Electric bills have soared in New Jersey. Here’s how to find savings

New Jersey residents are paying more for electric, thanks to inflation. Homeowners may be able to find savings.

News 12 Staff

Apr 28, 2023, 10:32 AM

Updated 357 days ago

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As we move into mid-spring, the sun angle is getting higher, and soon we'll be running the air conditioner. This means higher electric bills and right now, they are jumping thanks to inflation.
News 12’s Rick Holmes asked several residents how much people are paying for electricity in New Jersey. Prices ranged from as low as $120 up to around $400.
When Raymond Ganados, a chef from Bayonne, opened his power bill last summer, he started thinking, “there has to be another way.”
"When it starts getting like $370 to $380, that's too much,” Ganados said. "I have three kids. You want to leave them with a better environment. Doing our part as responsible citizens."

How to find savings on your electric bill

Homeowners may be able to find savings by installing solar. Solar accounts for 7% of the energy that's made in New Jersey. Benefits include free installation and state incentives to make the switch.
Ryan Smith of Fusion Solar Energy in Edison says New Jersey will give homeowners $91 a month per thousand kilowatt hours.
"And that's based on production. You're not selling anything back. This is just the state giving you the money just because they're excited for you to go green,” Smith said.
That money can help residents offset the payment for the cost of the equipment, or even help offset the cost of a new roof.
"You’re starting off so low with most solar systems, as far as what you would end up paying. We could factor in the price of a brand-new roof into the system and you're still saving money,” Smith said.
The two reasons people are turning to green energy: the environment and the savings.
When switching to solar, you're not paying for the power anymore, you're paying for the equipment, and that can be a fixed amount. There are other emerging green technologies like light wind and geothermal. Research and find out which energy is the right source for you.


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