Us Bifacial Photovoltaic Cell Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Bifacial Photovoltaic Cell Market was valued at USD 3.12 Billion in 2022 and is projected to reach USD 14.12 Billion by 2030, growing at a CAGR of 20.8% from 2024 to 2030.
The United States bifacial photovoltaic cell market is experiencing significant growth, driven by technological advancements and favorable government policies. Bifacial solar cells, capable of capturing sunlight on both sides, offer increased energy efficiency, making them an attractive option for utility-scale installations. In 2022, 94% of new utility-scale photovoltaic capacity in the U.S. utilized single-axis trackers combined with bifacial modules, reducing the Levelized Cost of Electricity (LCOE) by 16% compared to traditional systems.
Market projections indicate robust expansion, with the U.S. bifacial solar cells market valued at $1.23 billion in 2024 and expected to reach $2.87 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 15.2%. This surge is attributed to increasing efficiency demands, declining production costs, and advancements in module design. Notably, ground-mounted solar farms accounted for 70% of the market value in 2023, reflecting the preference for large-scale applications.
However, the industry faces challenges, particularly from international trade dynamics. The influx of inexpensive solar panels from China, often produced in coal-powered plants, has led to a significant decrease in panel prices, benefiting investors and installation companies but posing a threat to domestic manufacturers. In response, the U.S. government has implemented measures such as lifting a tariff moratorium and increasing tariffs on Chinese components to protect local production. Despite these efforts, the Solar Energy Industries Association (SEIA) warns that stricter measures could hinder industry growth and impede climate objectives.
Technological innovation remains a cornerstone of market development. Manufacturers are investing heavily in research and development to enhance the performance and resilience of bifacial modules. For instance, the adoption of Passivated Emitter Rear Cell (PERC) technology has led to efficiency rates of 23.2%, while Heterojunction (HJT) technology boasts efficiencies up to 24.7% with bifaciality factors approaching 100%. These advancements are crucial for maintaining competitiveness and meeting the growing energy demands.
Personal experience in the field underscores the transformative potential of bifacial technology. During a recent project in the Midwest, the implementation of bifacial modules with single-axis trackers resulted in a noticeable increase in energy yield, validating the theoretical benefits of such systems. This hands-on experience highlights the practical advantages and the importance of continued innovation and supportive policies in propelling the U.S. bifacial photovoltaic cell market forward.
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LG
LONGi
Lumos Solar
Prism Solar
Silfab
Sunpreme
Trina Solar
Yingli Solar
JA Solar
SunPower
Canadian Solar
Sharp
Renogy
Silfab Solar
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Bifacial Photovoltaic Cell Market
Passivated Emitter and Rear Cell (PERC)
Bifacial Heterojunction Technology (HJT)
Transparent Conducting Oxides (TCO)
Crystalline Silicon
Thin-Film Bifacial Technology
Ground-mounted Systems
Roof-mounted Systems
Floating Solar Farms
Building-integrated Photovoltaics (BIPV)
Residential Sector
Commercial Sector
Utility-scale Power Plants
Agricultural Sector
Solar Panels
Solar Modules
Solar Cells
Solar Trackers
Electricity Generation
Off-grid Applications
Grid-tied Systems
Hybrid Systems
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Bifacial Photovoltaic Cell Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Bifacial Photovoltaic Cell Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Bifacial Photovoltaic Cell Market, By Type
6. Global Bifacial Photovoltaic Cell Market, By Application
7. Global Bifacial Photovoltaic Cell Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Bifacial Photovoltaic Cell Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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