In this chapter, we introduce the physic principle and applications of bifacial PV technology. We present different bifacial PV cell and module technologies as well as investigate the advantages of using bifacial PV technology in the field. We describe the measurement and modeling of Albedo, which is one of the important factors for the energy yield of bifacial PV technology. For an accurate assessment of the performance ratio of bifacial PV strings, it is necessary to measure the albedo irradiance using an albedometer or the front- and rear-side plane of array (POA) irradiance. We also discuss the advanced techniques for the characterization of bifacial PV modules. By means of simulation, we give insight into what boundary conditions result in new bifacial technology gains and the influence of the mounting position of irradiance sensors. We executed several simulations by varying the sensor positions on the rear side of the PV modules, different places, different albedo numbers, mounting heights, different geographical locations with various tilts, seasons, and weather types. To validate the simulation results, we performed various experiments in the field under different conditions. The results prove that the bifacial gain is highly dependent on the mounting heights of PV modules, tilt angles, weather conditions, latitude, and location.