© 2022 Elsevier LtdPassivated Emitter and Rear Contact (PERC) and Passivated Emitter Rear Totally Diffused (PERT) solar cell designs are now a market reality. In the production of these cells, ion implantation is another method for creating emitters and back surface field (BSF) regions, since it can facilitate the process flow and precise doping control. Here, Technology Computer Aided Design (TCAD) is utilized to assess the effects of ion implantation fluences, annealing temperature, and duration, on the performance of bifacial PERC solar cells. To ensure realistic simulation results, the solar cell model is developed using experimentally demonstrated bifacial counterparts. The process simulation models are also calibrated to match experimentally obtained doping profiles. Simulation results show that by replacing emitter diffusion with phosphorus ion implantation, both the front/rear efficiencies can be improved by 0.07%. The rear boron implantation is also optimized to provide an effective BSF, improving the front/rear efficiencies by 0.21/0.15%, respectively. Moreover, co-annealing of emitter and BSF regions exhibits a 0.2% increase in efficiency than separately annealed PERT cells. Hence an overall improvement of 0.48/0.42% is achieved in the front/rear efficiencies when compared to the original diffused emitter PERC design. The fabrication process sequence is also suggested for these solar cells.