Emerging Innovations and Future Growth Opportunities in Bifacial Solar Cells

Emerging Innovations and Future Growth Opportunities in Bifacial Solar Cells

Maximizes Solar Energy Potential in Low-light Environments

RELEASE DATE
12-Jan-2024
REGION
Global
Deliverable Type
Market Research
Research Code: DAE3-01-00-00-00
SKU: EG_2023_509
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Description

Solar energy constituted 65% of the total 295 GW installed renewable capacity in 2022. About 70% of the deployed solar panels were monofacial panels that generate electricity from only the top side of the panel. Despite their popularity, these monofacial panels have encountered challenges related to space efficiency, energy yield, and dependence on direct sunlight.

Through its dual-side energy production feature, bifacial solar technology offers solutions to these challenges and significant improvements over traditional monofacial panels. As a result, bifacial solar panels will likely dominate the market by 2030. The compatibility of this technology with advanced solar technologies such as passivated emitter and rear contact (PERC), passivated emitter rear totally diffused cells (PERT), heterojunction technology (HJT), and tunnel oxide passivated contact (TOPCon) also indicate their future value. Their aesthetic appearance also enables the integration of efficient solar panels in diverse structural applications like building-integrated photovoltaics (BIPV) and agrivoltaics.

In this study, Frost & Sullivan offers a comparative analysis of various bifacial solar cells, their strengths and limitations, and cost analysis. The study also includes the advantages of bifacial over monofacial solar technology. We explore the latest trends, technological breakthroughs, and the patent landscape shaping this industry, providing insights into the market's driving forces, challenges, and potential growth areas. In addition, the study discusses leading global players steering the bifacial solar technology industry.

Table of Contents

Why Is It Increasingly Difficult to Grow?The Strategic Imperative 8™: Factors Creating Pressure on Growth

The Strategic Imperative 8™

The Impact of the Top 3 Strategic Imperatives on the Bifacial Solar Cell Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Research Methodology

Scope of Analysis

Segmentation

Growth Drivers

Growth Restraints

Introduction to Bifacial Solar Panels

The Impact of Bifacial Design Parameters

Advanced Bifacial Modules

Advanced Bifacial Modules (continued)

A Comparison of Advanced Bifacial Modules

Cost Analysis for Advanced Bifacial Solar Cells

Comparison of Popular Monofacial and Bifacial Solar Panels

Large-scale Manufacturing and Distribution of High Efficiency HPDC Bifacial Modules—LONGi, China

Busbar-less Aesthetic Bifacial Solar Panels for BIPV—LG Electronics Inc., South Korea

Dominant Players in the Bifacial Solar Sector

The United States Leads in the Patent Landscape

Developed and Developing Markets Deploy Bifacial Technology at a Large Scale

Growth Opportunity 1: Enhanced Solar Energy Generation Efficiency in Temperate Regions Through Bifacial Solar

Growth Opportunity 1: Enhanced Solar Energy Generation Efficiency in Temperate Regions Through Bifacial Solar (continued)

Growth Opportunity 2: The Utilization of Bifacial in Perovskite-based Tandem Cells Offers High Solar Efficiencies in Third-generation Solar Power

Growth Opportunity 2: The Utilization of Bifacial in Perovskite-based Tandem Cells Offers High Solar Efficiencies in Third-generation Solar Power (continued)

Growth Opportunity 3: Bifacial Solar Panels Enable Innovative Applications in Infrastructure-integrated Power Generation

Growth Opportunity 3: Bifacial Solar Panels Enable Innovative Applications in Infrastructure-integrated Power Generation (continued)

Technology Readiness Levels (TRL): Explanation

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Solar energy constituted 65% of the total 295 GW installed renewable capacity in 2022. About 70% of the deployed solar panels were monofacial panels that generate electricity from only the top side of the panel. Despite their popularity, these monofacial panels have encountered challenges related to space efficiency, energy yield, and dependence on direct sunlight. Through its dual-side energy production feature, bifacial solar technology offers solutions to these challenges and significant improvements over traditional monofacial panels. As a result, bifacial solar panels will likely dominate the market by 2030. The compatibility of this technology with advanced solar technologies such as passivated emitter and rear contact (PERC), passivated emitter rear totally diffused cells (PERT), heterojunction technology (HJT), and tunnel oxide passivated contact (TOPCon) also indicate their future value. Their aesthetic appearance also enables the integration of efficient solar panels in diverse structural applications like building-integrated photovoltaics (BIPV) and agrivoltaics. In this study, Frost & Sullivan offers a comparative analysis of various bifacial solar cells, their strengths and limitations, and cost analysis. The study also includes the advantages of bifacial over monofacial solar technology. We explore the latest trends, technological breakthroughs, and the patent landscape shaping this industry, providing insights into the market's driving forces, challenges, and potential growth areas. In addition, the study discusses leading global players steering the bifacial solar technology industry.
More Information
Deliverable Type Market Research
Author Rithima Warrier
Industries Energy
No Index No
Is Prebook No
Keyword 1 Renewable Energy Trends
Keyword 2 Bifacial Solar Cell Technology Trends
Keyword 3 Solar Cell Industry Insights
Podcast No
WIP Number DAE3-01-00-00-00