Thanks to Kasun Gajasinghe’s tip, I found the solution in the “suggested” link. Update the following file (replace 7.x with your NetBeans version):
C:\Program Files\NetBeans 7.x\etc\netbeans.conf
Change the following line to point it where your Java installation is:
netbeans_jdkhome="C:\Program Files\Java\jdk1.7xxxxx"
You may need administrator privileges to edit netbeans.conf
.