Bifacial Solar Market Size, Share, Trends, Growth and Forecast 2034

Bifacial Solar Industry Prospective:

The global bifacial solar market size was worth around USD 18.52 billion in 2024 and is predicted to grow to around USD 76.25 billion by 2034, with a compound annual growth rate (CAGR) of roughly 15.20% between 2025 and 2034.

Request Free Sample

Bifacial Solar Market: Overview

Bifacial solar modules absorb solar energy from both front and rear ends, unlike traditionally used monofacial solar panels. The dual-sided sunlight absorption trait of bifacial solar panels allows them to increase energy output even in areas with higher reflectivity.

According to market research, effective installation of bifacial solar modules with a highly reflective surface can increase energy productivity by 30% compared to monofacial counterparts.

At present, dual-sided solar panels are available in several types of designs, including framed and frameless versions. In addition to this, some bifacial solar panels may use dual-glass while others may use backsheets. Research indicates that framed bifacial solar panels are easier to install than frameless versions since the former can be installed on existing racking systems.

The forecast period is expected to open new avenues for future growth since bifacial solar panels are anticipated to become the future of capturing, storing, and providing solar energy to end-users. The ongoing rate of research & development (R&D) aimed at improving the overall function of bifacial solar may further help the bifacial solar industry thrive.

Key Insights:

• As per the analysis shared by our research analyst, the global bifacial solar market is estimated to grow annually at a CAGR of around 15.20% over the forecast period (2025-2034)
• In terms of revenue, the global bifacial solar market size was valued at around USD 18.52 billion in 2024 and is projected to reach USD 76.25 billion by 2034.
• The bifacial solar market is projected to grow at a significant rate due to the surging investments in harnessing renewable energy.
• Based on the type, the dual-glass bifacial solar segment is growing at a high rate and will continue to dominate the global market as per industry projections.
• Based on the technology, the passivated emitter and rear cell (PERC) segment is anticipated to command the largest market share.
• Based on region, Asia-Pacific is projected to dominate the global market during the forecast period.

Bifacial Solar Market: Growth Drivers

Surging investments in harnessing renewable energy to propel the market growth rate

The global bifocal solar market is expected to grow due to the rising interest in harnessing sustainable and renewable energy across economies worldwide. Traditional energy sources such as petrol, gas, coal, diesel, and other solutions are non-renewable. Excessive use of these energy sources impacts the environment in more than one way.

For instance, over-dependence on non-renewable energy over the years has resulted in the depletion of natural reserves, thus impacting the ecosystem of over-living organisms.

In addition, burning conventionally used fuel leads to an increased rate of environmental pollution in the form of changing climate conditions, depleting ozone layers, and water, air, & soil contamination. The awareness about the unsustainability of non-renewable energy has created an urgent need to harness other forms of energy sources, such as sunlight and wind power.

Solar panels, especially bifacial variants, have proven widely successful in trapping an extensive range of solar energy and powering smaller home electronic items to larger buildings and heavy machinery.

Increased support from the government and easier availability of bifacial solar modules to help the industry thrive

Regional governments worldwide have shown growing interest in encouraging the development and application of solar panels across residential, commercial, and industrial centers. Governments are promoting increased investments in large-scale manufacturing of solar panels, aided by launching new tax subsidies, grants, and other monetary or nonmonetary benefits.

In May 2023, the U.S. Treasury Department announced a new incentive allowing solar energy project developers to claim new subsidies for facilities built using American products, even if cells in system panels are made in China.

Similarly, other regional governments, including European and Asian officials, have launched novel, encouraging projects promoting the use of solar panels across panels for small-scale and large-scale applications, thus helping the global bifacial solar industry grow.

Bifacial Solar Market: Restraints

Questions over real-life efficiency of dual-faced solar modules to limit market growth rate

The global bifacial solar industry is expected to be restricted by the growing questions over the real efficiency of dual-sided sunlight-absorbing solutions.

While the front end of bifacial solar panels performs sun absorption similar to monofacial solar panels, the effectiveness of the rear end depends on the reflectivity of the ground surface, also known as ground albedo, along with other external factors. Inconsistent performance delivered by bifacial solar modules can impact the overall cost-efficiency of the technology.

Bifacial Solar Market: Opportunities

Growing advancements aimed at improving the performance of dual-sided solar modules to act in favor of market players

The global bifacial solar market is expected to generate growth avenues due to the surging technological advancements. The launch of new solutions creates more options for the end-buyers and also promotes healthy competition within the industry, paving the way for innovation.

