The Cost of Solar Panels in New Jersey
Updated September 29, 2024 | 7 min read
Homeowners across New Jersey are making the switch to solar energy as the cost of solar panels in New Jersey has become more and more affordable in recent years. The following guide covers everything you need to know about the cost of solar panels in New Jersey.
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How Much Do Solar Panels Cost In New Jersey?
As of February 2023, the average cost of solar panels in New Jersey is between $11,815 to $15,985 before applying NJ solar incentives. That means the average cost per watt for solar panel installation in NJ is about $2.76 per watt. This is much cheaper than the national average of $3.00 to $5.00 per watt. Fortunately, these costs can be reduced significantly by working with a state-licensed specialist to apply for solar incentives and programs. It is even possible to get your solar panels installed for FREE in New Jersey, with no money down.
REMEMBER, these costs can be reduced significantly if you work with a state-licensed specialist to apply for NJ solar incentives and programs that can drastically reduce the costs of solar!
NJ Solar Costs Breakdown
The following table shows average cost of solar panels in New Jersey, based on the size of the solar system.
| System Size | Avg. Cost Before Incentives |
Avg. Cost After Incentives |
|---|---|---|
| 3 kW | $8,280 | $6,127 |
| 4 kW | $11,040 | $8,170 |
| 5 kW | $13,800 | $10,212 |
| 7 kW | $19,320 | $14,297 |
| 10 kW | $27,600 | $20,424 |
| 12 kW | $33,120 | $24,509 |
Factors To Consider For Your Solar Installation
The numbers in this chart are a great guide to get an idea of the costs involved in installing solar panels, however the cost of solar in New Jersey can vary depending on a number of factors. Some of these factors are the size of your system, where you install your solar system (on the roof or on flat ground), how much solar you need, the types of solar panels you choose, and more.
How much energy you and your family use is a big factor when determining how much solar energy you need. Now, you can't put a solar panel on every part of your roof. You will have to work around the angles, chimneys, and vents. Some families decide to fence of a portion of their land to support solar panels. These are things to think about when installing solar panels because how much space you have will limit how many solar panels you can reasonable install. The ideal solar panel system size it the solar system that supports your families energy usage.
Unfortunately, solar panel systems are not "one size fits all". In order for you to truly know how much solar panels and solar installation costs, in your specific situation, you will need to speak with a solar professional who can do a thorough home assessment and go through your options.
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Is It Worth Getting Solar Panels In New Jersey?
Solar energy continues to be one of the best investments for New Jersey homeowners year after year. In fact, many NJ residents and business owners are able to save more than $30,000 in electricity costs by switching to solar. A high quality solar power system can help you save money on your energy costs for up to 30+ years. And the average solar system will pay itself off in less than 10 years!
With more than 200+ sunny days per year and industry leading solar incentives, New Jersey continues to be one of the best states to install solar panels. In fact, New Jersey ranked #8 out of all of the states in 2021 in the National Solar Rankings. A big reason behind that is their progressive solar incentives. Some of these New Jersey solar incentives include Sales and Property tax exemptions, Federal Solar Tax Credit, and Solar rebates.
New Jersey also has many more programs to help discount solar and pay you back for powering your home with solar. These programs include Net Metering programs that pay you solar renewable energy certificates and Power purchase agreements that can help you install solar panels for zero down.
Related: Are Solar Panels Worth It In NJ?
The True Cost of Solar
In the end, the cost of solar in New Jersey will vary depending on your specific situation, wants, and needs. Fortunately, you can get a free solar quote to help find the best options for you and the EXACT cost for your home solar system, for free. With no obligations, to explore all of your solar options.
At EcoGen America we are dedicated to helping New Jersey home and business owners evaluate their solar options and provide the highest quality solar systems, at the cheapest possible price. Contact us to speak with our local New Jersey solar experts and get a FREE savings quote today!
How We Gather Our Cost Data
We take a data-driven approach to the collection and analysis of solar costs to provide our readers with the most accurate information. Our methodology incorporates data from a variety of trustworthy sources including:
- Primary Sources: Every year we survey over 100 New Jersey homeowners with solar panels to analyze pricing data based on direct consumer experience.
- Trusted Resources: We leverage verified datasets and industry reports from authoritative sources including:
- U.S. Department of Energy (DOE)
- National Renewable Energy Laboratory (NREL)
- U.S. Energy Information Administration (EIA)
- Solar Energy Industries Association (SEIA)
- Expert Insights: We regularly consult with dozens of experienced solar professionals across the nation who are familiar with the latest trends, equipment and solar energy pricing in local markets.
What our customers think
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