Bike advocates, Gov. Polis celebrate Colorado E-Bike Day

Event marks official launch of new $450 statewide e-bike tax credit

For Immediate Release:  Monday, April 1, 2024 

Media contacts: 

• Alex Simon, Public Health Advocate, CoPIRG, [email protected], 203-536-1819 
• Shelby Wieman, Governor’s Office, [email protected] , 303-957-6011
• Ashley Vander Meeden, [email protected], 720-504-8515             

DENVER – Colorado launched its first statewide e-bike tax credit today, granting residents access to a $450 discount on qualified e-bikes from participating bike shops. Governor Jared Polis declared the second official Colorado E-Bike Day to celebrate the rise of e-bikes as an alternative to car transport and the launch of the new state tax credit. Governor Polis has supported electrifying vehicles, trucks and school buses alongside bikes in efforts to reduce emissions from the transportation sector.

“This ebike tax credit builds Colorado’s nation-leading work to reduce pollution and traffic, save people money and protect our environment. This will help Colorado reach our bold climate goals, invest in future generations, and expand access to clean transportation options now,” said Governor Jared Polis.

Increasingly popular across the state, e-bikes offer a low-emission option in our transportation landscape at a lower cost than an electric car, but with far more capacity than a traditional bicycle. Incentive programs like the state tax credit can boost e-bikes sales and usage while reducing vehicle miles traveled by (typically) gas-powered cars – a key strategy in Colorado meeting its target of a net-zero emissions landscape by 2050. 

The new tax credit follows Denver’s wildly popular e-bike rebate program with the goal of expanding access to electric bicycles by lowering the upfront price tag. Since 2022, Denver residents have purchased around 8,000 e-bikes using the vouchers. City officials estimate that has replaced approximately 170,000 miles of vehicle travel per week, offsetting around 3,300 tons of greenhouse gas emissions each year. 

“E-bikes are a fun and healthy option for hilly or long distance commutes, dropping kids at school, or trips to the grocery store. And with the new statewide tax credit, transitioning to an electric bike has never been easier or more affordable in Colorado. ” said Alex Simon, Public Health Advocate with CoPIRG. 

The new tax credit offers a $450 discount on a qualifying e-bike purchase; residents can find a list of participating bike shops on the Colorado Energy Office’s E-Bike Tax Credit webpage. The tax credit is taken at the point-of-sale, meaning the price is reduced by $450 at the register with no paperwork or application needed by the buyer.   

“We are thrilled to support this first in the nation tax credit for e-bikes. Thanks to participating retailers, this $450 discount will make e-bikes more affordable for Coloradans across the state. Not only will riding e-bikes reduce traffic, emissions, and commuting costs, it’s a blast!” said Dominique Gómez, Deputy Director of the Colorado Energy Office.

Electric bikes have many different applications. They can help cyclists commuting longer distances or hilly road conditions and can be used for essential daily activities such as transporting children to and from school or delivering goods and services. Additionally, e-bikes can make biking more accessible for elderly individuals or those with disabilities or injuries. 

“Research shows that people are purchasing eBikes to replace car trips and bike with cargo, bike greater distances, and bike at an older age or with mobility issues. In other words, eBikes give people freedom of mobility while reducing their carbon footprint. We’re thrilled that the Colorado Energy Office and more municipalities across the state are lowering financial barriers to purchasing e-bikes by offering subsidies and tax credits. This is good policy for all Coloradans,” said Pete Piccolo, Executive Director of Bicycle Colorado. 

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CoPIRG is the Colorado Public Interest Research Group. CoPIRG is an advocate for the public interest. We speak out for a healthier, safer world in which we’re freer to pursue our own individual well-being and the common good. More at www.copirg.org

Bicycle Colorado is a 501(c)3 nonprofit based in Denver. Our mission is to lead a passionate and growing movement that champions the interests of everyone who rides or wants to ride a bicycle in our state. More at https://www.bicyclecolorado.org/.