Solar cost & payback in New Jersey
Short answer
In New Jersey, a home with a $150/month electric bill needs about a 8.2 kW solar system — roughly $17,133 after the 30% federal tax credit, saving about $1,801/year and paying back in ~9.5 years.
System size
8.2 kW
Cost after 30% credit
$17,133
Payback
9.5 yrs
20-yr net savings
$28,873
Solar in New Jersey
New Jersey averages about 4.2 peak sun hours a day and pays roughly 18¢/kWh. The figures above assume a $150/month bill and ~$3/watt installed, with the 30% federal tax credit. A bigger bill needs a bigger system; shading, roof orientation, and net-metering rules change the payback.
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Frequently asked questions
How much do solar panels cost in New Jersey?
For a $150/month bill, about a 8.2 kW system — roughly $24,475 before incentives, or $17,133 after the 30% federal tax credit. Larger bills need bigger, pricier systems.
Is solar worth it in New Jersey?
New Jersey gets about 4.2 peak sun hours a day and pays ~18¢/kWh. A typical system pays back in ~9.5 years and saves about $28,873 net over 20 years — a longer payback, so run your own numbers.
What is the solar tax credit in New Jersey?
The 30% federal Residential Clean Energy Credit applies everywhere, including New Jersey — about $7,343 on the example system. New Jersey may add its own state incentives on top; check current programs.