Electric bike tax credit bill reintroduced, providing up to ,500 off new e-bikes in US

Electric bike tax credit bill reintroduced, providing up to $1,500 off new e-bikes in US

Published

2 years ago

March 21, 2023

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After being originally introduced in 2021, yet faltering before the finish line, a federal incentive for electric bicycle purchases is back on the table. If it passes, Americans could receive a $1,500 tax credit for the purchase of an electric bike.

The Electric Bicycle Incentive Kickstart for the Environment (E-BIKE) Act has just been reintroduced to the US House of Representatives by U.S. Representatives Jimmy Panetta (CA-19), Congressional Bike Caucus Chair Earl Blumenauer (OR-03), Mike Thompson (CA-04), and Adam Schiff (CA-30).

Electric bicycle use has seen a steady increase over the last few years as more Americans adopt the light, fast, and efficient alternative form of transportation.

The addition of a battery and assist motor to an otherwise conventional bicycle has helped turn e-bikes into car replacers for many Americans. However, the high cost of e-bikes compared to traditional pedal bicycles has kept them out of reach for many commuters who could use them most.

Electric bicycle prices start at around $600-$800 for budget models, but premium e-bikes can cost as much as 10 times those prices. Thus, an e-bike tax credit has long been seen as a way to help get these effective small-format EVs into the hands of more Americans.

As Rep. Panetta explained:

Many people are looking to get out of their cars and get on to e-bikes not just for recreation, but also for transportation purposes. Although we’re seeing more people on them in our communities, more needs to be done to ensure that everybody across our country has access to an e-bike. By incentivizing Americans to own and use e-bikes, we are allowing them the chance to help improve the quality of life in our communities and tackle the climate crisis in our country.

The federal tax credit outlined in the E-BIKE Act would cover up to 30% of the cost of a new electric bike, up to a maximum credit of $1,500.

In order to qualify, the e-bike would have to be priced at less than $8,000.

According to PeopleForBikes, “the credit would be allowed once per individual every three years or twice for a joint-return couple buying two electric bicycles. New to this version is this addition of income caps that parallel existing electric vehicle tax credit caps: an annual salary of $150,000 for single filers, $225,000 for heads of households, and $300,000 for those filing jointly.”

The incentive is designed to make electric bicycles more accessible to lower-income Americans, as Rep. Blumenauer explained:

With an e-bike, anyone can be a bike commuter, but the high cost discourages too many consumers. That is why I am so excited about the E-BIKE Act. Let’s get more people off of the highway and into the bike lanes.

The E-BIKE Act was originally introduced in 2021 and then was rolled into legislation that ultimately became the Inflation Reduction Act. However, the electric bike incentive was one of many provisions of the proposed legislation that was whittled away in order to garner majority support to pass the bill.

After the former federal e-bike incentive stalled, many cities and states picked up the slack and created their own local incentive programs.

Denver’s e-bike rebate program is, perhaps, one of the most famous in the US, originally offering $400 off the purchase of a new e-bike. The program quickly exhausted its funding before being renewed this year with a slightly lower $300 rebate on new e-bikes. Vouchers will be given out in a half dozen rounds throughout the year, with the first round already being scooped up within 20 minutes of going live.

Colorado will soon be playing catch-up by launching its own e-bike incentive program. Colorado may beat California to the punch with a statewide rebate program, but it won’t be the first. That honor goes to Vermont’s statewide e-bike incentive program. The Vermont program may have helped inspire similar statewide e-bike rebates that are currently being proposed in New York and Oregon.

If you’re looking for some of the best electric bikes in the market at every price range, check out our compilation. Electrek has tested more electric bikes than anyone else, compiling detailed articles and videos to cover their features, advantages, and disadvantages.

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Environment

What makes a Honda a Honda? Prologue engineers help us find out!

Published

11 hours ago

November 16, 2024

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What makes a Honda a Honda? Prologue engineers help us find out!

On today’s informative episode of Quick Charge, we’ve got Honda engineers Jason Hwang and Emilio Sanchez to talk us through some of the things that make the GM Ultium-based Honda Prologue EV feel like a real Honda, and why that matters.

Jason and Emilio talk about some of the choices they made to make the Honda Prologue and Acura ZDX feel different from its GM-branded cousins, and explain why this was much more than a case of badge-engineering. Give it a listen, then let us know what you think of the Prologue and ZDX in the comments.

