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How much do e-bikes cost?

Minnesotans can now get rebates up to $1,500 for e-bikes
Minnesotans can now get rebates up to $1,500 for e-bikes 02:05

MINNEAPOLIS -- A new program approved by the Minnesota Legislature will provide rebates of up to $1,500 for Minnesotans who purchase an electric bicycle

Forty percent of the $4 million fund will be reserved for individuals and families making below the median household income. The credit will be 75% of the bike's value or $1,500 toward the purchase, whichever is less. 

Higher earners can still qualify, but the value of the rebate decreases depending on how much money a person makes. The amount will be decreased by 1% for each $4,000 an individual makes over $25,000 (or $50,000 for married couples filing jointly). The lowest the rebate can reach is 50%, per the bill's text.

So, what does an e-bike cost anyway? How far will $1,500 go in purchasing one? If you're spending $2,000 or more on a bike, and you're eligible for the full rebate, you'd get the full $1,500. Buy anything under $2,000 and the rebate would top out at 75%.

WCCO looked at some local shops to check the latest prices.

Freewheel Bikes

Freewheel bikes, which has locations across the Twin Cities, offers a wide range of e-bikes at various prices.

The cheapest bike available is the Electra Townie Go! 7D Step-Over, the base price of which is listed as $1,899.99. Assuming you qualified for the full rebate, you would be eligible to receive about $1,425 toward the bike's purchase.

Freewheel's most expensive bikes -- the Trek Rail 9.9 XX1 AXS Gen 4 and Fuel EXe 9.9 XX1 AXS -- are listed at $13,999.99.

Freewheel said its most popular price point is around $3,000.

The Hub Bicycle Co-op

The Hub, whose mission statement is "All types of bikes for all types of people," doesn't quite reach the top-end prices Freewheel does. Its most expensive offering is the Momentum PakyaK E+ at $5,600.

On the low end is the Serfas E-Bikes eDASH 350W Step-Through at $1,949.99. The full rebate would earn you about $1,462 toward this bike.

The Hub has locations on Minnehaha Avenue in Minneapolis and the University of Minnesota Bike Center.

Erik's Bike Shop

Erik's, which boasts locations all around the metro, in addition to St. Cloud, Rochester and Eau Claire, Wisconsin, offers more than 100 e-bikes for sale on its website.

The cheapest full size bike -- the Aventon 2022 Soltera Step Thru Single Speed Electric Road Bike -- will run you $1,299.99. Again assuming you'd get the full rebate, the state would give you about $975 toward that bike.

Erik's most expensive bike rings up at $14,479.99. That's the S-Works 2022 Creo SL Evo Electric Road Bike.

Michael's Cycles

Michael's Cycles, which operates a shop in Prior Lake and Behind Bars in northeast Minneapolis, offers bikes ranging from $2,100 (the Momentum Lafree E+) to $6,400 (the Kona Remote 130).

Pedego Electric Bikes

Pedego bills itself as "America's #1 electric bike retailer" and has a location in Eden Prairie. They have several entry-level bikes listed at $1,995, while their top-end bikes reach as much as $8,995.

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