How much does a solar system cost in New Jersey?

Compare Quotes From Top-rated Solar Panel Installers In New Jersey, the average cost of installing a residential solar system is $2.75 per watt, or $13,750 for a 5-kW system, before any tax credits or incentives are included. A solar panel system of 5 to 8 kW is a good size for most New Jersey homeowners.

Are solar panels worth it in New Jersey?

New Jersey does not have an ideal climate for solar panels but there is plenty of sunlight throughout the year to make the purchase worth it for some. Electricity costs in New Jersey are around average compared to the rest of the country so savings depends more on your solar exposure and cost analysis.

How much do solar panels make in New Jersey?

New Jersey has some local incentives as well, like the Successor Solar Incentive (SuSI) Program, New Jersey’s solar renewable energy credit (SREC) program. Under this program, you can earn $85 for every megawatt-hour (MWh) of clean electricity your panels produce. For example, if you produce 10 MWh of electricity annually, you’ll earn $850 a year.

What size solar panels do I need in New Jersey?

A solar panel system of 5 to 8 kW is a good size for most New Jersey homeowners. The cost of solar panels may vary depending on the size of your system, the type and brand of solar panels you choose and other rebates available.

What percentage of New Jersey's electricity comes from solar?

Currently, more than 7% of the state’s electricity comes from solar power, earning it a spot among the top 10 solar-generating states in the U.S.With numerous solar incentives and credits available, solar energy is growing increasingly popular in New Jersey.

Do solar panels pay off in New Jersey?

Under this program, you can earn $85 for every megawatt-hour (MWh) of clean electricity your panels produce. For example, if you produce 10 MWh of electricity annually, you’ll earn $850 a year. These great incentives mean that going solar pays off in New Jersey.