diff --git a/docs/sphinx/source/reference/floating.rst b/docs/sphinx/source/reference/floating.rst
new file mode 100644
index 0000000000..5fa22a6049
--- /dev/null
+++ b/docs/sphinx/source/reference/floating.rst
@@ -0,0 +1,12 @@
+.. currentmodule:: pvlib
+
+Floating
+========
+
+Functions
+---------
+
+.. autosummary::
+   :toctree: generated/
+
+   floating.stream_temperature_stefan
diff --git a/docs/sphinx/source/reference/index.rst b/docs/sphinx/source/reference/index.rst
index 8a990ac923..92de6cc6fe 100644
--- a/docs/sphinx/source/reference/index.rst
+++ b/docs/sphinx/source/reference/index.rst
@@ -21,3 +21,4 @@ API reference
    scaling
    location
    transformer
+   floating
diff --git a/docs/sphinx/source/whatsnew/v0.11.1.rst b/docs/sphinx/source/whatsnew/v0.11.1.rst
index 7c8f01743e..1db92ed0d2 100644
--- a/docs/sphinx/source/whatsnew/v0.11.1.rst
+++ b/docs/sphinx/source/whatsnew/v0.11.1.rst
@@ -10,6 +10,12 @@ Deprecations
 
 Enhancements
 ~~~~~~~~~~~~
+* Add function :py:func:`pvlib.floating.stream_temperature_stefan`, to calculate the
+  water temperature for streams and rivers.
+  (:pull:`2104`)
+* Add new losses function that accounts for non-uniform irradiance on bifacial
+  modules, :py:func:`pvlib.bifacial.power_mismatch_deline`.
+  (:issue:`2045`, :pull:`2046`)
 * Add new function to calculate the average photon energy,
   :py:func:`pvlib.spectrum.average_photon_energy`.
   (:issue:`2135`, :pull:`2140`)
@@ -31,6 +37,7 @@ Enhancements
   :py:func:`pvlib.atmosphere.windspeed_powerlaw`.
   (:issue:`2118`, :pull:`2124`)
 
+
 Bug fixes
 ~~~~~~~~~
 
diff --git a/pvlib/__init__.py b/pvlib/__init__.py
index b5b07866a4..74f39a075a 100644
--- a/pvlib/__init__.py
+++ b/pvlib/__init__.py
@@ -8,6 +8,7 @@
     atmosphere,
     bifacial,
     clearsky,
+    floating,
     iam,
     inverter,
     iotools,
diff --git a/pvlib/floating.py b/pvlib/floating.py
new file mode 100644
index 0000000000..156fb26570
--- /dev/null
+++ b/pvlib/floating.py
@@ -0,0 +1,65 @@
+"""
+The ``floating`` module contains functions for calculating parameters related
+to floating PV systems.
+"""
+
+import numpy as np
+import pandas as pd
+
+
+def stream_temperature_stefan(temp_air):
+    r"""
+    Estimate daily stream water temperature from daily ambient air temperature.
+
+    Parameters
+    ----------
+    temp_air : numeric
+        Daily average ambient dry bulb temperature. [°C]
+
+    Returns
+    -------
+    water_temperature : numeric
+        Daily average stream water temperature. [°C]
+
+    Notes
+    -----
+    Daily average stream water temperature
+    :math:`T_w` is calculated from daily ambient air temperature
+    :math:`T_{air}` as provided in [1]_:
+
+    .. math::
+
+        T_w = 5 + 0.75 \cdot T_{air}
+
+    The predicted daily stream water temperatures had a
+    standard deviation of 2.7 °C compared to measurements. Small, shallow
+    streams had smaller deviations than large, deep rivers.
+
+    It should be noted that this equation is limited to streams, i.e., water
+    bodies that are well mixed in the vertical and transverse directions of a
+    cross section. Also, it is only tested on ice-free streams. Consequently,
+    when the mean ambient air temperature is lower than -6.66 °C, the surface
+    stream water temperature is returned as ``np.nan``.
+
+..warning::
+    This model was developed to estimate stream temperature. A number of
+    a number of publications have used it to estimate lakewater and
+    seawater temperatures for floating PV without evidence of validity
+    for such applications.
+
+    References
+    ----------
+    .. [1] Stefan H. G., Preud'homme E. B. (1993). "Stream temperature
+       estimation from air temperature." Journal of the American Water
+       Resources Association 29-1: 27-45.
+       :doi:`10.1111/j.1752-1688.1993.tb01502.x`
+    """
+
+    temp_stream = 5 + 0.75 * temp_air
+
+    temp_stream = np.where(temp_stream < 0, np.nan, temp_stream)
+
+    if isinstance(temp_air, pd.Series):
+        temp_stream = pd.Series(temp_stream, index=temp_air.index)
+
+    return temp_stream
diff --git a/pvlib/tests/test_floating.py b/pvlib/tests/test_floating.py
new file mode 100644
index 0000000000..2f5278887f
--- /dev/null
+++ b/pvlib/tests/test_floating.py
@@ -0,0 +1,43 @@
+import numpy as np
+import pandas as pd
+from pvlib import floating
+
+from .conftest import assert_series_equal
+from numpy.testing import assert_allclose
+import pytest
+
+
+@pytest.mark.parametrize('air_temp,water_temp', [
+    (-15, np.nan),
+    (-5, 1.25),
+    (40, 35),
+])
+def test_stream_temperature_stefan(air_temp, water_temp):
+    result = floating.stream_temperature_stefan(air_temp)
+    assert_allclose(result, water_temp)
+
+
+@pytest.fixture
+def times():
+    return pd.date_range(start="2015-01-01 00:00", end="2015-01-07 00:00",
+                         freq="1d")
+
+
+@pytest.fixture
+def air_temps(times):
+    return pd.Series([-15, -5, 2.5, 15, 20, 30, 40], index=times)
+
+
+@pytest.fixture
+def water_temps_expected(times):
+    return pd.Series([np.nan, 1.25, 6.875, 16.25, 20, 27.5, 35], index=times)
+
+
+def test_stream_temperature_stefan_ndarray(air_temps, water_temps_expected):
+    result = floating.stream_temperature_stefan(temp_air=air_temps.to_numpy())
+    assert_allclose(water_temps_expected.to_numpy(), result)
+
+
+def test_stream_temperature_stefan_series(air_temps, water_temps_expected):
+    result = floating.stream_temperature_stefan(temp_air=air_temps)
+    assert_series_equal(water_temps_expected, result)