Denver offers new rebates on e-bike and electric appliances

Denver is offering residents at least $400 in instant rebates on the purchase of an e-bike.

What's happening: The city's Climate Action Rebate program launches today, and it can save people thousands of dollars on energy efficient, electricity-powered equipment, such as heat pumps, water heaters, solar panels, electric vehicle charging wiring and more.

• Low-income residents can get larger rebates and potentially have the full cost of their energy-efficient appliances covered.
• The goal is to entice homeowners to replace natural gas-powered and dated appliances with electric versions.

The big picture: The program is one element of the city's five-year plan to address climate change. Denver is aiming to reduce greenhouse gas emissions 65% by 2030 from 2019 levels.

• The $40 million annual effort is funded by a 0.25% sales tax hike that voters approved in 2020.
• The rebate program is expected to cost $9 million over three years and builds off existing rebates from Xcel Energy.

What they're saying: "Are we going to fix climate change with this one program? Probably not," says Grace Rink, the city's climate change czar. "But what we know worldwide on the issue of climate change is we all have to act."

Reality check: Electric appliances and particularly e-bikes typically cost far more than the city is offering, so you'll need to spend thousands to save thousands.

• John drooled over the specs of the popular Trek Verve+ 2 recommended by Campus Cycles — one of the 11 local bike shops participating in the rebate program.
• Then he realized its $2,849 price tag, so the city's rebate is just 14% off.