Five years ago, my daily commute to work from Richmond to Vancouver and back took nearly two and a half hours by public transit.
I tried cycling with a regular bike and found the commute took three hours per day, mainly due to the hills.
I was utterly exhausted at work from the commute and after returning home.
I couldn't last more than two days cycling to work.
I then tried commuting by e-bike and was delighted to find that an e-bike solved the exhaustion problem and was much faster than public transit.
E-bike motors are rated up to 500 watts. For comparison, the average person can output 100 watts in a long-distance cycle commute. The average Olympic cyclist can output 300 watts.
With an e-bike, I could climb hills with the power of six cyclists or two Olympic cyclists. I found my morning e-bike commutes relaxing and energizing.
Compared to public transit, I was saving more than 16 hours per month on my commute while generating a small profit.
Now, you're probably wondering: "How does commuting by e-bike compare to driving in terms of cost and time?"
I was wondering the same thing, and I've detailed my findings below:
Had my commute stayed the same in the past five years, I'd be saving $83 for every additional hour spent (6.5 hours per month) commuting by e-bike compared to driving.
Compared to taxable employment income, it'd be the equivalent of working at $99-$108 per hour at a 20-31 per cent marginal tax rate.
This wage would put you in the top five per cent of income earners in B.C.
By re-investing my savings into an S&P 500 ETF, I managed to save more than $45,000 over the past five years!
Furthermore, I excluded parking in these calculations. A single underground parking space adds $70,000 to housing costs (City of Burnaby, September 2023), resulting in an additional $400 in monthly mortgage payments.
If we include residential parking mortgage costs, the savings increase to $145 per hour, or up to $173-$190 per hour compared to pre-tax employment income. Including parking costs, my total savings would have ballooned to ~$77,600 over the past five years.
Of course, these calculations aren't all-encompassing. For one thing, I only calculated it from the perspective of my specific work commute.
We also commute for a lot more than work. If your amenities are not easily accessible by walking/biking, there may be an additional time cost. Cycling also comes with intangible benefits such as improved mental and physical health that I can't factor into my calculations.
I hope this article gives some context on the rough magnitude you can save by commuting via e-bike.
With HUB Cycling's Go By Bike Week this week, switching to an e-bike now can also increase your chances of winning various prizes, like a cycling adventure for two to Italy.
Richmond resident Vincent Chiu is the infrastructure lead for HUB Cycling's Richmond/YVR Committee.
