Transit buses consume high amounts of fossil fuels, with the consequent release of greenhouse gases into the atmosphere. In recent decades, much effort has been concentrated on the development of cleaner fuels to mitigate this externality. However, market shares for cleaner-fueled buses are still modest, which is why it is relevant to evaluate the aspects influencing their acceptance. This article presents an econometric model to evaluate factors influencing demand for transit buses in Colombia powered by cleaner fuels. For this purpose, a stated preference survey was applied to public transportation entrepreneurs. Results suggest that the target population considers acquisition cost and operating cost as the most important variables when choosing fuel technology for their fleets. The power offered by the bus engine was relevant for some alternative fuel alternatives, but not the full range.