First, a quick recap of the costs of renting a bike. Capital Bikeshare has five membership options. Casual riders may purchase a 24-hour membership ($7) or a 3-day membership ($15) at any bike station. Riders may also sign up online for a monthly ($25) or annual ($75) membership. Any rider may take unlimited trips of 30 minutes or less, as measured from the time the bike is withdrawn from a dock to the time it is returned; however, users are charged for each additional half-hour on a scale that rises from $1.50 to $8.00. This pricing structure is designed to encourage short trips from place to place instead of longer leisure rides.
One interesting use for the bikes that had not occurred to me until I started paying closer attention is that because trips of 30 minutes or less are free, the program allows public-transportation users to travel the first mile or the last mile to the Metro stop or bus station. This has the obvious advantage of increasing the use of public transportation and taking cars off the road. In addition, since the bike stations are generally situated in fairly dense urban areas, many people are within easy walking distance of them so the bikes can also be used for quick trips to the grocery store etc.
Tourists seem to be taking advantage of the rental bikes as well. It is a fairly common sight now at any of the major tourist attractions in DC to see people on the red Capital Bikeshare bikes.
One downside of the popularity and expansion of the bike sharing network is that accidents involving cars and bikes are becoming more common. Arlington County is working on improving or adding dedicated bike lanes to many of its main roads to help alleviate this problem.
Overall, the bikes seem to be catching on. They are popular with commuters as a first/last mile option as well as tourists wanting to see the sights of the nation’s capital. In what is probably a first in the bike sharing world, in a recent triathlon in DC one of the participants used a Capital Bikeshare bike to complete the cycling portion of the race. Given that the bike share bikes are kind of heavy and built more to last than for speed, it wouldn’t be my first choice but does show how Capital Bikeshare is growing all the more popular.
Disclaimer: This article is intended to be informative and should not be construed as personalized investment personalized advice. You are responsible for your own investment decisions.
Source: Capital Bikeshare