Bifacial solar market projected to reach $31.1b by 2031

Dual-sided solar panels can generate up to 30% more energy than traditional modules.

The bifacial solar market is seen to reach $31.1b by 2031, expanding 3.6% from 2022 to 2031.

According to Allied Market Research, this expansion “reflects increasing adoption of dual-sided solar modules, supportive government policies, and rising demand for cleaner electricity across residential, commercial, and industrial sectors.”

Bifacial solar panels are an advanced solar technology engineered with solar cells on both sides of the module. This design allows panels to generate electricity from both the front and rear surfaces, capturing direct sunlight as well as reflected and diffused light.

These panels often produce up to 30% more energy compared to traditional monofacial panels, depending on installation conditions.

Allied Market Research expects a significant growth in the Asia-Pacific due to rising urbanisation and demand for clean energy.

“With its ability to generate energy from both sides and deliver higher efficiency, bifacial technology is shaping the future of solar energy worldwide. As the global energy transition accelerates, bifacial solar panels will play a key role in building a sustainable, low-carbon future,” the report said.