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Pulished Date September, 2020
ID: 10119
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Bifacial Solar Market Segmentation By Cell (Heterojunction Cell and Passivated Emitter Rear Cell), By Type (Framed Bifacial Module and Frameless Bifacial Module) and Region - Industry Forecast to 2025

Pulished: September, 2020
ID: 10119
Pages: 175

Bifacial Solar Market Value and Growth Analysis (2020-2025)

The bifacial solar panel consists of bifacial solar cells and back cover glass. The photon that is not absorbed in the front layer can be absorbed by bouncing off any adjacent surface. This increases the efficiency of the cell. The double-glass mounting offers several benefits, like less delamination, microcracks, and moisture corrosion. They have low degradation rate and cell temperature, high fire resistance index, mechanical strength and less bending. Bifacial modules have approximately 3% less front surface output because light passes through the module between cells and cannot be reflected from the white backsheet as is the case with monofacial modules. The unit of measure by which photovoltaic modules are rated is Wp (watts peak). This makes sense because the power supplied by a single-sided PV installation is roughly proportional to the installed capacity and the balance of system costs is also largely determined by the installed capacity. However, as the industry grows, competition becomes more intense and manufacturers are exploiting niche industries with better prices.

Solar energy has become one of the main sources of energy. Solar photovoltaic (PV) energy is an important source of renewable energy in the world. The cost of the photovoltaic module has dropped considerably in recent years. Governments provide subsidies and encourage the deployment of solar energy on a large scale. The current discounted cost of electricity (LCOE) of large-scale PV is less than that of fossil fuels in some cases. New technological innovations, like bifacial solar panels, can further reduce the cost of electricity. The bifacial solar panel is the next generation technology with the high efficiency bifacial module on both sides producing electricity at the same time. It can also capture light as it reflects off the ceiling or the floor surface below the panel. Traditional solar panels have an opaque backsheet and have limited light exposure, however bifacial panels generate power from both sides. Some manufacturers of bifacial modules claim up to a 30% increase in power generation from the rear of the panel. Bifacial solar panels come in many designs and sizes and some can be customized according to customer requirements. These panels are highly energy efficient when frameless.

Bifacial Solar Market Trends:

The solar modules are aligned or even follow the sun. The back of standard solar modules receives only a small fraction of the energy captured by the front of the module. However, the rear surface can contribute 5% to 30% of the total energy balance. The word "bifacial" returns these days in the field of photovoltaics and heralds an emerging trend. Bifacial refers to a solar cell or solar module that is sensitive to light from both sides. This technology is not fundamentally new; Bifacial modules have been employed since the beginning of 1994 for applications like noise barriers on motorways. The fact that bifacial technology is gaining escalating interest can be attributed to several reasons. In general, module manufacturers continue their efforts to improve module performance and achieve added value.

Recent Developments and Trends

Tier 1 solar module manufacturer Vikram Solar announces the availability of three new pre-order product lines in the United States, including half-cell modules rated up to 425 watts and a linear power guarantee; and the company's first glass-to-glass bifacial module with a transparent bottom architecture.

Bifacial Solar Market Drivers

The bifacial solar panel absorbs the light from the back and front sides, allowing you to make better use of the albedo light and diffuse light. Albedo light is the part of light that hits a surface and is reflected without being absorbed. Light scattered from any direction is known as scattered light. An efficiency increases of up to 30% is predicted, depending on things like height above ground, tilt angle, and reflectivity of the ground surface. Besides, the glass-to-glass structure offered by the bifacial solar improves the durability when compared to the conventional modules. Several current thin film photovoltaic technologies, like CIGS and tint awareness, can easily be converted to bifacial solar panels.

Restraints:

The factor that is predicted to inhibit the expansion of the market is the huge installation cost.

Opportunities in the Bifacial Solar Market Industry:

The bifacial solar panel is available in a variety of sizes to suit different types of requirements. Globally, solar panel prices have dropped significantly over the years and the trend will continue throughout the forecast period. As the call for solar electricity increases around the world, companies are offering the latest advanced solar modules focused on the efficiency, cost and design of solar panels.

Bifacial Solar Market Segmentation:

By cell:

  • Heterojunction Cell

  • Passivated Emitter Rear Cell

Passivated emitter rear cell is present in monocrystalline silicon versions, while heterojunction cells utilize monocrystalline silicon.

By type:

  • Framed Bifacial Module

  • Frameless Bifacial Module

Bifacial Solar Regional Analysis:
The Bifacial Solar Report includes the segmentation of Regions with their respective Countries.

  • North America Bifacial Solar Industry includes U.S, Canada.

  • Europe Bifacial Solar Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.

  • Asia Pacific Bifacial Solar Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.

  • Latin America Bifacial Solar Industry includes Brazil, Mexico, Argentina, Chile & Rest of LATAM.

