Emerging Innovations and Future Growth Opportunities in Bifacial Solar Cells

Emerging Innovations and Future Growth Opportunities in Bifacial Solar Cells

Solar energy constituted 65% of the total 295 GW installed renewable capacity in 2022. About 70% of the deployed solar panels were monofacial panels that generate electricity from only the top side of the panel. Despite their popularity, these monofacial panels have encountered challenges related to space efficiency, energy yield, and dependence on direct sunlight.

Through its dual-side energy production feature, bifacial solar technology offers solutions to these challenges and significant improvements over traditional monofacial panels. As a result, bifacial solar panels will likely dominate the market by 2030. The compatibility of this technology with advanced solar technologies such as passivated emitter and rear contact (PERC), passivated emitter rear totally diffused cells (PERT), heterojunction technology (HJT), and tunnel oxide passivated contact (TOPCon) also indicate their future value. Their aesthetic appearance also enables the integration of efficient solar panels in diverse structural applications like building-integrated photovoltaics (BIPV) and agrivoltaics.

In this study, Frost & Sullivan offers a comparative analysis of various bifacial solar cells, their strengths and limitations, and cost analysis. The study also includes the advantages of bifacial over monofacial solar technology. We explore the latest trends, technological breakthroughs, and the patent landscape shaping this industry, providing insights into the market's driving forces, challenges, and potential growth areas. In addition, the study discusses leading global players steering the bifacial solar technology industry.