Estimated Savings for a Typical New Jersey Home
Based on a $150/month electric bill
System Size
6.9 kW
Gross Cost
$22,039
Federal Credit
-$6,612
State Incentive
-$2,000
Net Cost
$13,427
Annual Savings
$1,460
Payback Period
9.2 yrs
25-Year Savings
$36,443
CO₂ Offset/yr
8,141 lbs
New Jersey Solar Incentives
30%
Federal Investment Tax Credit (ITC)
Deduct 30% of your total solar installation cost from your federal taxes. Available through 2032 with no dollar cap.
$2,000
New Jersey State Incentive
New Jersey offers Transition Renewable Energy Certificates (TRECs).
Net Metering Policy: Full Retail
Top utility in New Jersey: PSE&G. View full incentives detail →
Solar Costs by City in New Jersey
| City | Annual Savings | Payback (yrs) | Population ↓ | Utility |
|---|---|---|---|---|
| Newark | $1,460 | 10.1 | 311,549 | PSE&G |
| Jersey City | $1,460 | 10.8 | 292,449 | Jersey Central Power |
| Paterson | $1,460 | 9.7 | 145,233 | PSE&G |
| Elizabeth | $1,460 | 9.8 | 137,298 | PSE&G |
| Edison | $1,460 | 8.5 | 107,694 | Jersey Central Power |
| Woodbridge | $1,460 | 8.7 | 99,585 | Jersey Central Power |
| Hamilton | $1,460 | 10.3 | 92,297 | Jersey Central Power |
| Toms River | $1,460 | 7.7 | 91,239 | Jersey Central Power |
| Clifton | $1,460 | 8.7 | 85,973 | PSE&G |
| Trenton | $1,460 | 8 | 83,412 | Jersey Central Power |
Solar Savings Calculator
Instant estimate — no email required
$
Quick Facts: New Jersey
- ⚡ Avg rate: $0.165/kWh
- 🌞 Peak sun: 4.4 hrs/day
- 🏭 Top utility: PSE&G
- 📋 Net metering: Full Retail