> the efficiency of solar panels in space is MUCH higher than on earth
Not really. The biggest difference between a panel on Earth and one in space is the space panel is illuminated 23 hours a day. So per panel you're getting 2-3x the illumination over the course of the day.
The drawback is even at the absolute cheapest pie in the sky Musk estimates of cost to orbit ($10/kg), a space solar panel is orders of magnitude more expensive than a ground panel. You could just deploy 3x the number of panels on Earth for 3x the price vs deploying in space at x\^3 the price.
Even with the near constant illumination of panels in space the losses from RF conversion, free space losses, atmospheric losses, and RF rectification eliminate a lot of your power gains. For those losses you also incur significant costs. So SBS is kind of a lose-lose problem. Every technology that would make SBS more practical could be applied on the ground for a tiny fraction of the cost.