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Solar Panel Cost in Newark, New Jersey
Local pricing, savings, and net metering data for Newark homeowners.
$1,460
Annual Savings
10.1 yrs
Payback Period
$14,771
Net Cost
$35,099
25-Year Savings
Cost & Savings Breakdown
Based on $150/month electric bill in Newark
System Size
7.5 kW
Annual Production
9,182 kWh
Gross System Cost
$23,959
Federal Tax Credit (30%)
-$7,188
State Incentive
-$2,000
Net Cost
$14,771
Monthly Savings
$122
CO₂ Offset/yr
8,448 lbs
25-Year Savings Projection
Utility & Net Metering
Local UtilityPSE&G
Net Metering PolicyFull Retail
Compensation RateFull retail rate
Capacity LimitNo overall limit
Electricity Rate$0.159/kWh
Peak Sun Hours4.2 hrs/day
Available Incentives
30%
Federal ITC — Deduct 30% of your system cost from federal taxes. Available through 2032.
$2,000
New Jersey State Incentive — New Jersey offers Transition Renewable Energy Certificates (TRECs).
Common Questions
How much does solar cost in Newark?
Solar in Newark, New Jersey costs approximately $23,959 for a 7.5 kW system. After the 30% federal tax credit, your net cost is about $14,771.
What is the solar payback period in Newark?
The estimated payback period for solar in Newark is 10.1 years, based on a $150/month electric bill and local sun hours of 4.2 hrs/day.
Does PSE&G offer net metering?
PSE&G offers Full Retail net metering. Full retail rate.