Electric bicycles may be eligible for tax credits, just like electric cars To lower prices

An E-bike is more than an “electric bike”.

In the U.S., the “Electric Bicycle Incentive Kickstart for the Environment”, or E-BIKE Act — was introduced. Senate last month. The U.S. was also presented with a companion bill known as the E-BIKE Act. The February 2002 session of the House of Representatives saw the introduction of a companion bill, also known as E-BIKE Act.

Both share the same goal: To get more people to ride electric bikes instead of driving.

Both pieces of legislation offer a 30% tax credit (with a cap of $1,500) on e-bikes of different kinds. This will make it more probable.

Do you sound familiar?

Electric vehicles, including plug-in battery and hybrid cars, are eligible for federal tax credits worth up to $7,500. Tesla and General Motors have both hit the cap of 200,000 EVs sold and are no longer offering a federal discount. But the pressure is on President Biden to extend the cap, especially as he targets half of new car sales as zero-emission vehicles by 2030.

E-BIKE has a similar purpose: To lure people from using gas-powered cars.

The move may open the door to more expensive two-wheelers for e-bike manufacturers who want to increase their battery life. E-bike shopping website Ridepanda connects riders to e-bikes that cost up to $6,000. According to the company, their average ebike costs $1,100. They offer 27 ebikes starting at $2,000. This is down from the 34 e-bikes that were included in higher-end models.

The E-BIKE Act has a small catch. The E-BIKE Act will allow qualifying bikes to use 750 watts power. This is much less than what you get with the most expensive options. Different brands offer power ranging from 250 to 500 Watts for the cheaper price bracket.

For Serial 1, the e-bike company from Harley-Davidson, the main reason to support the bill is so more consumers can afford their bikes. Its instant name recognition and lightweight, high-speed and range options means its e-bikes reach up to nearly $5,600. The cheapest commuter bike costs around $3,800. These bikes are more affordable due to the discount.

Jason Huntsman (president of Serial 1) wrote via email that “EVs like [e-bikes] are crucial tools for providing Americans access to vital and sustainable transportation options.” Tax credits are available for all EVs, including [ebikes], to make electric vehicles more affordable.

The Serial 1 heads up a San Francisco hill.
Credit to Sasha Lekach/Mashable

Seattle-based Rad Power Bikes specializes in commuter- and budget-friendly bikes with a power boost. RadRover 6 Plus is its newest model and starts at less than $2,000. The RadRover 6 Plus, which has fat tires to provide stability and a 75-kWh battery for speed, is just under $2,000. Redwood Stephens from Rad Power Bikes, chief product officer, said that the bike was ideal for people who have been used to driving. He also mentioned how it can be customized for hill climbing.

That’s what Zachary Schieffelin, founder of Civilized Cycles, is thinking, too. The Model 1 is the company’s first self-adjusting, 30 mile range, e-bike. It will be available later in the year. He hopes to encourage riders to switch from cars to bikes for short trips. An e-bike that has storage on the rear, comfortable seats and enough room for passengers, as well as a strong suspension system will be a great choice.

He wrote that “anything we could do to shift these short trips to cleaner, quieter, more efficient solutions such as e-bikes would be a great thing.” This legislation is good news for our industry. But, for the planet, it would be great to see significant cuts in subsidies oil and gas companies receive for many years.

An e-bike with all the features

Another bike maker, Specialized, which recently released the lightweight Turbo Como SL, an electric pedal assist e-bike starting at $3,300, has been championing an e-bike equivalent to the EV tax credit.

Specialized CEO Mike Sinyard stated that, when the House’s version of E-BIKE Act had been introduced in February, that “Whichever the e-bike riders decide, we believe encouraging more bicycle trips is an important part of combating the climate crisis.”

These companies say it’s more than economic concerns.

California has already approved the next-year’s budget with adjusted prices for ebikes. Now, $10 million in funding is slated to go toward establishing more programs to reduce the costs to buy one of the bikes in the state. San Mateo County’s Peninsula Clean Energy rebate already offers up to $800 in discounts. Other counties also offer up to $1,000 for e-bike purchases, among other smaller discounts. To determine whether you are eligible for credit or discounts, some incentive programs consider your income.

In San Francisco, I have tested several electric bikes in congested areas. You don’t feel as though you are riding a lesser vehicle. It felt like I was in complete control of the vehicle, stable on the roads, and just as strong as anyone else.

These aren’t your traditional bikes with an electric motor. E-bikes can go up and down hills, keep you from getting too hot, and allow you to take short trips that you wouldn’t normally be able to make by car.

Even if the riders feel convinced, all these bikes begin at more than $2,000. It’s reminiscent of when Tesla’s Model 3 was priced at nearly $40,000 before the end of 2019; electric tax credits brought it down to the more palatable $30,000 price range. E-bikes are in a similar position. A bike that costs $3,000 with E-BIKE Act credits is now only $2,000. This is slightly less expensive for people with more cash, but it doesn’t make ebikes affordable to everyone.

Publiated at Thu, 12 August 2021 18:58:35 +0000

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