In October 2024, Saatvik Solar, one of India's leading producers of solar modules, showcased its new offerings to the market at the Renewable Energy India Expo 2024 (REI 2024). The main highlight of the event included the launch of the G12R N-TOPCon Bifacial G2G (600Wp – 625Wp) solar module, which delivers at least 10 to 30% more output than traditional counterparts.

In January 2025, US-based SolarPanelRecycling.com (SPR), a solar recycling company, launched an automated dedicated bifacial module recycling line in the native region. With this move, the company has responded to the growing demand for bifacial recycling services.

On the other hand, in March 2025, Boviet Solar Technology Co. Ltd., a global company in the solar energy industry with expertise in Gamma Series™ Monofacial and Vega Series™ Bifacial PV modules, launched its new manufacturing facility in Greenville, North Carolina, US. The state-of-the-art unit is built with an investment of USD 294 million and will solidify the company’s presence in the market.

Bifacial Solar Market: Challenges

High cost of initial investment and competition from monofacial panels to challenge market revenue

The global bifacial solar industry is expected to be challenged by the high cost of initial investment associated with producing and procuring the technology. Individual panels of a 1-kilowatt bifacial solar system may cost over USD 500, depending on the regional production and demand rate.

In addition, installation costs may further increase the overall expenses associated with the use of the technology. The market continues to face tough competition from the existing popularity of monofacial panels, as they are abundantly available and enjoy the benefits of a mature market.

Request Free Sample

Bifacial Solar Market: Report Scope

Bifacial Solar Market: Segmentation

The global bifacial solar market is segmented based on type, frame type, technology, application, and region.

Based on type, the global market segments are glass-backsheet bifacial solar and dual-glass bifacial solar. In 2024, the highest growth was listed in the dual-glass bifacial solar segment, which dominated nearly 76% of the total revenue. Dual-glass bifacial solar offers several advantages, such as higher durability and limited delamination.

On the other hand, glass-back sheet bifacial solar panels are considered ideal for industrial or commercial scale applications since they can continue to deliver performance in difficult environments.

Based on frame type, the global bifacial solar industry is divided into frameless bifacial solar and framed bifacial solar.

Based on technology, the global market segments are heterojunction (HJT), TOPCon, and passivated emitter and rear cell (PERC). In 2024, the most revenue-generating segment was the passivated emitter and rear cell (PERC) segment, which accounted for 57% of the final revenue. The versatile application of PERC solar panels in low-light conditions will promote segmental revenue.

Furthermore, increased government support and the growing affordability of bifacial solar panels will propel segmental revenue in the coming years.

Based on application, the global market segments are utilities, commercial & industrial, and residential.

Bifacial Solar Market: Regional Analysis

Asia-Pacific to emerge as the highest revenue generator during the forecast period

The global bifacial solar market will be led by Asia-Pacific during the forecast period. China is currently the regional leader in terms of solar module production and end-user applications.

According to market research, China had a solar panel installation capacity of more than 390 GW, and it has increased since then.Growing energy demands in the country, in the backdrop of intensifying industrialization, rising manufacturing capacity, and the increasing number of residents in the region have propelled the use of bifacial solar panels since they deliver more energy outputs.

In January 2025, Chinese company Huasun, a leading producer of heterojunction (HJT) solar modules, announced the launch of a new dual-glass bifacial panel series with applications in vertical photovoltaics (PV). The company has used special frames made of alloy steel to increase the performance of the modules.

In March 2024, LONGi, another global player from China, launched Hi-MO X6 Bifacial Dual-Glass solar modules, a breakthrough product in the market. The new range is specially designed to tackle the challenges associated with hydrolysis reactions, adhesive film yellowing, and leakage degradation in PV modules.

Bifacial Solar Market: Competitive Analysis

The global bifacial solar market is led by players like:

• Hyundai Energy Solutions
• Trina Solar
• JinkoSolar
• Adani Solar
• LG Electronics
• Hyperion
• LONGi Solar
• REC Group
• Canadian Solar
• Primroot.com
• Aptos Solar Technology
• 3Sun
• Hanwha Q CELLS
• Boviet Solar
• SunPower

The global bifacial solar market is segmented as follows:

By Type

• Glass-backsheet Bifacial Solar
• Dual-glass Bifacial Solar

By Frame Type

• Frameless Bifacial Solar
• Framed Bifacial Solar

By Technology

• Heterojunction (HJT)
• TOPCon
• Passivated Emitter Rear Cell (PERC)

By Application

• Utilities
• Commercial & Industrial
• Residential

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa