One of the most recognized values of riding an electric folding commuter bike, apart from the environmental and health-related benefits is the money that can be saved by replacing your conventional cars and motorbike with E-bikes and E-scooters.
So you’re thinking about becoming an electric biker and wondering how much money does electric bike commute saves? Well, the answer to this question is not that simple and it will depend on the factors that we will be discussing in this article.
According to a study conducted by Deloitte, 130+ electric bikes would be sold across the globe by the year 2023. This clearly indicates that most of the cities across the globe are trying to replace fuel-consuming cars and bikes with electric vehicles.
Current alternatives for electric bikes?
Purchasing a motorized bike or car will cost you significantly more than an electric bike or e scooter. Even if you use public transport then the transportation costs for an individual can vary considerably from $435 to over $1,000 a month across all metro locations.
Is it worth spending money on Electric bikes?
The most important unique selling point of a folding electric bike is the enthusiasm it creates for a rider. An electric bike is a perfect match whether it is a commute to the office, megastore, college/schools, gym, etc. This all became possible because of the massive worldwide popularity gained by Electric bikes. It is projected that electric bikes will outplace many electric vehicles in the future.
This will not only bring down the burden on the environment with the pollution that is created from the cars bikes, bus, etc. If these modes of commute get replaced with electric bikes, electric scooters, etc., then it will become a very economical and eco-friendly source of commuting too.
How much money does electric biking save?
The quick answer to this is that riding an electric bike while commuting for work, gym, shopping, and other activities will definitely save money. An average person can save up to $1500 per year, depending on the commute range and the route conditions.
While the cost per mile varies from vehicle to vehicle, a tentative 10-mile running cost for a mid-sized car can cost about 1-2 dollars. This is much higher compared to the running cost of an electric bike that is around 1-2 cents. In addition to this, there are service maintenance, parking fee, and insurance expenses with personal vehicles. This means you will save 1-2 dollars every for every 10 miles ride and the other add-on expenses too.
How much does it cost for owning a bike and gear?
If you are planning to buy a reliable and sturdy electric bike or e-scoot, then the cost will start from $1100 and $500 respectively. The pricing of the essential gear can cost around $350, including the helmet for safety, a saddlebag, LED lights, cell phone holder, and a heavy-duty travel bag.
There are multiple other nice to have accessories that will make your riding experience more enjoyable, but we will only be considering essential ones.
Also, if the electric bike act is eventually signed into law, it would provide a 30% tax credit of up to $1500 for buying electric bikes.
Using an e-bike, people can improve their health, save the environment, and help society to bring down the city traffic. Apart from cost saving, an electric bike can bring numerous other benefits that we haven’t touched on. Want to go out on a long ride with your loved ones without paying for the gas?
Want to improve your mental and physical health by exploring the outdoor environment? Want to never worry about taking a bus, booking a cab? Want to get rid of the parking fee and the parking area?
We have listed a few common savings here but with an electric bike, you will be eventually saving even more money in ways that you have not imagined before. As a matter of fact, the long-term savings with an electric bike will be more than the price of the bike itself, now that’s a great deal, isn’t it?
At V&D Electric Bikes we offer the best lightweight electric bikes in Florida, you can browse our website for more details. What are you waiting for, order your electric bike today!