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Solar Panel Cost in Toms River, New Jersey
Local pricing, savings, and net metering data for Toms River homeowners.
$1,460
Annual Savings
7.7 yrs
Payback Period
$11,310
Net Cost
$38,561
25-Year Savings
Cost & Savings Breakdown
Based on $150/month electric bill in Toms River
System Size
5.9 kW
Annual Production
7,807 kWh
Gross System Cost
$19,014
Federal Tax Credit (30%)
-$5,704
State Incentive
-$2,000
Net Cost
$11,310
Monthly Savings
$122
CO₂ Offset/yr
7,183 lbs
25-Year Savings Projection
Utility & Net Metering
Local UtilityJersey Central Power
Net Metering PolicyFull Retail
Compensation RateFull retail rate
Capacity LimitNo overall limit
Electricity Rate$0.187/kWh
Peak Sun Hours4.5 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 Toms River?
Solar in Toms River, New Jersey costs approximately $19,014 for a 5.9 kW system. After the 30% federal tax credit, your net cost is about $11,310.
What is the solar payback period in Toms River?
The estimated payback period for solar in Toms River is 7.7 years, based on a $150/month electric bill and local sun hours of 4.5 hrs/day.
Does Jersey Central Power offer net metering?
Jersey Central Power offers Full Retail net metering. Full retail rate.