The quest for sustainable energy solutions has led humanity beyond Earth, venturing into space. Earth-based solar power (EBSP) systems face challenges due to the planet's rotation, atmospheric environments, and weather conditions that can obstruct sunlight. In contrast, space-based solar power (SBSP) systems enable the utilization of 99 % of solar energy 24 h a day. However, while SBSP has shown the potential to produce a more stable power supply and sustainability, it is still in the early stages of its evolution, requiring further research and development. Previous studies have predominantly focused on specific SBSP technologies, limiting the evaluation of its potential. To overcome major challenges for high initial costs, technological complexities, and environmental impacts, this study proposes original achievements such as a comprehensive review of SBSP and innovative approaches to mitigate environmental impacts. Therefore, this study aims to propose a “Sustainable Vision” for SBSP in future smart grids. To achieve this, the study comprehensively reviews current technologies and considerations in relation to SBSP applications across its life cycle (i.e., manufacturing, transportation, installation, operation & maintenance, and end-of-life management stages). Furthermore, this study analyzes SBSP from techno-economic and socio-environmental perspectives, ultimately discussing its feasibility and applicability for sustainability in smart grids. This study contributes to providing a comprehensive overview and outlook on the feasibility of SBSP (i.e., technical challenges, economic potential, and socio-political insights). The interdisciplinary approach adopted in this study will help to enhance the holistic understanding of SBSP for sustainability, thereby fostering collaboration and decision-making among experts from various fields.