Written by Dean Mahmoud, CEO, and checked by Trevor Guilday, founder.Prices from the September 2026 Cost Index. Program rules read October 14, 2026. Updated October 19, 2026.
A typical 8.97 kW New Jersey system costs about $26,192 in cash, at $2.92 per watt. It pays back in about 9.3 years before incentives across New Jersey’s four big utilities, 8.7 years at PSE&G, the largest. Owned and registered, it also earns the SREC-II, about $927 in year one. A lease or PPA usually hands that payment to the company.
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New Jersey pays the system owner for every 1,000 kWh the panels make, on top of the bill savings. The price is locked on the day the state receives your registration.
For home registrations received on or after July 27, 2026. Earlier ones got $85.
Paid 6 to 8 weeks after each month closes. No fee to take part.
Open until June 1, 2027, or sooner if it fills. Open when we checked on October 14, 2026.
The installer must complete the job and get the utility’s permission to switch on.
| System size | First-year payment | 15-year total |
|---|---|---|
| 5 kW | $517 | $7,470 |
| 8 kW | $827 | $12,010 |
| 8.97 kW (typical) | $927 | $13,400 |
| 12 kW | $1,240 | $17,940 |
PSE&G, JCP&L, Atlantic City Electric and Rockland Electric credit each kWh you send out at the full retail price, so every kWh is worth your utility’s own price. The SREC-II then pays the owner $77 per 1,000 kWh, for 15 years.
| Utility | Yearly bill savings | Simple payback before incentives |
|---|---|---|
| New Jersey, weighted by homes served | by utility | 9.3 years |
| PSE&G, the largest | $3,001 | 8.7 years |
| Atlantic City Electric | $3,214 | 8.1 years |
| Rockland Electric | $2,960 | 8.9 years |
| JCP&L | $2,263 | 11.6 years |
The September 2026 benchmark of $2.92 per watt times system size. Modeled prices, not quotes we gathered.
| System size | Cash price | First-year output |
|---|---|---|
| 5 kW | $14,600 | 6,710 kWh |
| 8 kW | $23,360 | 10,736 kWh |
| 8.97 kW (typical) | $26,192 | 12,038 kWh |
| 12 kW | $35,040 | 16,104 kWh |
The four regulated utilities give the same full bill credit, and the SREC-II is the same everywhere. What changes is help with a home battery.
GridSmart instant rebate on a battery you buy, of at least 8.5 kW, from a participating contractor. Plus up to $25,000 of interest-free repayment on your bill. Places are limited.
Next: ask if your installer takes part and a place is open.
Paid on the battery’s average output during summer peak events. JCP&L says customers earn $360 a summer on average.
Next: enroll the battery online after it is installed.
Bill credits and the SREC-II work as they do at PSE&G and JCP&L.
Next: ask your utility before you count on battery money.
Town-owned utilities set their own rules. Vineland’s utility says it cannot support new systems above 5 kW in parts of its grid, if at all. It pays nothing for extra power, and unused credits do not carry into the next year.
If you switch to another power supplier, your saved credits are paid out at the wholesale price and a new 12-month period starts. Check your credit balance before you switch.
A statewide battery payment was drafted on August 17, 2026. State staff expect it to open by July 2027 if the Board approves it. Until then there is nothing to apply for.
New Jersey gives no rebate or tax credit for the panels. Its help goes to the system owner, so your contract decides who collects.
No 6.625% sales tax on solar equipment. Give the seller Form ST-4.
File Form CRES. It starts the tax year after the system is certified.
The New Jersey tax return has no line for one.
None for systems placed in service after December 31, 2025.
Tax wording reviewed and approved by Layton Smith Sr., EA (October 16, 2026).
How you pay | Panel owner | SREC-II goes to | Ask before signing |
|---|---|---|---|
Cash | You | You, once registered | That the contract names you to receive the SREC-IIs |
Loan | You | You, once registered | Cash vs. financed price; SREC-IIs not assigned to the lender |
Lease | The company | The company, in most contracts | How much of the SREC-II comes back as a lower payment |
PPA | The company | The company | The PPA rate vs. the full bill credit an owner earns |
Swipe the table sideways to see every column.
Listed A to Z, not ranked. License numbers from the NJ Division of Consumer Affairs registry, checked September 8 to October 15, 2026. Other facts from the companies’ own sites and listings, read October 9 to 16, 2026.
Momentum Solar and Venture Home buy homeowner leads from EcoGen America. That does not change their facts or their place in this A to Z list. How we make money. What the Verified badge means.
Ask each installer who registers the SREC-II, and on what date.
EcoGen America does not sell or install solar. When you request quotes, we pass your request to solar providers serving your area, and they pay us for the introduction. Providers can include installers, solar marketplaces and lead exchanges. You never pay us. This is not an application to the state’s SREC-II program. Privacy policy
CEO of EcoGen America. Since 2021 he has connected homeowners with residential solar installers in all 50 states.
About Dean
Founder of EcoGen America. He has worked in residential solar since 2016 and maintains the EcoGen Solar Cost Index.
About TrevorEditorial standardsCost Index methodologyVerified Installer methodology
