The electric bike has increasingly become a new means of transportation as people want to avoid public transportation. It has quickly proved to be the best alternative for cars while still attaining health benefits with peddling.
The government has created several regulations to encourage people to use an eco-friendly and efficient alternative to fuel-driven vehicles. However, Allied Market Research reported that electric vehicles are expensive due to their materials and manufacturing.
The federal government offers a subsidy program when purchasing electric-vehicle, called the Inflation Reduction Act. However, electric bikes are not included in the subsidy program.
Also Read: Department of Treasury Offers Federal Tax Credit of Up to $7,500 for Buying Electric Vehicle
A new bill proposed to subsidize when buying electric bikes, up to $1,200 for non-cargo or up to $1,700 for cargo bikes. (Photo: Pixabay)
Several cities have created an initiative to subsidize electric bikes, such as the incentive program in Vermont and the e-bike rebate program in New York and Denver.
New Oregon is the latest state to adopt the electric bike rebate. Oregon State Representative Karin Power has proposed the Legislative Concept (LC) 1994. The bill is passed off to Representative Dacia Grayber to sponsor it in the upcoming session.
The proposed bill provides a rebate of up to $1,200 off when purchasing an electric non-cargo bike or up to $1,700 off for an electric cargo bike. The eligible e-bike should have a minimum retail sales price of $950. Purchasing accessories, such as a helmet or locks, within the same transaction can be covered by a rebate.
To qualify for this program, the buyer should register for the program. According to Electrek, the application process does not require indicating a minimum income. Once approved, the program will provide point-of-sale rebates, which the Oregon state will reimburse within 30 days. However, it should be noted that the buyer must retain ownership of the e-bike for one year, and no flipping is allowed.
