MONEY & LIFE

E-Bikes and the Fight Against Climate Change

By: Anneken Tappe · April 16, 2024 · Reading Time: 2 minutes

Colorado’s Subsidy

If you live in Colorado you can score a great deal for yourself ever since the start of this month. And it might be good for the planet, too.

As of April 1, the state offers a new subsidy that will knock $450 off the price of a new e-bike for all residents.

EB versus EV

When it comes to emission-friendly transport, electric vehicles get a lot of buzz. But e-bikes could be an attractive alternative. They’re smaller and easier to store, and don’t add to city traffic. They also require far less lithium compared to electric cars – a key ingredient in the switch to electric anything.

In 2022, Americans purchased more e-bikes than electric cars. Other states and cities, including Connecticut and Tampa, also offer subsidies and have seen overwhelmingly strong demand, signaling that the market may have more room to grow.

Cutting Emissions

A joint study partly conducted by the city of Denver found that new e-bike owners typically replace 3.4 car round trips per week with bike rides. With this in mind, the city estimates that each dollar spent on e-bike subsidies helps avoid nearly one pound of carbon dioxide emissions.

And then there’s the option for those who don’t want to spend money on an e-bike, subsidy or not: the plain old bicycle.

Looking for more stories like this? Check out On the Money — SoFi’s one-stop-shop for news, trends, and tips!

Check it out


Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

Communication of SoFi Wealth LLC an SEC Registered Investment Advisor

SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
SOSS24041602

TLS 1.2 Encrypted
Equal Housing Lender