Colorado has introduced a grant program to support the development of local e-bike initiatives and incentives. By offering grants ranging from $25,000 to $750,000, the state is encouraging communities to create e-bike rebate programs that cater to their unique needs.
To receive the maximum grant amount of $750,000, local governments need to provide a matching contribution. This ensures that financial resources are maximized and that local governments get involved in the state’s sustainability initiatives.
According to Colorado Public Radio, the types of local governments that are eligible for grants include cities, counties, and Native American tribes.
These new local programs will join a growing list of e-bike incentives in Colorado. Denver, for example, has had great success with its voucher program. Denver’s voucher program has subsidized the purchase of over 6,900 e-bikes and significantly reduced car usage.
Last year, Colorado implemented a statewide e-bike rebate program. The statewide program provides discounts of up to $1,100 for residents earning less than 80% of their area median income.
The program has been well-received, with around 1,300 people tapping into the incentives already. Funding for the statewide rebate is expected to run out in early 2024.
It’s important to note that any local rebate programs supported by the grants cannot be combined with existing state discounts. Additionally, these programs must prioritize middle- and low-income residents, as defined by each area’s median income.
Even with these limitations, the towns of Durango, Crested Butte, and Sheridan have indicated their interest in establishing new rebate programs with the state’s grant money. The Colorado Energy Office will be open to receiving applications from local governments until November 30th.
As the Colorado government provides additional e-bike rebates, other states are expanding their e-bike incentive programs as well. In late September, Rhode Island announced an extra $1.1 million in e-bike and electric vehicle rebates. Previous rebate funds had been exhausted due to the rebates’ popularity.
Image Source: Empirically Speaking, https://shorturl.at/bEV19