Bifacial Solar Market Report 2025

This Bifacial Solar market report provides a comprehensive analysis of the market’s characteristics, size, and growth, including segmentation, regional and country-level breakdowns, competitive landscape, market shares, trends, and strategies. It also tracks historical and forecasted market growth across various geographies.

The bifacial solar market size has grown rapidly in recent years. It will grow from $9.14 billion in 2024 to $10.45 billion in 2025 at a compound annual growth rate (CAGR) of 14.4%. The growth in the historic period can be attributed to advancements in solar technology, government incentives, decreasing costs of solar panels, increased awareness of renewable energy sources, and significant investments in research and development.

The bifacial solar market size is expected to see rapid growth in the next few years. It will grow to $17.63 billion in 2029 at a compound annual growth rate (CAGR) of 14%. The growth in the forecast period can be attributed to growing installations of renewable energy, increased investment in green energy resources, continued government support through subsidies and policies, ongoing technological advancements in solar technology, initiatives aimed at reducing costs, and rising corporate adoption of sustainable energy solutions. Major trends in the forecast period include increased efficiency of bifacial panels, wider adoption across various sectors, expansion into emerging markets, integration with other renewable energy technologies, a stronger focus on sustainability and green energy solutions, corporate social responsibility initiatives, and a continuing decline in the costs associated with bifacial solar technology.

The growing demand for solar-based electricity is anticipated to drive the expansion of the bifacial solar market in the coming years. Solar-based electricity refers to the power generated from sunlight using photovoltaic cells or solar thermal systems. This demand is rising due to heightened environmental concerns and the global shift towards renewable energy sources to address climate change. Bifacial solar technology enhances solar power generation by enabling solar panels to capture sunlight from both sides, thereby significantly boosting energy output compared to traditional monofacial panels. For example, in January 2024, the Energy Information Administration, a US-based government agency, projected that solar power generation in the US would increase by 75%, rising from 163 billion kWh in 2023 to 286 billion kWh in 2025. Similarly, wind power generation is expected to grow by 11%, from 430 billion kWh in 2023 to 476 billion kWh in 2025. Consequently, the growing demand for solar-based electricity is fueling the growth of the bifacial solar market.

Key companies in the bifacial solar market are focusing on advancing bifacial solar technology to stay competitive. One such advancement is TOPCon bifacial PV modules, which integrate Tunnel Oxide Passivated Contact (TOPCon) technology with bifacial capability. These modules are designed to capture sunlight from both sides, enhancing energy efficiency compared to traditional monofacial modules. For instance, in April 2024, Adani Solar, a solar manufacturing company based in India, introduced the 575 W TOPCon bifacial PV module. This module provides high power output ranging from 550 W to 575 W with efficiencies up to 22.4%. It features a transparent back sheet and robust performance warranties, making it suitable for demanding solar power projects worldwide.

In August 2022, RWE AG, a Germany-based energy company involved in the generation, transmission, distribution, and trading of electricity and gas, acquired Alpha Solar for an undisclosed amount. Through this acquisition, RWE AG seeks to reinforce its position as a key player in the Polish renewable energy market by greatly expanding its solar project pipeline and boosting its operational capabilities in the region. Alpha Solar Sp. z o.o. is a Poland-based solar company that specializes in manufacturing and installing bifacial solar panels.

Major companies operating in the bifacial solar market are Reliance Industries Ltd, LG Electronics, LONGi Green Energy Technology Co. Ltd., Sharp Corporation, Trina Solar Co Ltd, Jinko Solar Holdings, JA Solar Technology Co. Ltd., Hanwha Solutions, Canadian Solar Inc., Risen Energy, First Solar Inc, Sun Power Corporation, GCL System Integration Technology Co Ltd, Wuxi Suntech Power Co. Ltd., Adani Green Energy Ltd, Zhongli Talesun Solar Co. Ltd, SoliTek, Seraphim Solar System Co. Ltd., Jiangsu Sunport Power Corp. Ltd., Yingli Green Energy Holding Co Ltd.

North America was the largest region in the bifacial solar market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bifacial solar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the bifacial solar market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Bifacial solar panels are photovoltaic modules designed to capture sunlight from both their front and rear sides, enhancing energy generation. These panels are generally more efficient than traditional monofacial panels because they take advantage of reflected and diffused light from the surrounding environment. Bifacial panels can be installed on various surfaces, including rooftops, ground mounts, and vertical surfaces, and are particularly effective in high-albedo environments, such as snowy or sandy areas.

The main types of bifacial solar panels include monocrystalline bifacial panels, polycrystalline bifacial panels, and thin-film bifacial panels. Monocrystalline bifacial panels are made from single-crystal silicon, offering high efficiency and durability. Bifacial panels can be installed as ground-mounted or rooftop systems. They come with different cell types, such as passivated emitter rear cell (PERC) and heterojunction cells, among others. These panels are utilized by various end-users, including utility-scale solar projects, the commercial and industrial (C&I) sectors, and the residential sector.

The bifacial solar market research report is one of a series of new reports that provides bifacial solar market statistics, including bifacial solar industry global market size, regional shares, competitors with an bifacial solar market share, detailed bifacial solar market segments, market trends and opportunities, and any further data you may need to thrive in the bifacial solar industry. This bifacial solar market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The bifacial solar market consists of sales of bifacial solar panels, inverters, mounting systems, and monitoring solutions. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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