Motivated by the rapidly rising deployment of bifacial monocrystalline‐silicon photovoltaics (PV), we investigate the durability of various PV module packaging configurations with transparent coverings on both the front and rear sides of the module. We use a series of bifacial passivated emitter and rear cell (p‐PERC) mini‐modules with systematically varying outer cover materials (glass/glass, G/G, or glass/transparent backsheet, G/TB) and encapsulant chemistries (poly [ethylene‐co‐vinyl acetate], EVA; or polyolefin, POE). We study degradation modes over 1,000 hours of combined damp heat (DH) exposure and high system voltages that can cause potential‐induced degradation (PID) under positive, zero, or negative 1,000 V cell‐to‐frame bias. We analyze the degradation modes using a combination of current–voltage measurements, impedance spectroscopy, external quantum efficiency, and spatially resolved luminescence and thermal imaging. Our results highlight various types of degradation including shunting, enhanced recombination, and series resistance increases, and we use spatially resolved characterization to separately identify the localized effects. We show that multiple PID and moisture‐ingress degradation modes severely affect EVA‐containing modules, with previously reported PID processes under negative‐bias DH and a unique observation of rear‐side surface recombination in G/EVA/G modules under positive‐bias DH. We observe significantly less degradation in POE‐containing modules, where the G/POE/G configuration exhibits minimal degradation under all stress conditions that we employ.