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New Jersey Solar Incentives: Tax Credits & Rebates Guide 2024
  • Written by Luke Daugherty
  • |
  • Edited by Hannah Whatley
  • |
  • Last updated 08/30/2023

Estimate your home’s solar cost and savings

20-year savings
Upfront cost
Payback period
0 years

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Key Points

  • The average cost of solar panels in New Jersey is $3.53 per watt, with an average upfront cost of $24,680.
  • Over 25 years, you could save over $18,000 in electricity expenses.
  • The average payback period for solar panels in New Jersey is around 12 years.

Ready to go solar? Call 866-579-8714 to be connected with a solar expert today!

Solar power FAQs

  • Solar is an excellent investment for many homeowners, but it’s not a perfect fit for everyone. If you are planning to sell your home in the near future, it may not be a great idea to purchase solar panels. Additionally, if your roof and home are not optimal for panels, it may be expensive to make the proper adjustments on top of the installation price. However, if solar panels make sense for your situation, they can save you thousands of dollars on energy bills for several decades.

  • Your potential savings depend on your typical electricity consumption and your electricity rate per kilowatt-hour (kWh). Installing solar panels can lower or eliminate your energy bills. New Jersey’s electricity rates are higher than the national average, and electricity costs typically rise over time. Therefore, your solar energy savings will increase with each electricity rate hike.

  • If you install a solar battery, you can store excess solar power to use later or sell back to the grid. Adding an energy storage system will significantly increase the cost of your solar system, but it ensures you can power your essential appliances, even during outages.

  • The cheapest solar proposal is not necessarily the best deal. Some of the most important factors to consider about a solar bid are the total solar cost, the estimated energy production, labor and product warranties, the installer’s reputation, the anticipated project time frame, and the quality of the solar equipment.

  • There are many reputable solar installers in New Jersey. It’s important to research your options and read contracts carefully before signing. At SaveOnEnergy, we work with leading solar companies in the solar industry to connect you with the best one for your needs. Submit the contact form or call the number on our site to get started.

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