# Is a heat pump worth it in New Jersey? Compare by electric utility

> As of November 2026: of 4 New Jersey electric utilities, a heat pump comes out ahead at any quote for 0,
> it depends on quotes for 4, and like-for-like comes out ahead for 0
> (typical 1,800 sq ft home replacing both furnace and AC).

- New Jersey average residential electricity: 23.6¢/kWh (EIA, last 12 months)
- Winter gas: $1.38/therm (EIA, Nov–Mar)
- Interactive page: https://meterwise.app/nj/

## What to know about the New Jersey numbers

- **Rebates not checked yet**: We haven't checked heat pump rebates in New Jersey yet, so the numbers here leave them out. Utility and state programs can take thousands off a heat pump, so ask your utility and your contractor what's available.
- **Some average prices**: 52% of New Jersey ZIP codes here are priced on a current utility tariff; the rest use the utility's average price from the U.S. Energy Information Administration (about two years old). Each utility page says which.
- **Supplier choice**: Many New Jersey households buy their electricity supply from a competitive supplier. We use the utility's standard price; if you buy from a supplier, enter your total price per kWh from your bill.
- **Time-of-use rates**: 2 utilities' tariffs here charge different prices by time of day. We assume heating and cooling use is spread evenly across the day, which can be off if most of yours falls in peak hours.

## Utilities

"Heat pump vs. furnace + AC" is the heat pump's yearly running cost difference (− = cheaper to run).

| Utility | Price/kWh | vs. state | Default fuel | Heat pump vs. furnace + AC | Verdict |
|---|---|---|---|---|---|
| [PSE&G (Public Service Electric & Gas)](https://meterwise.app/nj/pse-and-g-public-service-electric-and-gas/heat-pump-vs-furnace/index.md) | 20.4¢ | -13% | gas | +$10 | depends on quotes |
| [JCP&L (Jersey Central Power & Light)](https://meterwise.app/nj/jcp-and-l-jersey-central-power-and-light/heat-pump-vs-furnace/index.md) | 20.3¢ | -14% | gas | +$80 | depends on quotes |
| [Atlantic City Electric Co](https://meterwise.app/nj/atlantic-city-electric-co/heat-pump-vs-furnace/index.md) | 29.3¢ | +24% | gas | +$50 | depends on quotes |
| [Rockland Electric Co](https://meterwise.app/nj/rockland-electric-co/heat-pump-vs-furnace/index.md) | 21.0¢ | -11% | gas | +$110 | depends on quotes |

Data: https://meterwise.app/data/v1/utilities.json · Method: https://meterwise.app/about/index.md