Optimization of bifacial PV panels in a residential sector for maximum economic benefits based on load profile

This study investigates the optimization of bifacial PV panels in a residential setting, focusing on maximizing economic benefits based on load profiles. Using Islamabad, Pakistan, as a case study, we compare bifacial PV panels to traditional mono-facial PV panels in terms of energy performance and economic parameters, including net present value (NPV), levelized cost of energy (LCOE), energy generation, energy yield, and payback period. Simulations were conducted using the System Advisory Model (SAM), with data sourced from the Photovoltaic Geographical Information System (2005–2020). The results demonstrate that bifacial PV panels produce 10 % more energy than mono-facial panels in a south-facing configuration, leading to a 13.6 % higher NPV, a 4.5 % lower LCOE, and a 5 % shorter payback period. The performance of bifacial PV panels further improves with increased installation height, as the rear side captures additional irradiance. Vertically mounted east-facing bifacial PV panels offer unique economic advantages in zero-export grid-connected systems and real-time market price scenarios, generating two energy peaks that extend PV energy availability beyond traditional midday peaks. A hybrid configuration combining south-facing and east-facing bifacial PV panels produces three energy peaks daily, ensuring consistent energy output and further enhancing economic benefits. This study highlights the superior performance of bifacial PV systems over mono-facial systems across all evaluated energy and financial parameters. The findings provide actionable insights for residential PV system design, particularly in regions with similar solar resources, and underscore the potential of bifacial PV technology to optimize energy generation and economic returns.