Governor Polis is proposing a financial incentive program to encourage Colorado residents to purchase electric vehicles, electric bikes, and electric lawnmowers. These types of programs are often implemented as a way to reduce greenhouse gas emissions and improve air quality by encouraging the use of cleaner forms of transportation and equipment. Financial incentives can take the form of tax credits, rebates, or other types of subsidies, and they can be effective in encouraging the adoption of new technologies that may have a higher upfront cost but offer long-term environmental and economic benefits. It is up to the legislators to decide whether or not to approve the governor's proposed amendment to the 2023-2024 budget.
For potential e-bike owners, the proposal includes a $500 rebate, and up to $1,000 discount for low-income residents. Will Toor, the Colorado Energy Office's Executive Director stated, "This package is an important complement to existing policy and federal incentives that would help supercharge climate action and progress on clean air in Colorado, I would anticipate it's going to be pretty attractive to many members of the legislature."
This follows a bill Governor Polis signed last year putting over $110 million for programs to improve local air quality. It included a two-year e-bike incentive program, which is planned to launch later this year.
Colorado has always and continues to support the demand and need for alternative forms of transportation from the standard motor vehicle. GOTRAX is always pushing to get more people on their personal electric vehicles instead of their cars and we are happy to see state's like Colorado supporting that. Whenever you get out to go on a ride, don't forget to wear your helmet.
Ride Together. Ride GOTRAX!