If you're looking for a way to save money, buying an electric bike may be a great option for you. According to Upway and Mechanic Remy Rossi, riding a bike can save you money on gas, maintenance, and parking.
Charging your bike can cost approximately $0.22 per 100 miles, but most e-bike batteries don't have a range of 100 miles. In comparison, 100 miles for a gas-powered car can cost $14.69. While an electric car won't be as cheap as a bike, it only costs around $4.46 for 100 miles.
These are only estimates, and the actual cost will be determined by energy costs in your area.
You can even save on the upkeep of the bike. While some maintenance is needed, like replacing the battery down the road, e-bikes are much cheaper than cars. Additionally, if you ride your bike more than you drive, you can save on maintenance for your car, too.
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E-bikes can also free you from the hassle and costs of parking your car. Many major cities charge a significant amount to park, and it can be difficult to find a space. Currently, cities don't charge you to tie up your bike, so you can roam the town in peace.
As Rossi said, "money talks, and reducing transport costs can make a big difference to your wallet."
Upway is a great place to check out if you're interested in an e-bike because they offer a large selection to choose from, 60% off the retail price. If you're looking to upgrade your bike, Upway even buys used ones.
While some cities are not equipped for e-bikes (for those, you can opt for an EV), more and more cities are becoming more bike-friendly. For example, Bend, Ore., is offering its residents $1,800 off when they purchase an e-bike, because while they can save you money, it is an upfront investment.
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A husband and wife in Michigan were thrilled when they made the switch. They enjoyed the e-bikes way more than driving, even in the freezing cold.
Riding an e-bike can also benefit the environment. In the U.S., transportation accounts for 31% of energy-related pollution. Gas-powered and diesel-powered vehicles make up 80% of that pollution.
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$5k 💵 Switching to an e-bike clearly has many benefits. And if you opt for solar power, you can save even more money when charging your bike. EnergySage can help you choose a provider in your area with its handy marketplace.
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