The global bifacial solar panels market is likely to gain momentum from a rise in the demand for electricity from industrial and commercial sectors. According to an upcoming report by Fortune Business Insights, titled, “Bifacial Solar Panels“ Market Size, Share and Global Trend by Type (Monocrystalline Solar Panels, Polycrystalline Solar Panels, Thin-film Solar Panels), by Application (Residential, Commercial) and by Geography Forecast till 2027,” various small, medium, and big enterprises are coming up with solar modules that are infused with the latest technology. They are aiming to increase the global bifacial solar panels market sales by focusing on design, cost, and efficiency of the solar panels.
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The report classifies the global bifacial solar panels market on the basis of type, application, and geography. In terms of type, the market is segmented into polycrystalline solar panels, monocrystalline solar panels, and thin-film solar panels. Amongst these, the monocrystalline panel offers more energy-efficiency than the other two solar panels. This, combined with the high cost, makes it preferable for usage in commercial projects. Polycrystalline solar panels, on the other hand, are cost-effective and hence, are used more in residential projects.
- Prism Solar
- Lumos Solar
- Ankara Solar
- Suntech Power
- LG Electronics
- LONGi Solar
- Trina Solar
- SP Enerji
- Adani Solar
- Yingli Solar
- AE Solar
- JA Solar
- Jinko Solarm
- Canadian Solar Inc.
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Key Industry Developments
- In Feb 2019, LONGi Solar has bagged a contract to supply bifacial PERC modules for the largest solar project to be built in Mitchell County, Georgia, with a capacity of 224 MW. The project is expected to come online by the end of 2019
- In Feb 2019, Sunpreme, Inc. and Tigo Energy, Inc. has announced the completion of commercial solar installation on smart bifacial solar panels in California’s largest contiguous solar carport structures in the bay area
- In Jan 2017, Suntech Power has signed a strategic cooperation agreement with Jolywood Solar Technology to bring high-efficiency N-type bifacial solar module to the market
Key Market Driver – Increasing demand of electricity
Key Market Restraint – High installation cost
Key Segmental Overview:
1. By Type
- Monocrystalline Solar Panels
- Polycrystalline Solar Panels
- Thin-film Solar Panels
2. By Application
3. By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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Major Table of Content For Bifacial Solar Panels Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Bifacial Solar Panels Market Analysis, Insights and Forecast, 2027
- North America Bifacial Solar Panels Market Analysis, Insights and Forecast, 2027
- Europe Bifacial Solar Panels Market Analysis, Insights and Forecast, 2027
- Asia Pacific Bifacial Solar Panels Market Analysis, Insights and Forecast, 2027
- The Middle East and Africa Bifacial Solar Panels Market Analysis, Insights and Forecast, 2027
- Latin America Bifacial Solar Panels Market Analysis, Insights and Forecast, 2027
- Competitive Landscape
- Company Profile
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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