Bifacial photovoltaics (BPVs) are emerging with large momentum as promising solutions to improve energy yield and cost of PV systems. To reach its full potential, an accurate understanding of the physical characteristics of BPV technology is required. For this reason, we collected experimental data to refine a physical model of BPV. In particular, we simultaneously measured the module temperature, short circuit current (Isc), open-circuit voltage (Voc), power at the maximum power point (Pmpp), and the energy yield of a bifacial and a monofacial minimodule. Such minimodules, realised with the same geometry, cell technology, and module lamination, were tested under the same clear sky outdoor conditions, from morning to afternoon, for three days. The bifacial system experimentally shows higher module temperatures under operation, about 10 °C on a daily average of about 40 °C. Nevertheless, its energy yield is about 15% larger than the monofacial one. We propose a physical quantitative model that fits the experimental data of module temperature, Isc, Voc, Pmpp, and energy yield. The model was then applied to predict the annual energy yield of PV module strings. The effect of different PV module temperature coefficients on the energy yield is also discussed.