery system. Remember that the application period ends at 1pm on August 21st.
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