Solar Panel Cost in New Jersey (2026)
In New Jersey, home solar installs for roughly $2.85/watt in 2026. A typical 8 kW system runs about $22,800, with an estimated payback near 9.5 years at the state's ~23¢/kWh electricity rate.
| System size | Est. cost | Est. annual savings | Payback |
|---|---|---|---|
| 6 kW | $17,100 | $1,800/yr | 9.5 yrs |
| 8 kW | $22,800 | $2,400/yr | 9.5 yrs |
| 11 kW | $31,400 | $3,300/yr | 9.5 yrs |
Estimates use ~$2.85/watt installed and New Jersey's ~23¢/kWh rate. Before any state/local incentives.
New Jersey solar notes
New Jersey combines full net metering with its Successor Solar Incentive (SREC-II), which pays a fixed per-MWh credit for 15 years, making solar highly lucrative.
Heads up: the 30% federal tax credit for purchased home solar ended Dec 31, 2025. Leased/PPA systems may still qualify through 2027, and New Jersey may offer its own incentives — check locally.
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