Bifacial technology is attracting the attention of the photovoltaic community. Although considered premature, research and development activities still need to be carried out to improve bPV performance. In addition, the need for a standard test reference will aid bankability and increase confidence in this technology. This article describes the state of the art of bifacial technology, going through the bPV cell and its difference compared to conventional monofacial cells and listing the different sources of limitations, with an identification of different parameters that characterize the performance of the bifacial. Then, the paper reviews the different modeling methods that allow predicting the performance of bPV systems, and ends with the most important applications, whether for dual use of land to produce energy and food (agrivoltaic) or for placing bPV modules on water bodies instead of on the ground (aquavoltaics), or for vertical use as solar fences, acoustic barriers, or building-integrated photovoltaic modules.