Today’s episode is sponsored by BLUETTI, a leading provider of portable power stations, solar generators, and energy storage systems. For a limited time, save up to 52% during BLUETTI’s exclusive Black Friday sale, now through November 28, and be sure to use promo code BLUETTI5OFF for 5% off all power stations site wide. Learn more by clicking here.

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Environment

The Eastern US’s first CFI-funded EV charging hub comes online

Published

14 hours ago

November 15, 2024

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The Eastern US's first CFI-funded EV charging hub comes online

CF EV charging — Photo: Joint Office of Energy and Transportation

The first EV charging hub funded by the Charging and Fueling Infrastructure (CFI) Program in the Eastern US is now online in Deerfield, Massachusetts.

The town installed the region’s first DC fast chargers (four ports), along with four Level 2 chargers, at 59 North Main Street in South Deerfield.

These new charging stations, funded with $2.46 million from the CFI program, are conveniently located near Interstate 91 in Franklin County, the most rural county in Massachusetts, which serves drivers from Connecticut up to the Canadian border.

The hub also features local and regional bus stops and designated bike lanes with secure onsite bike racks. The chargers are meant to cater to everyone: from local residents and visitors to municipal EVs and commercial vehicles that service the region’s businesses, like those in food and beverage manufacturing.

Gabe Klein, executive director of the Joint Office of Energy and Transportation, sees this as a model for future projects:

Multi-modal charging hubs in communities are key to giving more people the choice to ride and drive electric. The Town of Deerfield is showing leadership in building out convenient charging infrastructure that brings new transportation choices to rural and disadvantaged communities while supporting local commerce.

In recent years, Deerfield has experienced increased climate change-driven flooding from nearby rivers, including the Deerfield River, the Connecticut River, and the Bloody Brook. The project incorporates environmental engineering designed to mitigate and adapt to the effects of flooding and climate, including the installation of permeable asphalt and rain gardens, planting of native trees, grasses, and shrubs, and the creation of new greenspace in the center of Deerfield.

The Biden-Harris administration’s CFI Grant Program is expanding EV infrastructure nationwide. It offers grants for projects that complement and expand upon the initiatives of the NEVI program in urban, rural, and disadvantaged and low-income communities. So far, the CFI Grant Program has allocated over $1 billion to nearly 100 projects across the US, encouraging private investments and expanding the EV charging network to make EV ownership more practical and convenient.

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Environment

Kia’s new low-cost EV4 was just spotted in the US for the first time

Published

14 hours ago

November 15, 2024

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Kia's new low-cost EV4 was just spotted in the US for the first time

Kia’s upcoming EV4 electric sedan was just spotted testing in the US for the first time. The low-cost EV is expected to make its big debut by the end of the year. Here’s a look at the new model.

The EV4 will round out Kia’s new “EVs for all” master plan launched last year. Kia showcased three new models, the EV3, EV4, and EV5, during its first annual EV Day in October 2023.

During the event, Kia outlined its new global strategy to “lead and accelerate the EV revolution” with a wide range of models priced from $30,000 to $80,000.

Kia plans to rapidly expand its lineup with a series of smaller, lower-priced models. It launched the EV9, its first three-row electric SUV, which is already proving to be a hot seller in the US. Starting at under $55,000, the EV9 is still a great deal compared to others in its class, but Kia plans to go even lower.

The EV3 and EV4 are expected to be among the most affordable electric vehicles when they arrive in the US.

Kia’s new EV4 is now testing in the US

Ahead of its official debut, Kia’s new EV4 sedan was recently caught driving on US streets for the first time.

The latest image from KindelAuto doesn’t reveal much more than what’s been shown in the past, but the fact that it’s now testing in the US is significant.

Kia EV4 caught on US streets for the first time (Source: KindelAuto)

Kia’s EV3 is already on sale in Korea, starting at around $30,000 (42.08 million won). Earlier this week, the company said its new compact SUV is now available across Europe, starting at around $38,000 (36,000 euros) with a “segment-leading range” of up to 375 miles (WLTP).

Next up will be the EV4. Kia is expected to officially reveal the new EV by the end of the year, with deliveries starting in 2025. It could be as soon as next week at the 2024 LA Auto Show.

The interior will feature Kia’s advanced new ccNC infotainment system with dual 12.3″ navigation and driver display screens. An otherwise minalimalistic design is expected inside.

Kia’s EV4 will also be available in a hatchback variant. Although the hatch is likely aimed at European buyers, it was also recently spotted testing in the US for the first time.