Are Solar Panels Worth It in New Jersey? Data-Backed Analysis
✓
Yes
Solar panels are a strong investment in New Jersey based on available data.
The Numbers
Average System Cost
$0
21.3 kW system
After Federal ITC
$0
30% tax credit applied
Total Installations
192,243
95% residential
Factors in Favor
- ✓192,243 installations demonstrate strong market adoption
- ✓Federal 30% Investment Tax Credit available to all homeowners
- ✓95% residential - strong homeowner adoption
New Jersey vs National Average
| Metric | New Jersey | National |
|---|---|---|
| Cost per Watt | - | $4.18 |
| Total Installations | 192,243 | 3,426,466 |
| Total Capacity | 4,092 MW | - |
Frequently Asked Questions
The average solar system in New Jersey costs approximately $0 (avg 21.3 kW system at $0.00/W). After the 30% federal ITC, your net cost would be around $0.
All New Jersey homeowners are eligible for the federal 30% Investment Tax Credit (ITC), which reduces the cost by approximately $0. Additional state and local incentives may further reduce your costs. Visit our New Jersey incentives page for a complete breakdown.
New Jersey has 192,243 solar installations, showing strong market adoption. Combined with competitive costs and available incentives, solar is a strong investment in New Jersey.
Source: LBNL Tracking the Sun, U.S. Department of Energy, EIA. Costs and savings are estimates based on average residential installations and may vary.