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Electric bicycles have been growing in popularity for the past several years. Higher energy prices and increased environmental awareness have sparked people's interest in this new form of alternative transportation. Although riding a standard bicycle is even cheaper, electric bikes will allow you to get to-and-from your destination without breaking a sweat - and without breaking the bank. Here's how electric bikes can save you money:

100% Electric - No Gasoline

Electric bicycles don't use gasoline. So if you live within 10-20 miles of your destination, why waste money (and harm the environment) driving a car? Although electric bikes are limited to 20 mph, you'll avoid the stress of driving and constant stop-and-go traffic. In heavily congested areas, you might actually get there faster on a bicycle.

On average, it costs less than $0.10 per charge to operate an electric bicycle. This translates into roughly a half a cent per mile. In comparison, the average motor vehicle gets about 25 miles per gallon. At $3.00 per gallon, this translates to about $0.15 per mile for gasoline alone - or 1500% more than an electric bike. Add in license, insurance, registration, maintenance and other fees, and the cost skyrockets.

No Insurance or Registration Required

With an electric bicycle, you don't need insurance and registration is not required in most states. Considering the amount of money you'll save on insurance alone, you could pay for a new electric bicycle in just a few months.

No Parking & Limited Maintenance Costs

No need to worry about paying for parking with an electric bike. And while the average vehicle repair will cost you hundreds (or even thousands) of dollars, an electric bicycle will cost just a fraction to run and maintain. The most common repair is fixing flat tires - $10-$20 in damages. And batteries will need to be replaced every 1-4 years (depending on the battery type), but the cost pales in comparison to maintaining a motor vehicle.

Electric bikes provide you with an economical option to your gas-guzzling vehicle. Plus, they're eco-friendly and virtually harmless to the environment! Why aren't you riding an electric bicycle?