Is solar worth it in New Jersey?
At New Jersey’s average rate of 18¢/kWh and about 1250 kWh per kW of panels a year, a typical home pays back its system in roughly 8.6 yrs after the 30% federal credit — then keeps saving. Run your own numbers below.
Independent estimate for guidance only — not a quote or advice. Full retail net metering plus SREC-II income make NJ a strong-payback state.
What drives solar payback in New Jersey
New Jersey homeowners pay about 18¢/kWh, which is 1.2¢ above the national average. A rooftop here generates roughly 1250 kWh per kW each year — below the typical US figure. On exports, New Jersey offers full retail net metering: Full retail net metering plus SREC-II income make NJ a strong-payback state.
A worked example
For a New Jersey home with a $160/month power bill:
Assumes 3.00 $/W installed before incentives. Your actual cost, roof and usage will differ — adjust the calculator above.
New Jersey solar incentives
Every estimate here already includes the 30% federal Residential Clean Energy Credit. On top of that, New Jersey homeowners may qualify for state, utility or SREC incentives that change often and vary by provider. For the current, authoritative list, check DSIRE’s New Jersey programs, then type any rebate into the calculator to see how it shortens your payback.