New Jersey Electricity Rates 2026 — Cost per kWh & Savings
The average electricity rate in New Jersey (NJ) is $0.1789/kWh, ranking #37 among US states. The average monthly bill is $117 for 654 kWh of usage.
Calculate Your New Jersey Electric Bill
Electricity Savings Tips for New Jersey
New Jersey has a strong solar market with an SREC-II program providing additional income for solar panel owners. The deregulated market lets you shop for supply rates. Combined with property tax and sales tax exemptions for solar, panels pay back in 5-7 years.
Primary Utility: PSE&G, JCP&L
New Jersey has a deregulated electricity market. This means you can shop for competitive electricity supply rates from third-party providers while your local utility (PSE&G, JCP&L) still handles delivery. Shopping for a lower supply rate can save 10-20% on your bill.
Solar Energy in New Jersey
New Jersey receives an average of 4 peak sun hours per day. While not the sunniest state, solar panels still produce meaningful energy here. At $0.18/kWh, a solar system that produces 7008 kWh/year saves approximately $1254/year. With the 30% federal tax credit, typical payback is 6-9 years.