Cyclists, get ready to roll: The state's online application for e-bike rebates goes live at 11 a.m. Wednesday.

Rebates toward buying an e-bike are available up to $1,500 depending on an applicant's income, and applications will be reviewed on a first-come, first-served basis, according to the Minnesota Department of Revenue.

E-bikes, or electric bikes, are equipped with rechargeable electric motors to assist cyclists with pedaling. Prices generally range from $600 to $2,500, or more.

A handful of states offer e-bike rebates. Minnesota's online rebate system will stop accepting applications once it receives 10,000 requests. Here's the application, and here's a YouTube video instructing people on how to apply.

Those who qualify and receive a rebate certificate must buy their e-bike from an eligible retailer. As of Monday, more than 190retailers across the state qualified for the program, most of them individual retailers or small chains.

Discounts range from 50% to 75% off the cost of the e-bike and qualifying accessories, depending on the applicant's income. The value of the rebate cannot exceed the price of the e-bike.

The Department of Revenue encourages applicants to familiarize themselves with the process before applying. There's a handy income calculator on the department's website that calculates how much of discount you can potentially get through the program.

Applicants must be at least 15 years old, a Minnesota resident this year and in 2023, and provide their date of birth, Social Security number, tax filing status and adjusted gross income in the previous calendar year, which is found on line 1 of Minnesota tax form M1, or line 11 of federal form 1040.

The Department of Revenue will let people know by email if they successfully submitted their application and distribute the first round of rebate certificates by July 1.

The state has allocated $2 million for 2024 and again in 2025 to cover the rebates, and some 1,300 rebate certificates are expected to be awarded on July 1.

But due to the limited number of rebates available, about 5,000 applicants will likely be denied and the remaining pool will be put on a waitlist for a potential second round of rebates in October.

If that happens, the Department of Revenue will issue more rebate certificates to those who were on the waitlist in the first round. Applications then will resume in 2025 for the second round of rebates.

Those who do receive a rebate have two months to make their purchase at approved retailers.

In recent years, the market for e-bikes has exploded globally, as people opt for a healthier lifestyle, aim to avoid traffic congestion and mitigate climate change by limiting driving. The U.S. market for e-bikes is currently worth $45 billion and expected to reach $78 billion by 2028, according to the research firm Research and Markets.