If you own a home in Wayne, New Jersey, your electric utility is PSE&G, which credits rooftop solar at the full retail rate through net metering. New Jersey also pays about $77 per SREC-II for 15 years. State power runs about 23.27 cents per kWh (August 2026), so every kilowatt-hour your roof makes is worth offsetting.
- Your utility is PSE&G. Wayne Township, in Passaic County, is in PSE&G’s residential electric territory, and PSE&G runs your net metering and interconnection (PSE&G service territory, as of August 2026). A few properties near the township border can differ, so confirm your own address.
- New Jersey power is expensive, which is the point. Residential electricity in New Jersey runs about 23.27 cents per kWh (EIA retail sales, residential NJ, as of May 2026), above the national average.
- SREC-II income stacks on top of net metering. New Jersey’s SuSI program now pays about $77 per SREC-II (one per 1,000 kWh) for 15 years on new registrations dated on or after July 27, 2026 (NJBPU ADI order, May 21, 2026, as of August 2026).
- Solar equipment is exempt from New Jersey sales tax, the full 6.625% rate, via Form ST-4 (N.J.S.A. 54:32B-8.33, as of August 2026).
- The 30% federal homeowner credit (Section 25D) ended after December 31, 2025 (IRS, as of August 2026), so a Wayne homeowner who buys solar in 2026 cannot claim it.
Wayne is a leafy Passaic County township of large single-family homes, and that housing stock makes a strong case for rooftop solar in 2026. The math comes down to three things working together: New Jersey’s high electricity rates, full-retail net metering through PSE&G, and the state’s SREC-II program, which pays you for the power you generate. The local wrinkles are Wayne-specific, from mature tree shade to the flood-prone blocks near the Pompton and Passaic rivers. This page covers what solar is worth here, how PSE&G credits your power, what New Jersey’s incentives pay, and the local details to plan around, then you can check your address in about a minute.
Why solar pays in Wayne
The reason solar works in Wayne is the price of the power it replaces. Residential electricity in New Jersey averages about 23.27 cents per kWh (EIA retail sales, residential NJ, as of May 2026), well above the national average. Every kilowatt-hour your roof produces offsets one you would otherwise buy from PSE&G at that rate, so the value of solar rises as rates do. New Jersey is one of the stronger solar states in the country, and none of that depends on the federal tax credit that ended after 2025.
Your production is what turns that rate into savings, and Wayne’s tree canopy matters here. According to MySolarFY’s PVWatts analysis (August 2026), a 6 kW solar system on a Wayne roof at ZIP 07470 produces about 7,713 kWh a year, which is what drives both your PSE&G bill credits and your SREC-II income. That is a modeled figure for an unshaded roof; Wayne’s mature oaks and maples can cut real output, so estimate your specific roof with NREL’s free PVWatts calculator and ask an installer to run a shade study before sizing a system.
A first look at the numbers for a typical Wayne system
Here is our own estimate for a typical Wayne home, with the inputs shown so you can check it against your own bill. Based on MySolarFY’s analysis (August 2026), we start with a 6 kW system producing about 7,713 kWh a year (PVWatts, ZIP 07470, unshaded), New Jersey’s residential rate of about 23.27 cents per kWh (EIA, as of May 2026), and the current $77 SREC-II rate. This is an illustration for an unshaded roof, not a quote; your rate, usage, roof shade, and system size all change the result, which is why a real installer estimate matters.
| Line item (typical 6 kW Wayne system) | MySolarFY estimate (August 2026) | How we got there |
|---|---|---|
| Annual production | About 7,713 kWh | PVWatts, 6 kW, ZIP 07470, unshaded roof |
| Net-metering bill offset, year 1 | About $1,795 | 7,713 kWh at about 23.27 cents per kWh |
| SREC-II income, year 1 | About $594 | About 7.7 SREC-IIs at about $77 each |
| SREC-II income over 15 years | About $8,900 | Year-1 SREC-II income, rate locked at registration, times 15 years |
| Combined value, year 1 | About $2,389 | Net-metering offset plus SREC-II income |
Two honest caveats. Shade from Wayne’s tree cover lowers production, which pulls down both the bill offset and the SREC-II income, since both track how much your roof actually makes. And these figures do not include the system’s cost, so they are a value estimate, not a payback; to weigh payback against price, use our solar payback analysis and compare real quotes.
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How PSE&G credits the power your Wayne roof sends back
Net metering is the foundation of your savings, and New Jersey credits it at the full retail rate. New Jersey’s net-metering rule is set statewide, and PSE&G credits the power you export to the grid against the power you draw, one-for-one, at the full retail rate up to about your annual usage (PSE&G net metering, as of August 2026). When your panels make more than you use in a month, the extra banks as a credit that rolls forward. For the mechanics, see how net metering credits your solar exports and our PSE&G net metering guide.