  • Middle East & Africa Bifacial Solar Industry includes KSA, UAE, Israel, rest of GCC countries, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA.

The Asia-Pacific bifacial solar market is likely to grow at a rapid pace during the forecast period as countries like Japan, China and India invest heavily in the solar energy field. These countries also have the largest installed base of solar panels in the world. Latin America and the Middle East and Africa are predicted to account for a moderate share of the global bifacial solar panel industry by the end of the forecast period. Europe and North America will dominate the bifacial solar panel industry due to escalated investment in solar projects in the area and is also predicted to account for a large share of the industry during the outlook period. Asia-Pacific countries like China, Australia and Indonesia are predicted to seize the biggest industry opportunity due to the huge expansion potential of solar projects planned for the next few years.

Bifacial Solar Market Key Players:

Key players operating in the global bifacial solar 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.

 

1. Introduction               

              1.1 Market Definition    

              1.2 Scope of the report 

              1.3 Study Assumptions 

              1.4 Base Currency, Base Year and Forecast Periods          

2. Research Methodology                         

              2.1 Analysis Design        

              2.2 Research Phases      

                             2.2.1 Secondary Research

                             2.2.2 Primary Research 

                             2.2.3 Data Modelling

                             2.2.4 Expert Validation

              2.3 Study Timeline         

3. Report Overview                      

              3.1 Executive Summary

              3.2 Key Inferencees       

4. Market Dynamics                     

              4.1 Impact Analysis       

                             4.1.1 Drivers

                             4.1.2 Restaints

                             4.1.3 Opportunities

              4.2 Regulatory Environment      

              4.3 Technology Timeline & Recent Trends           

5. Competitor Benchmarking Analysis                  

              5.1 Key Player Benchmarking    

                             5.1.1 Market share analysis

                             5.1.2 Products/Service

                             5.1.3 Regional Presence

              5.2 Mergers & Acquistion Landscape     

              5.3 Joint Ventures & Collaborations       

6. Market Segmentation                           

              6.1 Bifacial Solar Market, By Type           

                             6.1.1 Framed Bifacial Module

                             6.1.2 Frameless Bifacial Module

                             6.1.3 Market Size Estimations & Forecasts (2019-2024)

                             6.1.4 Y-o-Y Growth Rate Analysis

                             6.1.5 Market Attractiveness Index

              6.2 Bifacial Solar Market, By Cell             

                             6.2.1 Heterojunction Cell

                             6.2.2 Passivated Emitter Rear Cell

                             6.2.3 Market Size Estimations & Forecasts (2019-2024)

                             6.2.4 Y-o-Y Growth Rate Analysis

                             6.2.5 Market Attractiveness Index

7. Geographical Landscape                       

              7.1 Global Identity Governance and Administration Market, by Region 

              7.2 North America - Market Analysis (2018 - 2024)          

                             7.2.1 By Country

                             7.2.2 By Type

                             7.2.3 By Cell

              7.3 Europe        

                             7.3.1 By Country

                             7.3.2 By Type

                             7.3.3 By Cell

              7.4 Asia Pacific 

                             7.4.1 By Country

                             7.4.2 By Type

                             7.4.3 By Cell

              7.5 Latin America           

                             7.5.1 By Country

                             7.5.2 By Type

                             7.5.3 By Cell

              7.6 Middle East and Africa          

                             7.6.1 By Country

                             7.6.2 By Type

                             7.6.3 By Cell

8. Key Player Analysis                  

              8.1 bSolar          

                             8.1.1 Business Description

                             8.1.2 Products/Service

                             8.1.3 Financials

                             8.1.4 SWOT Analysis

                             8.1.5 Recent Developments

                             8.1.6 Analyst Overview

              8.2 LG Electronics          

              8.3 MegaCell    

              8.4 Neo Solar Power      

              8.5 Panasonic   

              8.6 Prism Solar 

              8.7 PVG Solutions          

              8.8 SolarWorld 

              8.9 Yingli Green Energy 

              8.10 Lumos Solar           

9. Market Outlook & Investment Opportunities               

Appendix                         

              List of Tables    

              List of Figures   

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Bifacial Solar Market By Region, From 2020-2025 ( USD Billion )
  2. Global Bifacial Solar Market By Type, From 2020-2025 ( USD Billion )
  3. Global Framed Bifacial Module Market By Region, From 2020-2025 ( USD Billion )
  4. Global Frameless Bifacial Module Market By Region, From 2020-2025 ( USD Billion )
  5. Global Bifacial Solar Market By Cell, From 2020-2025 ( USD Billion )
  6. Global Heterojunction Cell Market By Region, From 2020-2025 ( USD Billion )
  7. Global Passivated Emitter Rear Cell Market By Region, From 2020-2025 ( USD Billion )

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