It reflects some of the Sun's radiation from the tops of the clouds back into space on the day side. Some of this radiation is intercepted by the spacecraft in addition to that which it receives directly from the Sun. We can therefore surmise that the thermal environment of a satellite overall is about the same or slightly warmer than that of the Earth itself. Hence there is not generally a problem with the overall power budget. In short we want to make our satellite more like the Earth than the Moon in terms of the range of temperatures, though we must recognise that the convection mode of heat transfer which effects this on Earth is not an available mechanism on a satellite.
Conduction is about the transfer of energy by collisions between one particle and another.
In general it is more effective in situations of higher density so we could expect solids to be good conductors. Spacecraft have a solid structure to give it strength and rigidity so conduction will always occur. We control the effectiveness of the conduction through our choice of materials and by controlling their geometry. For example a short, thick rod of any material is a better conductor than a long, thin rod of the same material. However any design has to be consistent with the mechanical constraints and the mass constraints.