Solar in New Jersey: companies, incentives, net metering and cost
I counted 953 home solar systems in utility records across 2 New Jersey cities I cover. Pick a city to see which companies installed them, or read on for New Jersey incentives, export credits, prices and payback in 2026.
| City | Systems (years) | Companies with 30+ systems | Most active | Utilities | kWh a year per kW |
|---|---|---|---|---|---|
| Toms River | 542 (2022–2023) | 4 | Trinity Solar | Jersey Central Power & Light | 1,376 |
| Elizabeth | 411 (2022–2023) | 4 | Sunrun | Public Service Electric & Gas | 1,331 |
Net metering in New Jersey: what utilities pay for exported power
Net metering under N.J.A.C. 14:8-4.3: when a home sends more electricity to the grid than it takes in a billing period, the utility and supplier credit the excess against the next month's bill, credits carry over month to month through the customer's 12-month annualized period, and any kilowatt-hours still in excess at the end of the year are paid at the supplier's avoided cost of wholesale power (average locational marginal price), which is far below the retail rate.
| Utility | Program | Credit | Source |
|---|---|---|---|
| Jersey Central Power & Light | Net metering (N.J.A.C. 14:8-4): kWh credit carried month to month, year-end excess paid at avoided cost of wholesale power | retail rate | tariff |
| Public Service Electric & Gas | Net metering (N.J.A.C. 14:8-4): kWh credit carried month to month, year-end excess paid at avoided cost of wholesale power | retail rate | tariff |
New Jersey solar incentives and tax credits in 2026
- Federal tax credit: the 30% Residential Clean Energy Credit is not available for property placed in service after December 31, 2025 (IRS). What changed.
- SuSI / ADI performance incentive: $77 per MWh produced for 15 years for residential registrations received on or after July 27, 2026 (was $85; NJBPU order of May 21, 2026, Docket QO20020184/QO26030096); paid as SREC-II certificates (source).
- Property tax: N.J.S.A. 54:4-3.113a–b: property certified by the local construction official as a renewable energy system is exempt; the owner may exempt each year the assessed value with the system minus the assessed value without it (Form CRES).
- Sales tax: N.J.S.A. 54:32B-8.33 (Division of Taxation bulletin S&U-6): solar energy devices or systems that provide heating, cooling, or electrical or mechanical power by collecting solar energy, including devices for storing it, are exempt from sales tax; the buyer gives the seller Form ST-4.
How much do solar panels cost in New Jersey?
Average quoted prices before incentives in the New Jersey cities I cover, and what that means for a 7 kW system:
| City | Price per watt | 7 kW system | Source, updated |
|---|---|---|---|
| Toms River | $2.54/W | $17,780 | EnergySage, 2026-09-11 |
| Elizabeth | $2.66/W | $18,620 | EnergySage, 2026-09-11 |
Is solar worth it in New Jersey without the federal credit?
Payback for a 7 kW system bought with cash, from each utility's current rate and export credit. No federal credit is assumed. How I calculate.
| City | Utility | Net cost | Bill savings, year 1 | Payback |
|---|---|---|---|---|
| Toms River | Jersey Central Power & Light | $17,780 | $1,881 | 9.5 years |
| Elizabeth | Public Service Electric & Gas | $18,620 | $1,568 | 11.9 years |
Your payback depends on your bill and utility. Enter your ZIP for your own numbers:
Check a New Jersey solar company's license
- Contractor licenses: New Jersey Division of Consumer Affairs license verification.
Checked on 2026-09-21. How I calculate.
Have a quote already?
Check its price per watt and payback against your utility's current rates.