Bifacial Solar Market to Reach USD 29.70 billion by 2027

1. Bifacial Solar Market to Reach USD 29.70 Billion By 2027 Market overview: Bifacial Solar MarketSize is estimated to reach USD 29.70 billion by the year 2027, with a CAGR of 16.81% from 2022 to 2027. Bifacial Solar is a photovoltaic solar cell that can produce electrical energy when illuminated on both its surfaces, front or rear. Instead, nonofficial solar cells only produce electrical energy when photons impinge on their front side; these are the main factors that have considerably increased the demand for the Bifacial Solar in the market, thereby driving the huge growth of the Bifacial Solar market in the upcoming years Market Drivers and Restrains: The main factors that have considerably increased the demand for the Bifacial Solar in the market is mainly due to the is proliferating on the global platform witnessing the increasing installations of bifacial modules worldwide. Bifacial solar modules offer several advantages over traditional solar panels, including power production from both sides, increasing total energy generation. Bifacial modules can generate more power in a smaller array footprint, reducing balance of system (BOS) costs. Besides, these modules are extremely durable, with UV resistants applied on both sides. Frameless bifacial modules are considered beneficial for reducing potential-induced degradation (PID) concerns. Many research institutes are increasingly conducting studies to improve functionalities of bifacial solar modules that can decrease the Levelized cost of electricity (LCOE) ; these are the main factors that have considerably increased the demand for the Bifacial Solar in the market, thereby driving the huge growth of the Bifacial Solar market in the upcoming years To know more read: https://www.marketdataforecast.com/market-reports/bifacial-solar-market Report is segmented as: Bifacial Solar Market is segmented on the basis of by: By Cell (Heterojunction Cell and Passivated Emitter Rear Cell), By Type (Framed Bifacial Module and Frameless Bifacial Module) Geographical Segmentation: Bifacial Solar Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa and rest of world. North America has the dominant share in theBifacial

2. Solar is due to the rising focus on the development of renewable energy sources these are the main factors that have considerably increased the demand for the Bifacial Solar in the North America , followed by Europe, Asia Pacific, Latin America and Middle East & Africa will register a slower increase in the Bifacial Solar Market Impact of COVID-19 on Market Covid -19 pandemic has affected almost every industry, and the long-term effects are projected to impact the Bifacial Solar growth during the forecast period. Covid-19 pandemic has impacted huge on the sales revenue of Bifacial Solar market .The restrictions and lockdown imposed by the government in several countries has slow down the market and decrease the demand for Bifacial Solar, In recent days relaxation in restrictions by the government and people are getting vaccinated to stop the spread of corona virus are expecting to raise the Bifacial Solar market growth