Bifacial Solar Market Size

Bifacial Solar Market size was valued at USD 18.59 billion in 2024 and is likely to cross USD 113.09 billion by 2037, registering more than 14.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of bifacial solar is estimated at USD 20.94 billion.

Bifacial solar panels can collect solar energy from both the sides, resulting in better performance, and more energy generated by the panel. The growth of the market can be attributed to the increasing adoption of solar power, backed by the increasing environment awareness amongst the people. The growing awareness for the use of clean and renewable energy to curb the rising pollution level is estimated to be one of the primary factors estimated to drive the market growth.

According to the data by the International Energy Agency (IEA), power generation from solar PV has increased by 22% in 2019, to 720 TWh, which is up by 131 TWh globally in 2019. Rising government initiatives to promote the use of solar energy for various applications, as solar energy is a green and clean energy, are estimated to fuel the market growth.