Bifacial Solar Market Size, Share, Growth Analysis, By Type(Framed, and Frameless), By Application(Commercial, Residential, and Industrial), By Region - Industry Forecast 2024-2031

Drivers

High Demand for Efficient Energy Generation

• Bifacial solar panels are much more efficient and effective in energy generation as compared to monofacial panels and increasing efforts to improve energy generation efficiency in the solar industry to satisfy clean energy demand is slated to bolster bifacial solar market growth in the future.

Solar Technology Advancements

• High focus on sustainability has resulted in a boost in solar R&D initiatives around the world, which are giving some significant solar tech advancements. These advancements could improve the affordability and efficiency of bifacial solar products thereby driving market growth as well.

Restraints

Requirement of Specialized Mounting and Its Limited Availability

• Bifacial solar panels are mounted on special structures that are not as wide available as structures for monofacial panels. This limited availability of specialized mounting structures is projected to hamper the bifacial solar market development going forward.

Shading and Installation Issues

• Bifacial solar panels need to be installed in a perfect place so that they receive adequate sunlight to generate energy and finding such as spot in urban spaces where high rises shade the entire city blocks could be a challenge that could impede bifacial solar adoption.