The one rule to plan around is the annual true-up. At the end of your 12-month netting period, PSE&G settles any leftover surplus at a lower wholesale market price, not the full retail rate you earn month to month. The practical takeaway is to size your system close to your annual usage rather than oversizing it, so most of your output offsets retail kilowatt-hours instead of being cashed out cheaply once a year. Before you switch on, PSE&G must grant Permission to Operate (PTO); your installer usually manages that filing.
| What you earn | How it is valued | Who receives it |
|---|---|---|
| Monthly net-metering credits | Full retail value, banked and rolled forward | The PSE&G account holder |
| Year-end surplus at true-up | A lower wholesale price, below retail | The account holder |
| SREC-II payments | About $77 per 1,000 kWh produced, for 15 years | The system owner |
New Jersey’s SREC-II income, and what changed in 2026
This is the income stream that sets New Jersey apart. Under the state’s Successor Solar Incentive (SuSI) program, a net-metered residential system earns one SREC-II for every 1,000 kWh (one megawatt-hour) it generates, paid on top of your net-metering savings. New systems registering now earn about $77 per SREC-II, locked for 15 years (NJ Clean Energy Program; NJBPU ADI order, May 21, 2026, as of August 2026).
The 2026 change to know is the rate step-down. The New Jersey Board of Public Utilities cut the residential SREC-II incentive from about $85 to about $77 per SREC-II for registrations received on or after July 27, 2026, under its May 21, 2026 review order (NJBPU ADI order, as of August 2026). Systems registered before that cutoff keep the older rate for their full 15-year term. These payments go to whoever owns the system, so on a lease or PPA the company keeps them. For the statewide detail, see our New Jersey net metering and SREC-II guide and the New Jersey solar guide.
Other New Jersey solar benefits on a Wayne home
Beyond net metering and SREC-II, New Jersey adds two tax exemptions that reduce your cost rather than paying you per kilowatt-hour.
- A 100% state sales-tax exemption on qualifying residential solar equipment, off New Jersey’s 6.625% sales and use tax, claimed with Form ST-4 (N.J.S.A. 54:32B-8.33, as of August 2026).
- A 100% property-tax exemption on the added home value your solar system creates, so a system that raises your home’s value is not taxed on that added value (DSIRE New Jersey, as of August 2026). It is applied through your local assessor, so confirm the current process with the Wayne Township assessor.
What the federal tax-credit change means for Wayne
The federal homeowner credit is gone, but New Jersey’s programs are not. The 30% federal Residential Clean Energy Credit (Section 25D) ended for expenditures made after December 31, 2025, under the One Big Beautiful Bill Act, so a Wayne homeowner who buys solar with cash or a loan in 2026 cannot claim it (IRS Residential Clean Energy Credit; SEIA, as of August 2026). Net metering, SREC-II payments, and the state tax exemptions were not affected by that change, and at New Jersey’s rates they still carry the case. For the full timeline, see what the federal solar tax credit change means in 2026.
One federal exception exists, and it is not yours to claim. A separate commercial credit, Section 48E, is claimed by the business that owns a leased or PPA system, not by the homeowner. On a leased system you do not file for a federal credit yourself; the company that owns the panels does. The 25D homeowner credit, by contrast, ended after December 31, 2025.
Going solar on a Wayne home
Wayne’s suburban housing and geography are what make its solar projects distinct. Most homes here are single-family with pitched, asphalt-shingle roofs that suit a standard racked system, which is simpler than the flat-roof rowhouse work in a dense city. The two local checks that catch Wayne homeowners are shade and water. Mature street trees and wooded lots shade many roofs, so a real production estimate needs a shade study, not a generic number. And Wayne has well-known flood-prone areas along the Pompton and Passaic rivers, so on a lower-lying lot it is worth planning inverter and equipment placement above known flood levels and confirming any floodplain permitting.
| Wayne roof or site factor | What to plan for |
|---|---|
| Pitched asphalt-shingle roof | Suits standard racking; confirm roof age so you are not putting panels on a roof due for replacement |
| Mature tree shade | Ask for a shade study; shading lowers output and your SREC-II income, which both track production |
| Flood-prone lot near the Pompton or Passaic river | Plan inverter and equipment placement above known flood levels; confirm any floodplain permitting |
| Local permits and interconnection | Wayne Township issues the building and electrical permits under New Jersey’s Uniform Construction Code; PSE&G handles interconnection and Permission to Operate |
| Older or undersized service panel | May need an electrical service upgrade to carry solar plus a battery or EV charging |
Paying for solar in Wayne: cash, loan, lease, or PPA
There is no single right way to pay for solar; the best fit depends on whether you want to own the system and keep the SREC-II payments and tax benefits yourself, or avoid an up-front cost. A lease or PPA can mean no up-front cost for eligible homeowners, but it is a long-term agreement with monthly payments, not free solar, and the company that owns the panels, not you, collects the SREC-II payments and the tax benefits. To weigh the long-run numbers, see whether solar panels are worth it and our New Jersey solar cost guide.
| Path | Up-front cost | Who keeps the SREC-II payments | Best when |
|---|---|---|---|
| Cash purchase | Full system cost | You, the owner | You want the fastest payback and the most lifetime savings |
| Solar loan | Little to none, financed | You, the owner | You want ownership without paying cash up front |
| Lease or PPA | $0-up-front where eligible | The third-party owner | You prefer no up-front cost and a simpler, fixed monthly bill |
How to choose a solar installer in Wayne
Northern New Jersey has an active market of licensed installers, which is good for you because it means real competition on price and service. Rather than chasing a “best installer” list, screen any company against objective criteria:
- NABCEP certification, the industry’s professional standard for PV installers.
