Albedo was monitored over a two-year period (beginning April 2008) at three forested wetland sites in Florida, USA using up- and down-ward facing pyranometers. Water level, above and below land surface, is the primary control on the temporal variability of daily albedo. Relatively low reflectivity of water accounts for the observed reductions in albedo with increased inundation of the forest floor. Enhanced canopy shading of the forest floor was responsible for lower sensitivity of albedo to water level at the most dense forest site. At one site, the most dramatic reduction in daily albedo was observed during the inundation of a highly-reflective, calcareous periphyton-covered land surface. Satellite-based Moderate-Resolution Imaging Spectroradiometer (MODIS) estimates of albedo compare favorably with measured albedo. Use of MODIS albedo values in net radiation computations introduced a root mean squared error of less than 4.7 W/m2 and a mean, annual bias of less than 2.3 W/m2 (1.7%). These results suggest that MODIS-estimated albedo values can reliably be used to capture areal and temporal variations in albedo that are important to the surface energy balance.