Because an e-bike can assist you with going up inclines and cruising along at faster speeds, you can cover more distance in less time, which means you’ll be able to get from point A to point B faster than usual. Although there are plenty of reasons to use an e-bike in your daily commute, there’s also one very practical reason that many people don’t think about at first: money! You might be wondering how much money this could potentially save you. Well, let’s take a look:
The Cost of an Electric Bike
E-bikes generally cost more than a regular bikes, but in our search, we found that they’re not too much more expensive. The average entry-level price for an electric bike is $200. That might seem like a lot of money initially, but when you compare it to some of the costs associated with driving or owning a car, an e-bike suddenly doesn’t seem like such a bad deal.
Two Typical Commute Costs According to AAA, the average yearly cost for just getting around in your car is about $7,000. This cost includes car payments, gas, maintenance, insurance, and other miscellaneous costs. But this doesn’t include parking fees and tolls if you drive into the city for work. If you go with a higher estimate of $10,000/year, this is still about $600/month.
Another study from AAA revealed that the average American spends more than $8,500 on their annual commute, which is usually a combination of driving and public transportation. This means that even if you were to get rid of your car, you still wouldn’t be saving a significant amount of money.
Even when you include the cost of charging your electric bike it does not add too much. According to Goingfitunfit the total cost of charging this e-bike will be 88 cents per month or $10.56 per year. When the average electricity cost per Kwh in USA is $0.15.
The Cost of Maintenance
As for the cost of maintaining your e-bike, you can take some simple steps to lower your electric bike’s maintenance cost. One way is to change how you park your bike: If you don’t need it in the city or at work, just park it at home. Another tip is keeping a few extra wheel covers on hand: they help protect your rims against scratches and corrosion and are inexpensive to purchase.
One of the biggest concerns about e-bikes is how long they last. Although you can’t expect an e-bike to never need any maintenance, proper storage and regular cleaning can help prevent you from having to make repairs.
The Cost of Maintenance According to AAA, the average cost for an oil change in your car is $38. Even at the high end, the average cost of maintaining an e-bike is equal to or less than maintaining a car. The only real maintenance that most e-bikes require is a full inspection every once in a while, which typically costs about $30 per hour.
Auto Maintenance Costs According to AAA, the average cost of a tune-up for your car can run you anywhere between $50 and $300. The good news is that e-bike battery replacements are typically a lot cheaper than car battery replacements, so while replacing an e-bike battery is something you’ll likely have to do every few years, it will only cost you between $40 and $80.
The Cost of Gasoline
In addition to the cost of maintenance, you’ll also need to budget for gas money. Although e-bikes generally use less fuel than most cars, it still takes a lot to get around: AAA reports that the average American driver spends $600 on operating costs alone.
The average cost of a gallon of gas is about $3.80, so you’re spending anywhere from $1,500-2,400/year on gas alone. If you go with the higher estimate of $2,400, that’s roughly $185/month.
The Cost of Parking
When commuting to and from work on your e-bike, you’ll probably spend a lot of time looking for a parking spot. If you live in a city with a limited parking supply, this can be quite frustrating, although some places, like Seattle, offer free bike-share programs to make it easier for people to find a place to park their bikes.
On the other hand, if you live outside an urban center with ample public transit options, public transportation may be sufficient to meet your commuting needs. Regardless of where you live, you can do plenty of things to lower the cost of parking your electric bike.
The Total Cost Savings of Commuting on an E-Bike
Based on the cost figures above, you might think, “Wow! A new e-bike is going to save me a ton of money!” Although this can be true, you should take these numbers with a grain of salt. The prices are just average estimates, and you’ll probably have difficulty finding an e-bike for $200. However, even with the highest-end estimate of $2,400/year, this is still much less than driving or owning a car.
If you all need a way to get to work or the grocery store, an e-bike may be a great fit. You’ll save time and money on commuting and parking and have a fun, environmentally-friendly way to get around during your leisure time.