Two places where the system acts
At the surface, it is about the sun. Its radiation is short-wave; the top coat throws a high share of it back — this is described by the total solar reflectance. Only the solar energy arriving from outside is meant, not the heat the wall gives off itself.
Inside the material the subject is conduction. Heat conduction needs continuous contact; where the solid is interrupted, the short path breaks off. The hollow ceramic spheres in the functional layer and the top coat are exactly those interruptions. How much this amounts to in total cannot be derived from the principle alone — that is what the manufacturer’s characteristic values and the measurement on the finished element are for.