Cost of solar in Trenton, NJ

Electricity Consumption in Trenton

Electricity Consumption by New Jersey residents averages 691 kWh per month. It ranks #4 in the nation for savings from installing solar panels on the home.

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Solar power in Trenton, New Jersey

There has never been a better time to install solar on your home in Trenton with several amazing incentives making solar a must have for your home or business. New Jersey is one of a few states to have an excellent market for SREC's. New Jersey has a law that all utilities must source a certain percentage of their power from renewable sources and a percentage of that must come from solar PV. If utilities don't meet their requirements they are heavily fined creating a market for SREC certificates. One REC is equal to 1,000 kWh of solar generation, a standard 5kW system will produce about 6,000kWh per year resulting in 6 SREC's. The current value for New Jersey SREC's is about $180-$240 meaning a 5kW system will receive $1,080-$1,440 every year!

Those lucky enough to be living in Trenton also have net metering giving you 1 for 1 with retail power prices for energy exported to the grid by your solar system. Most people during the middle of the day are out the house when their solar is producing the most power making this incentive especially important. Despite already having two brilliant incentives New Jersey residents can also receive the 30% federal solar tax credit covering 30% of the system cost. These incentives are considered by many to be far too generous and may be shut down very soon!

Even if you are not convinced about solar we recommend that at the very least you use the solar panel calculator to find out:

 

Estimate your solar savings

 

Solar power in New Jersey

The average cost of installing residential solar panels in Trenton, New Jersey in 2018 is $3.66 per watt. The average system size in the US is 6 kilowatts, which means the average price of a solar system in Trenton, NJ is $18,300. (before claiming 30% tax credit and other rebates)

What does the cost of a real solar system look like?

Facts about installing a 5.79kW solar system in Trenton, NJ

This system would offset 100% of your energy usage if your typical monthly bill is $130, however your situation may vary so try our solar calculator to get a result tailored to you.

$14,956

Net cost of system
Cash - after 30% solar tax credit

4 Years 7 Months

Average payback time

6,964
kWh

Annual power production


/kWh

levilized cost of solar energy

40¢
/kWh

If you don't get solar
The forecast average utility price over the next 25 years

Cash flow graph based on cash purchase of this 5.79kW system

Life-time savings on this system over the next 25 years

$70,766

(Prices shown after repayments of capital)

 


 

Solar companies in Trenton, NJ that provide pricing through the Solar-Estimate marketplace

48

 


Solar calculator and quote comparison tool

Average total cost of solar panel installation in New Jersey

System Size Cash purchase
After 30% solar tax credit
Financed purchase
After 30% solar tax credit
3kw $8,400 $9,072
4kw $10,892 $11,763
5kw $13,230 $14,288
6kw $15,372 $16,602
7kw $17,395 $18,787
8kw $19,264 $20,805
9kw $20,979 $22,657
10kw $22,540 $24,343

 

Design your own solar panel system for your home

Going solar in New Jersey

Check out all of the ways energy providers of New Jersey can help you be more energy efficient and save money.

The following programs are available:
Incentive Name Eligibility Type
Residential Renewable Energy Tax Credit Federal Personal Tax Credit
Solar Renewable Energy Certificates (SRECs) Registration Program State Solar Renewable Energy Credit Program
NJ Clean Energy- Residential New Construction Program State Rebate Program
Find your local rebates and incentives

Please keep in mind that the best source of up-to-date information on incentives are the solar installers who specialize in your area.