Bifacial Solar Market Size to Reach US$ 60.85 billion by 2032: North Amrica’s Lead by 20.25% Share | LONGi, LG Electronics, Vikram Solar

Bifacial Solar Market

Bifacial Solar Market reached US$ 18.56 billion in 2024 and is expected to reach US$ 60.85 billion by 2032, growing with a CAGR of 16% during the forecast period 2025-2032.

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United States: Recent Industry Developments

✅ November 2025: First Solar announced a large-scale bifacial solar project in Arizona, improving energy yield by 15%.

✅ October 2025: Tesla Energy launched next-gen bifacial solar panels integrated with smart tracking systems for residential use.

✅ September 2025: SunPower expanded its bifacial solar panel manufacturing to meet growing demand in commercial solar farms.

Japan: Recent Industry Developments

✅ November 2025: Panasonic launched bifacial solar modules optimized for Japan’s limited rooftop spaces, enhancing efficiency in urban settings.

✅ October 2025: Sharp Corporation developed lightweight bifacial panels designed for floating solar installations.

✅ September 2025: Kyocera partnered with local utilities to deploy bifacial solar arrays in off-grid islands.

GCC: Recent Industry Developments

✅ November 2025: Masdar initiated a pilot bifacial solar farm project in Abu Dhabi focusing on maximizing power output in desert conditions.

✅ October 2025: Saudi Arabia’s ACWA Power invested in bifacial solar panel manufacturing facilities to support Vision 2030 goals.

✅ September 2025: Dubai Electricity and Water Authority (DEWA) integrated bifacial solar panels in its latest renewable energy projects.

Key Major Players:

LONGi, LG Electronics, Vikram Solar, Adani Group, and Trina Solar

Key Industry Developments:

Efficiency and Tech Milestones

• JinkoSolar delivered 1.32 GW N-type TOPCon bifacial modules for China’s largest offshore solar project in Shandong (Nov 2024), achieving up to 22.5% front-side efficiency with 30%+ bifacial gain.​

• Saatvik launched Bifacial Half Cut MBB modules at 545W/21.12% efficiency (early 2025), positioning as cost-competitive Indian alternative.​

• Emmvee secured ₹15B ($174M) order from KPI Green for TOPCon bifacial modules (Jun 2025), produced in Karnataka facilities.​

Major Projects and Auctions

• NTPC REL won 500 MW ISTS solar + 250 MW/1000 MWh ESS in SECI auction, tariff ₹3.52/kWh, emphasizing bifacial integration.​

• Tata Power commissioned 300 MW Rajasthan desert project using bifacial modules despite harsh conditions.​

• JUWI sold 156 MW Greece PV portfolio to Mirova, deploying 243,500 bifacial modules with trackers.​

• NLC India won 110 MW Uttar Pradesh solar contracts, sourcing 565.6 MWp bifacial modules

Forecast Projection:

The Global Bifacial solar Market is anticipated to rise at a considerable rate during the forecast period, between 2025 and 2032. In 2024, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Bifacial solar Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

Regional Share

• North America: 20.25% US utility-scale (95.8% US dominance), IRA tax credits

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• Europe: 15.20% Auctions in Germany/Spain/Italy, REPowerEU grants

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• Japan (in APAC): 4.6% (APAC 45-50%) Offshore/residential bifacial, ENE-FARM expansions

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• Middle East: 3.5% Saudi/UAE giga-projects (NEOM/ACWA), desalination hybrids

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Key Growth Segmentation:

By Panel Type: (Monocrystalline, Polycrystalline)

By Power Capacity: (Upto 200 WP, 200-400 WP, Above 400 WP)

By Frame Type: (With-Frame Type, Frameless Bifacial Solar)

By Cell Technology: (Passivated Emitter and Rear Contact (PERC), Heterojunction, Topcon, Others)

By Application: (Residential, Commercial & Industrial, Utilities)

Subsidy Changes by Country

India: PM Surya Ghar offers a ₹78,000 rooftop solar subsidy (up to 3kW) with state caps like UP’s ₹30,000; SECI auctions hit ₹2.55/kWh favoring bifacial panels.

• US: The Inflation Reduction Act (IRA) extends a 30% investment tax credit (ITC), doubling the tariff-free quota for bifacial solar cells to 5 GW.

• EU/Hungary: Fiscal credits of 150% are available for solar projects using ≥24% bifacial modules; Napenergia Plusz grants support 300,000 rooftop solar installations.

• China: The 14th Five-Year Plan emphasizes bifacial solar exports, maintaining manufacturing mandates without subsidy cuts.

Latest M & A

ONGPL acquired Ayana Renewable Power in the largest solar M&A of H1 2025, focusing on bifacial-heavy assets valued at $2.3 billion.

• EDP Renovaveis purchased a 40% stake in the 254 MW Cajuina bifacial solar complex in Brazil.

• BTG Pactual acquired a 60% share of Lightsource BP’s 336 MW bifacial projects (Milagres and Sebastopol) in Brazil.

• Omega Energia bought a 50% stake in the 150 MW Boa Vista bifacial project from FRV in Brazil.

• JUWI sold a 156 MW bifacial portfolio comprising 243,500 modules to Mirova in Greece.

• Brazil led solar deals with 33 transactions totaling 3.2 GW, marking a 65% year-over-year capacity growth from January to September 2025.

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Grid Interconnection Rule Changes

• CERC (India) eased ISTS connectivity by allowing SPVs/subsidiaries to submit land/financial docs independently (2025), reducing delays; market coupling phased in for uniform pricing/transmission efficiency; US model procedures streamlined via IREC best practices amid distributed solar strain.

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