Cost to Run a Tankless Electric Water Heater in New Jersey
New Jersey's average residential electricity rate is 23.5¢/kWh as of April 2026 — the 40th cheapest in the country, 25% above the U.S. average. At typical usage (0.7 hours/day), a tankless electric water heater here costs $90.01 per month.
Per hour
$4.23
at 13,000–27,000 W
Per day
$2.96
0.7 hours/day
Per month
$90.01
383 kWh
Per year
$1,081
4,599 kWh
By usage level in New Jersey
| Usage | Per day | Per month | Per year |
|---|---|---|---|
| Light (0.5 hrs/day) | $1.48 | $45.01 | $540 |
| Typical (0.7 hrs/day) | $2.96 | $90.01 | $1,081 |
| Heavy (1.4 hrs/day) | $5.92 | $180 | $2,162 |
New Jersey vs. the rest of the country
Monthly cost at typical usage.
Frequently asked questions
How much does it cost to run a tankless electric water heater in New Jersey?
At New Jersey's current average residential rate of 23.5¢/kWh (April 2026), a tankless electric water heater with typical usage costs about $2.96 per day, $90.01 per month, or $1,081 per year.
Is running a tankless electric water heater in New Jersey more expensive than average?
Yes. New Jersey's electricity costs about 25% more than the U.S. average, so the same usage costs $90.01 per month here versus $72.01 nationally.
What does electricity cost in New Jersey right now?
New Jersey residents pay an average of 23.5¢ per kWh as of April 2026 — the 40th cheapest rate of the 51 U.S. jurisdictions we track.