Bifacial Solar Panel Market: Overview
Solar energy has become one of the major sources of energy. Solar photovoltaic (PV) is an important source of renewable energy in the world. The cost of photovoltaic module has dropped significantly since the last few years. Governments are providing subsidies and encouraging the implementation of solar energy on a large scale. The current levelized cost of electricity (LCOE) of large-scale photovoltaic is lower than that of fossil fuel in some cases. New technological innovations, such as bifacial solar panel, can further reduce the levelized cost of electricity.
Bifacial Solar Panel Market: Trends
Bifacial solar panel absorbs light from the rear and front sides, allowing it to better use albedo light and diffused light. Albedo light is the part of light that hits a surface and reflects without being absorbed. The scattered light that comes from any direction is known as diffused light. Increase in efficiency up to 30% is predicted, depending on aspects such as height above ground, tilt angle, and reflectivity of the ground surface. Bifacial solar panel can absorb direct radiations from the sun, indirect diffused radiation caused by air particles or clouds, and also from the reflected radiation from surfaces close to the solar module. Furthermore, the glass-to-glass structure of bifacial module enhances long term durability vis-à-vis traditional glass-to-backsheet monofacial module. Various current thin-film photovoltaic technologies such as CIGS and dye-sensitized can be easily converted into bifacial solar panels.
Bifacial solar panel consists of bifacial solar cells and rear cover glass. The photon that does not get absorbed in the front layer can be absorbed when rebound from any adjacent surface. This increases the efficiency of the cell. The dual glass mounting provides various advantages such as reduction in delamination, micro cracking, and moisture corrosion. They have low degradation rate & cell temperature also have, high flameproof rating, mechanical strength and less flexing.
Bifacial Solar Panel Market: Key Segmentations
The global bifacial solar panel market can be segmented based on type, cell, and region. Based on cell, the bifacial solar panel market can be bifurcated into heterojunction cell and passivated emitter rear cell. Passivated emitter rear cell is available in poly and monocrystalline silicon versions, while heterojunction cells use monocrystalline silicon. In terms of type, the bifacial solar panel market can be divided into framed bifacial module and frameless bifacial module. Framed bifacial module is easy to install than the frameless module.
Bifacial Solar Panel Market: Regional Outlook
Based on region, the global bifacial solar panel market can be classified into North America, Europe, Latin America, Middle East & Africa, and Asia Pacific. Asia Pacific is projected to lead the global bifacial solar panel market during the forecast period, followed by North America and Europe. The bifacial solar panel market in Asia Pacific is likely to expand at a rapid pace during the forecast period, as countries such as Japan, China, and India are investing significantly in the field of solar energy. These countries also possess the largest installed base of solar panels in the world. Latin America and Middle East & Africa are anticipated to account for moderate shares of the global bifacial solar panel market by the end of the forecast period.
Bifacial Solar Panel Market: Key Players
Key players operating in the global bifacial solar panel market include bSolar, LG Electronics, MegaCell, Neo Solar Power, Panasonic, Prism Solar, PVG Solutions, SolarWorld, Yingli Green Energy, LONGi, Lumos Solar, Silfab, Sunpreme, and Trina Solar.