A Bifacial Solar Market Size, Share, By Product Type [Cell Technology (PERC, TOPCon, HJT), Frame Type (Framed, Frameless), and Panel Type (Glass-Glass, Backsheet)], By Application (Commercial, Industrial, and Residential), and By Region - Trends

Bifacial Solar Market Size, Share, By Product Type [Cell Technology (PERC, TOPCon, HJT), Frame Type (Framed, Frameless), and Panel Type (Glass-Glass, Backsheet)], By Application (Commercial, Industrial, and Residential), and By Region - Trends, Analysis and Forecast till 2034

Bifacial solar technology is one of the advanced developments in the photovoltaic system that enables both sides of a solar panel to capture sunlight, which greatly enhances their possible energy production. Thus, by design, bifacial ones, such as the traditional monofacial panels that collect light on one surface, have photovoltaic cells on the front and back. A design such as this will let them catch the direct sunlight on the front face and reflect and diffuse light on the backside. The increasing number of government policies and incentives is expected to boost bifacial solar market growth.

Bifacial Solar Market Report Highlights:

• The bifacial solar market size accounted for USD 18.24 billion in 2024.
• The market is projected to reach USD 69 billion by 2034 growing at a CAGR of 15.7%.
• Based on product type, the cell technology segment holds the largest bifacial solar market share.
• On the basis of application, the commercial segment is projected to dominate the market during the forecast period.
• By Region, Asia Pacific is expected to be the fastest-growing region in the market during the forecast period.

Bifacial Solar Market Key Highlights:

• In July 2024, RECOM launched a 750-W bifacial solar module as part of the Lion series. The module has an efficiency rating of 24.1% and a 30-year product warranty. The Lion HJT 750Wp solar module uses heterojunction technology (HJT) and has a bifaciality factor of up to 90%. Its n-type technology decreases power losses while also eliminating potential-induced degradation (PID) and light-induced degradation (LID) effects.
• In April 2024, Adani Solar launched the 575 W TOPCon bifacial PV module. Adani Solar has introduced a new bifacial solar module in its Shine series that uses tunnel oxide passivated contact (TOPCon) cell technology. These modules feature Adani-produced cells, which meet the Ministry of New and Renewable Energy's domestic content criteria for solar power projects. They have a translucent backsheet on the back, weigh 28 kg, and measure 2,266 mm x 1,133 mm.

Bifacial Solar Market Report Analysis

• Following the commissioning of the bifacial solar projects, solar has emerged as the main source, accounting for 78% of the total annual electricity consumption, according to a study project report published in January 2023 by JMK Study & Analytics. When wind and green power from exchanges are included, the overall renewable energy proportion is almost 97%.
• Bifacial technology is rapidly becoming more popular in the utility and commercial and industrial (C&I) segments of the solar industry. With generation from both sides of the panel, the bifacial modules provide an effective solution with not much additional associated cost.

Browse ∼50 market data tables and ∼35 figures through ∼187 slides and in-depth TOC on “Bifacial Solar Market Size, Share, By Product Type [Cell Technology (PERC, TOPCon, and HJT), Frame Type (Framed and Frameless), and Panel Type (Glass-Glass and Backsheet)], By Application (Commercial, Industrial, and Residential), and By Region - Trends, Analysis, and Forecast till 2034”

Competitive Landscape of Bifacial Solar Market:

The major players operating in the market include LONGi Solar, Tigo Energy Inc., Sunpreme Inc., Suntech Power, Jolywood Solar Technology, MegaCell, Trina Solar, Ecoppia, Prism Solar, Panasonic, PVG Solutions, Lumos Solar, LG Electronics, Neo Solar Panel, and Yingli Green Energy.