diff --git a/docs/sphinx/source/whatsnew/v0.16.2.rst b/docs/sphinx/source/whatsnew/v0.16.2.rst
index f0b52494dc..4f0ef42d1c 100644
--- a/docs/sphinx/source/whatsnew/v0.16.2.rst
+++ b/docs/sphinx/source/whatsnew/v0.16.2.rst
@@ -31,6 +31,10 @@ Documentation
 * Fix the :py:func:`pvlib.spa.solar_position` docstring, which listed
   outputs ``elevation`` and ``apparent_elevation`` in the wrong order.
   (:issue:`2886`, :pull:`2887`)
+* Document in :py:func:`pvlib.iotools.read_epw` that each record is labelled
+  with the start of its hour, unlike :py:func:`pvlib.iotools.read_tmy3`, and
+  how to label it with the time given in the EPW file. (:issue:`1156`,
+  :pull:`2894`)
 
 
 Testing
@@ -56,6 +60,7 @@ Contributors
 * Chen Yi (:ghuser:`chenyi6758-source`)
 * Rajiv Daxini (:ghuser:`rdaxini`)
 * jason-writer (:ghuser:`jason-writer`)
+* Christoph Deil (:ghuser:`cdeil`)
 
 
 
diff --git a/pvlib/iotools/epw.py b/pvlib/iotools/epw.py
index 01c87c180a..c3dd848676 100644
--- a/pvlib/iotools/epw.py
+++ b/pvlib/iotools/epw.py
@@ -208,6 +208,17 @@ def read_epw(filename, coerce_year=None):
     |                               | liquid precipitation depth field, hour  |
     +-------------------------------+-----------------------------------------+
 
+    .. warning:: EPW irradiance and illuminance values are totals over the
+        hour *ending* at the time in the file, while temperatures, humidity
+        and pressure are values *at* that time [1]_. ``read_epw`` labels
+        each record with the *start* of its hour: EPW hour 1 (00:00-01:00)
+        becomes 00:00, so a full year runs from 00:00 on 1 January to 23:00
+        on 31 December. :py:func:`~pvlib.iotools.read_tmy3` labels each record
+        with the *end* of its hour instead, so the same data read from an EPW
+        file and from a TMY3 file are one hour apart. To label the records
+        with the time given in the EPW file, add one hour to the index:
+        ``data.index = data.index + pd.Timedelta('1h')``.
+
 
     References
     ----------