Bifacial photovoltaic modules have gained increasing attention in the last decade due to their potential to achieve higher annual energy yield in comparison to conventional monofacial modules. Since the higher energy production is also accompanied by higher investment costs, it is necessary to conduct a careful techno-economic analysis in order to provide the investors an answer about their accurate cost efficiency. The achievable energy output of a bifacial photovoltaic power plant is influenced by many factors such as module geometry, row spacing, orientation of the modules and ground albedo. Since the methodology for prediction of the energy yield has not yet been standardized, the main target of this paper was to create one version of a comprehensive standalone energy calculator that would serve as a useful performance assessment tool for designers and investors. The developed software tool was tested on several characteristic scenarios and the obtained results were compared with the results provided by two freely available online calculators.