Average Cost Estimates for PV Solar Installation

Size of System Est. Cost* NJ Rebate* Homeowner cost* NJ SREC values Estimated** Homeowner estimated 5 year cost after SREC payment**
3 kWh $23,500.00 $16,500.00 $7,400.00 $450/yr $5,150.00
5 kWh $39,000.00 $27,500.00 $11,500.00 $750/yr $7,750.00
7 kWh $55,000.00 $38,500.00 $17,000.00 $1050/yr $11,750.00
9 kWh $71,000.00 $49,000.00 $22,000.00 $1300/yr $15,500.00
* Prices based on NJ Clean Energy Program (NJCEP) Residential Rebates to Howmeowners calculated at 70% of total installation costs per the NJCEP program guidelines.
** NJ SREC values estimated at .15 per KW average over 5 years. (range .10 - .30)
Updated May 2005

227 Mill Run Court Mount Laurel, NJ 08054 • (856) 778 - 4111 • (856) 778 - 4995 fax