Heat Pump Cost in New Jersey 2026
A typical whole-home ducted heat pump costs $10,500–$16,500 installed in New Jersey in 2026 (statewide average ~$13,600). The federal credit is $0, but New Jersey’s rebate stack is the best in this series: up to $7,500 from the statewide Whole Home program, up to $10,000 from PSE&G’s Building Decarbonization program, and $1,000–$2,000 from JCP&L and Atlantic City Electric — while electricity at 24.61 cents per kWh, the 10th highest in the country, makes the running-cost math against cheap gas genuinely tight.