Bifacial photovoltaics (PV) is gaining rapid attention and their ability to generate more electricity is accelerating their deployment globally. However, literature on optimal bifacial PV is presented for the installation parameters of the system. In this study, we use response surface methodology (RSM) to investigate the flex and roadside reflector wastes as alternate reflectors for bifacial solar PV panels by using a statistical model. Our primary objective in this study is to examine the significant influence of key input factors (front irradiation, rear irradiation, temperature, thickness, and height) on the irradiance factor, total solar reflectance, and power extracted. The results show that the power extraction of the bifacial PV module using the waste flex material is 9%, higher than that of the road side sticker waste. The result indicates that among all other input factors, front irradiation is the most significant parameter.