PERC tech powers bifacial solar market growth through 2029

The report by ResearchAndMarkets.com projected the global bifacial solar market to grow from $18.5 billion in 2024 to $37.6 billion by 2029 at a CAGR of 15.2%. Growth was driven by reduced production costs and improved technology. Bifacial panels reached grid parity with conventional sources, supported by government incentives. The PERC segment led due to its compatibility with advanced cell designs. Glass-backsheet panels followed as the second-largest segment due to process innovations. Asia Pacific was the leading region, supported by grid integration. Canadian Solar expanded through agreements and new facilities. Drivers included declining costs and higher efficiency. Restraints involved installation complexity and albedo dependence. Opportunities came from new technologies and government support. Challenges included grid injection issues and energy competition. Case studies covered projects by Sharp with Big C and HP, and Ashok Textiles. Company profiles included LONGi, Trinasolar, Canadian Solar, JA Solar, Jinko Solar, and others.