DENVER (KDVR) — According to the City of Denver, the city’s e-bike rebate program will be paused until early next year.
With the rebate, Denver residents are eligible for a $400 rebate off a qualifying electric bike, with an additional $500 rebate ($900 total) off the purchase of an e-cargo bike. Income-qualified residents can qualify for a $1,200 instant rebate. However, funds for the rebate have already been depleted for the year.
Grace Rink, Denver’s Chief Climate Officer, explained, “We exhausted three years’ worth of funding in six short months, and we’re eager to bring back an expanded program that will serve more Denverites.”
Denver’s release boasts the accomplishments of the rebate program: 4,401 e-bikes added to the roads, $8.6 million invested into the local economy, saved Denver residents an average of 51% of new e-bikes, and provided 2,185 total rebates to income-qualified residents.
Earlier this year, Colorado earned the claim as the top state for financing programs that aim to increase e-bike ridership.
The release states that residents who have received an e-bike rebate voucher can use it within 60 days of issuance. The rebates are part of Denver’s Climate Action Rebate Program, which provides other financial incentives.