Bifacial Solar

Global Bifacial Solar Market to Reach US$40.9 Billion by 2030

The global market for Bifacial Solar estimated at US$18.0 Billion in the year 2024, is expected to reach US$40.9 Billion by 2030, growing at a CAGR of 14.6% over the analysis period 2024-2030. Dual-Glass Bifacial Solar, one of the segments analyzed in the report, is expected to record a 17.0% CAGR and reach US$27.3 Billion by the end of the analysis period. Growth in the Glass-Backsheet Bifacial Solar segment is estimated at 10.7% CAGR over the analysis period.

The U.S. Market is Estimated at US$4.9 Billion While China is Forecast to Grow at 19.9% CAGR

The Bifacial Solar market in the U.S. is estimated at US$4.9 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$9.0 Billion by the year 2030 trailing a CAGR of 19.9% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 10.5% and 13.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.7% CAGR.

Global Bifacial Solar Market – Key Trends & Drivers Summarized

Why Are Bifacial Solar Panels Revolutionizing the Renewable Energy Industry?

Bifacial solar technology is transforming the solar energy sector by significantly increasing energy yield and improving efficiency compared to traditional monofacial panels. Unlike conventional solar modules that capture sunlight from only one side, bifacial solar panels absorb light from both the front and rear surfaces, utilizing reflected sunlight from surrounding surfaces such as rooftops, concrete, grass, or specialized reflective materials. This ability to harness additional sunlight results in higher energy production, lower levelized cost of electricity (LCOE), and improved return on investment (ROI) for solar energy projects. As the global demand for sustainable and cost-effective energy solutions grows, bifacial solar technology is becoming a preferred choice for utility-scale solar farms, commercial installations, and even residential applications.

The adoption of bifacial solar panels is further driven by technological advancements in photovoltaic (PV) materials and module design. The integration of passivated emitter rear contact (PERC) technology, heterojunction solar cells (HJT), and n-type silicon materials has enhanced the efficiency and durability of bifacial panels. These innovations have enabled bifacial modules to achieve energy gains of up to 30% compared to their monofacial counterparts, making them a viable solution for maximizing energy output in limited space. Additionally, global efforts to transition toward carbon-neutral energy systems, combined with government incentives and declining manufacturing costs, have accelerated the widespread deployment of bifacial solar technology across various regions.

How Are Technological Advancements Enhancing Bifacial Solar Efficiency?

Advancements in photovoltaic materials and manufacturing processes have significantly improved the efficiency and performance of bifacial solar panels, making them an attractive option for large-scale renewable energy projects. One of the most important innovations in this space is the development of n-type solar cells, which offer higher efficiency and lower degradation rates than traditional p-type cells. Technologies such as Passivated Emitter Rear Contact (PERC) and Heterojunction (HJT) solar cells have further enhanced energy conversion efficiency, enabling bifacial panels to generate more electricity with the same surface area. Additionally, bifacial modules equipped with transparent back sheets or dual-glass structures allow for optimal light absorption and increased durability, extending the lifespan of solar installations.

Another major breakthrough is the integration of AI-driven solar tracking systems that optimize panel orientation based on real-time weather conditions and sun position. By using advanced tracking algorithms, bifacial solar installations can maximize rear-side energy capture, improving overall energy output. The deployment of machine learning and IoT-enabled monitoring systems has also enhanced performance optimization, allowing for real-time data collection and predictive maintenance. Moreover, research into nanocoatings and anti-reflective materials is helping reduce dust accumulation and light scattering, further increasing the efficiency of bifacial panels. As solar technology continues to evolve, the combination of bifacial modules with smart tracking and energy storage solutions is expected to redefine the future of solar power generation.

Which Market Trends Are Driving the Growth of Bifacial Solar Technology?

Several emerging trends are fueling the growth of the bifacial solar market, positioning it as a dominant force in the renewable energy landscape. One of the most significant trends is the increasing adoption of utility-scale bifacial solar farms. With solar energy developers seeking to maximize land efficiency and energy production, bifacial modules are being deployed in large-scale installations to achieve higher power output per square meter. Countries such as the U.S., China, and India are leading the way in integrating bifacial technology into their national energy grids, supported by favorable policies and declining costs of solar modules.

Another key trend shaping the market is the shift toward floating solar farms, where bifacial panels are being installed on bodies of water to optimize energy capture from both direct sunlight and water surface reflections. Additionally, the growing emphasis on energy storage integration is enabling bifacial solar systems to work in tandem with battery storage solutions, ensuring stable power supply even during cloudy conditions or nighttime hours. The expansion of agrivoltaics—where solar panels are combined with agricultural land use—is also gaining momentum, with bifacial panels providing enhanced efficiency while allowing sufficient sunlight penetration for crop growth. Furthermore, advancements in panel mounting systems, including adjustable tilt angles and reflective ground materials, are improving energy yield, making bifacial solar an increasingly viable option for commercial and industrial applications.

What Are the Key Growth Drivers Shaping the Future of the Bifacial Solar Market?

The growth in the bifacial solar market is driven by a combination of technological innovation, declining production costs, and the global push for clean energy adoption. One of the primary drivers is the falling cost of solar photovoltaic components, which has made bifacial technology more affordable and accessible to a wider range of users. As manufacturing processes become more efficient and economies of scale are realized, bifacial solar panels are expected to achieve price parity with traditional monofacial modules, further accelerating their adoption. Additionally, supportive government policies, including tax incentives, feed-in tariffs, and solar investment subsidies, are encouraging large-scale deployment of bifacial PV systems.

Another key driver shaping the market is the increasing demand for high-efficiency solar solutions in urban and industrial settings. With space constraints limiting the feasibility of expansive solar farms in certain regions, bifacial panels offer a practical solution for maximizing energy production within compact installations. Furthermore, the rising adoption of net-zero energy buildings and smart grids is creating new opportunities for integrating bifacial solar technology into commercial and residential infrastructure. The expansion of international climate commitments, such as the Paris Agreement, has also propelled investment in next-generation renewable energy technologies, positioning bifacial solar as a critical component in the transition to a sustainable energy future. As advancements in PV efficiency, energy storage, and smart grid integration continue to evolve, the bifacial solar market is poised for exponential growth, reshaping the global energy landscape for years to come.

SCOPE OF STUDY:

The report analyzes the Bifacial Solar market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Type (Dual-Glass Bifacial Solar, Glass-Backsheet Bifacial Solar); Frame Type (Framed Bifacial Solar, Frameless Bifacial Solar); Cell Technology (Passivated Emitter Rear Contact Technology, TOPCon Technology, Heterojunction Technology); Application (Utilities Application, Residential Application, Commercial and Industrial Application)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 32 Featured) -

• Adani Solar
• Auxin Solar Inc.
• Canadian Solar Inc.
• Crossroads Solar
• First Solar, Inc.
• JA SOLAR Technology Co.,Ltd
• Jinko Solar Co., Ltd.
• LONGi Green Energy Technology Co., Ltd. (LONGi)
• NEOSUN Energy HK Ltd.
• SEG Solar Inc.
• Sharp Electronics (Europe) Ltd
• Silfab Solar Inc.
• SoliTek
• Talesun Solar Co., Ltd.
• Tata Power Solar Systems Ltd.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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