Residents in This City Must Apply Today to Earn $2,000 Rebate

Residents in Atlanta need to act fast as they’re running out of time to apply for a rebate that’s worth up to $2,000 if they purchased an e-bike in the city.

Originally, the Atlanta Regional Commission approved $1 million for the program, which hoped to aid traffic congestion and reduce environmental impacts from traditional vehicles.

Roughly 9,000 people applied for the money in an initial application window in June, but the city announced the rebates would continue to be available as long as residents apply by Friday, August 30.

“The program has been extended and time is running out,” Kevin Thompson, a finance expert and the founder and CEO of 9i Capital Group, told Newsweek. “This should help resolve some of the congestion issues while removing some cars from the roadways.”

To qualify, you must be at least 18 years old and live in Atlanta.

Those who receive a non-income qualified rebate will earn $500 for a standard e-bike and $1,000 for a cargo e-bike. However, if you meet the city’s moderate to low-income eligibility, you could get $1,500 for a standard e-bike and $2,000 for a cargo one.

The application is available online and went live on Saturday, August 24.

City officials said 75 percent of the rebates would be prioritized for low and moderate incomes of less than $60,000 a year.

Transportation costs eat into many residents’ spending money, with the U.S. Bureau of Labor Statistics (BLS) estimating that metro Atlanta residents spend 17 percent of their income on transportation.

Owning an e-bike would take these costs down significantly, as the average e-bike only costs up to $50 yearly. Rebate recipients will be selected the week of September 2. After passing the eligibility verification, rebates should be issued by the end of next month.

Keep in mind, those who already received a rebate in a previous application round are not eligible to apply.

Thompson said many cities across America are using a similar system to push money into their economies after the Inflation Reduction Act (IRA) was passed, designating certain funds to go to state governments.

“The IRA has several provisions that call for allocations into clean energy and energy efficient and electrification programs,” Thompson said. “The states need to make sure that these dollars are being spent accordingly, and that is why so many states are providing rebates to consumers in regard to electric cars, bikes, and motorized vehicles.”

Alex Beene, a financial literacy instructor at the University of Tennessee at Martin, said the rebates are especially helpful in the Atlanta area due to the sheer extent of traffic residents deal with day in and out.

“Atlanta has historically ranked either in or just outside of the top 10 worst cities for traffic in the United States, and few vehicles on the road helps to meet that concern,” Beene told Newsweek, adding that it helps residents financially if they opt for an e-bike over a car.

He added: “Not only are they getting this rebate, but the overall cost of operating an e-bike is substantially lower than a vehicle. Estimates normally put the yearly cost of ownership at around $30-50, making this not just the best option for the environment, but for your wallet, as well.”