South Korea Bi-facial Solar Market Overview, 2031

Market Insights on South Korea Bi-facial Solar Market

• South Korea's bifacial solar market has established itself as a sophisticated and rapidly evolving segment within the nation's renewable energy landscape, with the Ministry of Trade, Industry and Energy (MOTIE) reporting that cumulative commercial solar power capacity reached approximately 27.1 GW by the end of 2024. The country added approximately 3.16 GW of new commercial solar capacity in 2024, recovering to the 3 GW level for the first time since 2021. By September 2025, the Korea Energy Agency confirmed that the number of solar power plants nationwide exceeded 181,531 sites, with cumulative capacity surpassing 28.2 GW.
• According to the research report, "South Korea Bi-facial Solar Market Overview, 2031," published by Bonafide Research, the South Korea Bi-facial Solar market is anticipated to add USD 400.05 Million by 2026–31. Bifacial modules have emerged as a key technology driver in this expansion, with the Korean Agency for Technology and Standards introducing a new KS certification standard in September 2025 that mandates bifacial modules be evaluated under Bifacial Nominal Power under Irradiance (BNPI) conditions rather than the traditional Standard Test Conditions (STC). This regulatory shift reflects the growing recognition that bifacial modules, which capture sunlight from both front and rear surfaces, can deliver approximately 5% to 10% additional power generation compared to conventional monofacial panels depending on installation environment.
• The market's evolution has been propelled by the government's Renewable Portfolio Standard (RPS) framework, which requires large power generators above 500 MW to meet renewable procurement targets, with the obligation rising from 14% in 2025 to 25% in 2026. MOTIE has also allocated KRW 111.8 billion (approximately $100 million) to expand solar power installations in residential and commercial buildings. The government's ambitious target of reaching 78 GW of renewable energy capacity by 2030 provides a clear trajectory for continued bifacial technology adoption across utility-scale, commercial, and residential segments.

Competitive Landscape of South Korea Bi-facial Solar Market

• Hanwha Q CELLS, the country's largest solar manufacturer, launched its Q.PEAK DUO G9 bifacial module in the domestic market during 2025, featuring Q.ANTUM DUO Z technology with front-side maximum output of 460 Wp-30 Wp higher than previous bifacial products. The company showcased its bifacial modules at the 2025 International Green Energy Expo in Daegu, demonstrating its commitment to the domestic market.
• HD Hyundai Energy Solutions has emerged as a significant player, securing an approximately $85 million module supply agreement for a major U.S. utility-scale solar project, with the contract exclusively utilizing high-output glass-to-glass bifacial modules produced entirely at the company's smart factory in South Korea. The company's bifacial modules can increase energy generation up to 19% compared to monofacial modules.
• S-Energy became the first Korean manufacturer to obtain HJT KS certification in early 2026, while also offering N-type TOPCon bifacial and mono PERC bifacial modules.
• LESSO Solar achieved a milestone by becoming the world's first photovoltaic company to obtain the latest version of Korean KS certification for its high-efficiency 210R N-type PV modules with bifaciality exceeding 80%. Entry barriers include mandatory KS certification for all solar modules sold in South Korea, with the new BNPI-based KS standard creating regulatory complexity.
• The value chain is characterized by strong domestic manufacturing capabilities, with Korean manufacturers producing advanced bifacial technologies including PERC, TOPCon, and HJT cell architectures. Consumer behavior shows clear preference for TOPCon technology in utility-scale applications, driven by Korea University research demonstrating TOPCon modules achieved 8.16% higher energy yield than PERC under real-world winter rooftop conditions in Seoul.

South Korea Market Dynamics

Driver: Renewable Portfolio Standard and Government Procurement
South Korea's bifacial solar market is driven by the Renewable Portfolio Standard (RPS), which mandates that large power generators above 500 MW procure a rising share of renewable energy, with the obligation increasing from 14% in 2025 to 25% in 2026. MOTIE's 1 GW solar tender in 2025 with a ceiling price of KRW 155,74 ($113.6)/MWh, along with preferential pricing for lower-carbon modules, creates stable demand for advanced bifacial technology. The Korea Energy Agency's fixed-price contract tenders and government funding of KRW 111.8 billion for residential and commercial solar expansion further accelerate adoption.

Challenge: Regulatory Uncertainty and Project Completion Rates
South Korea's bifacial solar market confronts significant challenges from regulatory uncertainty, particularly the transition from the existing RPS/REC system to a government-led competitive auction framework scheduled for 2027. The Korea Energy Agency reports that as of June 2025, only 155,469 of 252,197 approved solar projects had been completed, representing a completion rate of just 61.7%. The new BNPI-based KS certification standard, effective September 2025, has created industry confusion and administrative disruption, with industry experts warning of significant market turmoil in the second half of 2025.



Trend: Agrivoltaic Expansion and Land-Use Optimization
South Korea's bifacial solar market is witnessing a transformative trend toward agrivoltaic development, with the Ministry of Agriculture, Food and Rural Affairs announcing plans to introduce legislation by 2026 to expand agrivoltaic deployment. Agriculture Minister Song Mi-ryung met with farmers and solar companies at an agrivoltaic demonstration site in Cheongju where cabbage crops grow beneath solar panels. Pilot projects have been established in Sagot-ri, Hwaseong, and Hyeonmae-ri, Anseong. The period of farmland use for agrivoltaic systems in designated renewable energy zones will be extended from 8 years to up to 23 years. MOTIE's 'Industrial Complex Solar Power Activation Plan' drove 809 MW of solar installations on factory sites in 2024, a 64% year-on-year increase.

