The discount, which is being offered to anyone over the age of 14, is part of the car2cycle scheme designed to improve sustainable transport and persuade Islanders to cycle to work rather than drive.
E-bikes have an electric motor as well as pedals, making it easier to cycle up steep hills.
£150,000 (£50,000 in each of the next three years) has been set aside in the Infrastructure Department budget to cover the discount.
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