Bifacial PV modules have become the pervasive choice for utility-scale solar photovoltaic (PV) installations. Understanding bifacial PV performance for commercial deployments is, therefore, critically important. Although there have been studies on the modeling of Bifacial PV performance, to the best of our knowledge, the comprehensive integration of racking and mounting geometry for Bifacial PV performance simulation is yet to be reported. In this work, we modeled the racking and mounting geometry for a field-deployed operational PV array. We then applied optical ray-trace simulation to study the impact of those structures on array performance. The study reveals that the support structures have a considerable impact on the rear surface irradiance and overall bifacial PV performance, amounting to as much as 30% shading in certain situations. The work analyzes the impact of installation parameters such as tilt, height, and row spacing on the bifacial PV array’s performance. Thus, a novel holistic approach to studying the sensitivity of various installation parameters’ impact on bifacial PV array performance, with the racking and mounting structure’s geometry integrated, has been demonstrated through the work. This knowledge and its practice enables site-specific design optimization for utility-scale bifacial solar PV arrays and synergistic PV applications such as agrivoltaics and carports, where maximizing power generation is not necessarily the sole objective.