Cost to Run a Tankless Electric Water Heater in New Jersey
New Jersey's average residential electricity rate is 23.3¢/kWh as of May 2026 — the 39th cheapest in the country, 27% above the U.S. average. At typical usage (0.7 hours/day), a tankless electric water heater here costs $89.25 per month.
Per hour
$4.19
at 13,000–27,000 W
Per day
$2.94
0.7 hours/day
Per month
$89.25
383 kWh
Per year
$1,072
4,599 kWh
By usage level in New Jersey
| Usage | Per day | Per month | Per year |
|---|---|---|---|
| Light (0.5 hrs/day) | $1.47 | $44.62 | $536 |
| Typical (0.7 hrs/day) | $2.94 | $89.25 | $1,072 |
| Heavy (1.4 hrs/day) | $5.87 | $178 | $2,143 |
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 23.3¢/kWh (May 2026), a tankless electric water heater with typical usage costs about $2.94 per day, $89.25 per month, or $1,072 per year.
Is running a tankless electric water heater in New Jersey more expensive than average?
Yes. New Jersey's electricity costs about 27% more than the U.S. average, so the same usage costs $89.25 per month here versus $70.48 nationally.
What does electricity cost in New Jersey right now?
New Jersey residents pay an average of 23.3¢ per kWh as of May 2026 — the 39th cheapest rate of the 51 U.S. jurisdictions we track.