Segment Analysis

South Korea Bi-facial Solar Market by Type
Dual-glass bifacial modules have become the preferred architecture in South Korea's utility-scale and commercial markets, with HD Hyundai Energy Solutions' high-output glass-to-glass bifacial modules being produced exclusively at the company's smart factory. Hanwha Q CELLS' Q.PEAK DUO G9 bifacial module features dual-glass construction. The double-glass design provides superior protection against environmental degradation and maximizes rear-side light capture. The technology's compatibility with various mounting structures makes it suitable for South Korea's diverse installation environments, from industrial complexes to agricultural land.
Glass-backsheet bifacial modules serve applications where weight constraints are a consideration, with commercial and industrial rooftop installations representing the primary adoption segment. The Korea Energy Agency's data showing 181,531 solar power plants nationwide includes a substantial number of rooftop installations where glass-backsheet technology provides a lighter-weight alternative. The technology continues to evolve with manufacturers developing improved backsheet materials for enhanced rear-side light capture. The segment benefits from South Korea's distributed generation momentum and government funding for residential and commercial building solar expansion.

South Korea Bi-facial Solar Market by Cell Technology
• Passivated Emitter and Rear Contact bifacial technology maintains a significant presence in South Korea's market, with S-Energy offering mono PERC bifacial modules. Korea University research demonstrated PERC bifacial modules achieved a total energy yield of 34.61 Wh/Wp during winter rooftop testing in Seoul, with a bifaciality coefficient of 78.8%. The technology's mature manufacturing processes and established supply chains enable rapid deployment across utility-scale applications. PERC bifacial cells benefit from proven reliability and predictable performance characteristics. However, TOPCon's superior performance in real-world conditions is driving a technology transition.
• Tunnel Oxide Passivated Contact technology has emerged as the dominant next-generation cell architecture in South Korea's bifacial market, with modules achieving conversion efficiencies exceeding 24% and bifacial gains surpassing 85%. Korea University research demonstrated TOPCon modules achieved 37.44 Wh/Wp energy yield with 83.3% bifaciality coefficient, delivering 8.16% higher energy yield than PERC under winter rooftop conditions in Seoul. S-Energy offers N-type TOPCon bifacial modules. HD Hyundai Energy Solutions' N-Type TOPCon bifacial modules deliver up to 440W power. TOPCon's higher Voc is expected to deliver even better performance in summer conditions.
• Heterojunction technology is establishing a growing presence in South Korea's bifacial market, with S-Energy becoming the first Korean manufacturer to obtain HJT KS certification in early 2026. HD Hyundai Energy Solutions offers HJT-based modules with bifaciality up to 90 ±5% and efficiency up to 23%. The technology's superior temperature coefficient and bifaciality characteristics make it attractive for South Korea's diverse climate conditions. HJT's open patent system provides expansion opportunities in the Korean market. The technology's ability to deliver high performance in low-irradiance conditions aligns well with South Korea's seasonal solar resource profile.
• Emerging cell technologies continue to evolve in South Korea's research landscape, with the Presidential Committee on Carbon Neutrality highlighting bifacial modules among advanced technologies including half-cut cells and lead-free wires. Korean research institutions are exploring perovskite and tandem architectures. Empirical data from Korea Southeast Power Generation and Daegu Catholic University demonstrates bifacial modules achieve lower levelized cost of energy at KRW 114.7/kWh compared to KRW 117.8/kWh for monofacial modules over a 20-year operation period.

South Korea Bi-facial Solar Market by End-User
• The utility-scale segment represents a significant end-user market for bifacial solar technology in South Korea, with MOTIE's 1 GW solar tender in 2025 and the government's target of building more than 6 GW of solar power generation systems in RE100 industrial complexes by 2030. Commercial solar power cumulative capacity reached approximately 27.1 GW by end-2024. Solar installations on factory sites reached 809 MW in 2024, a 64% increase year-on-year. The Korea Energy Agency's fixed-price contract tenders provide stable demand. Bifacial modules are increasingly specified in ground-mounted utility projects.
• The commercial and industrial segment represents a growing application for bifacial technology, with MOTIE's funding of KRW 111.8 billion for residential and commercial building solar expansion. Solar installations on factory sites reached record highs in 2024. The 'Industrial Complex Solar Power Activation Plan' announced in July 2024 has driven C&I adoption. By region, Jeonnam (542 MW), Gyeongbuk (538 MW), Chungnam (521 MW), and Gyeonggi (370 MW) were identified as major installation areas. The C&I segment benefits from favorable economics and REC price improvements.
• The residential segment represents an emerging application for bifacial technology, with MOTIE allocating KRW 111.8 billion to expand solar power installations in residential buildings. The Korea Energy Agency's data showing approximately 181,531 solar power plants nationwide includes a substantial number of residential installations. Hanwha Q CELLS' Q.TRON M-G3R.12+/BFG bifacial module is specifically designed for residential PV plants with maximum efficiency of 22.7%. The residential segment benefits from net metering for systems up to 1 MW. However, residential bifacial adoption remains limited compared to utility-scale applications.


Considered in this report
• Historic Year: 2020
• Base year: 2025
• Estimated year: 2026
• Forecast year: 2031

Aspects covered in this report
• Bi-facial Solar Market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Type
• Dual-Glass Bifacial Solar
• Glass-Backsheet Bifacial Solar

By Cell Technology
• PERC
• TOPCon
• HJT
• Others

By End-User
• Utility-Scale
• Commercial & Industrial
• Residential