- Proper New Jersey electrical and home-improvement licensing, in writing.
- A clear workmanship and equipment warranty, in writing.
- Real experience with PSE&G interconnection and New Jersey SuSI/SREC-II registration, plus a shade study for tree-covered lots, so the paperwork and the production estimate are done right.
- A written production estimate and a transparent quote. For a checklist, see the right questions to ask a solar installer.
MySolarFY matches you with licensed installers that serve your area so you can compare real local quotes side by side, with no obligation.
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Frequently asked questions
Who is my electric utility for solar in Wayne, NJ?
For most Wayne homes, your electric utility is PSE&G, and PSE&G administers your net metering and interconnection (PSE&G service territory, as of August 2026). Wayne Township sits in Passaic County within PSE&G’s residential electric territory. A few properties near the township border can be served differently, so confirm the utility for your exact address before you plan a system.
Is solar worth it in Wayne in 2026?
For most owner-occupied Wayne homes with decent sun, yes. New Jersey’s residential electricity price is about 23.27 cents per kWh (EIA, as of May 2026), PSE&G credits your exports at the full retail rate through net metering, and New Jersey’s SREC-II program pays about $77 per 1,000 kWh on top of the bill savings. Savings depend on your roof, your shade, and how you pay, but the combination of high rates, full-retail net metering, and SREC-II income makes Wayne a strong solar market.
How much is a New Jersey SREC-II worth in 2026?
A system earns one SREC-II for every 1,000 kWh (one megawatt-hour) it produces. For new residential registrations received on or after July 27, 2026, the SuSI program pays about $77 per SREC-II, locked for 15 years, after the New Jersey Board of Public Utilities stepped the rate down from about $85 in its May 21, 2026 order (NJBPU ADI order, as of August 2026). Systems registered before the cutoff keep their earlier rate. Confirm the current amount with the NJ Clean Energy Program before you sign.
How does net metering work with PSE&G?
When your panels make more than you use, PSE&G banks the excess as a credit at the full retail rate and rolls it forward month to month (PSE&G net metering, as of August 2026). The one rule to know is the annual true-up: at the end of your 12-month period, any leftover surplus is settled at a lower wholesale price, not retail. Sizing your system close to your yearly usage keeps most of your output offsetting retail power instead of being cashed out cheaply once a year.
What happened to the federal solar tax credit?
The 30% federal Residential Clean Energy Credit (Section 25D) ended for expenditures made after December 31, 2025, under the One Big Beautiful Bill Act, so a Wayne homeowner who buys solar in 2026 with cash or a loan cannot claim it (IRS, as of August 2026). A separate commercial credit, Section 48E, can apply to leased and PPA systems, but the business that owns the system claims it, not the homeowner. New Jersey’s net metering, SREC-II payments, and tax exemptions were not affected, so the local payback case still holds.
Does Wayne’s flooding affect a solar install?
It can, on a lower-lying lot. Wayne has well-known flood-prone areas along the Pompton and Passaic rivers, and while rooftop panels sit well above any flood line, ground-level equipment like inverters and disconnects should be placed above known flood levels. If your property is in a mapped floodplain, confirm any additional permitting with Wayne Township before you install. An installer who works in Passaic County will plan the equipment layout with this in mind.
Written and reviewed by the SolarFY Editor, updated for 2026. We research every page with primary sources under human review; see our data and methodology. Figures were verified against the linked New Jersey (NJBPU, NJ Clean Energy Program, DSIRE), PSE&G, EIA, NREL PVWatts, and IRS sources as of August 2026; the SREC-II rate, PSE&G tariffs, and electric rates can change, so confirm current terms with the NJ Clean Energy Program and PSE&G before you decide. MySolarFY does not provide tax or financial advice; consult a licensed professional about your own situation. Learn more about the MySolarFY team and how we work.
MySolarFY is a free service that matches homeowners with licensed solar installers. We are not an installer, financing company, or government program. “No up-front cost” refers to qualifying lease or PPA financing, where eligible homeowners may have no out-of-pocket cost at installation. Lease and PPA terms typically run 20 to 25 years, may include an annual price escalator, and total payments may exceed the cost of a cash purchase; on a lease or PPA the SREC-II payments and any state tax benefit go to the company that owns the system, not the homeowner. Homeowners do not get the federal residential credit that ended after December 31, 2025. Solar panels are not free and monthly payments apply. SREC-II income is variable and not guaranteed. Eligibility, savings, incentives, and rates vary and are not guaranteed. See our full disclaimer.
