diff --git a/docs/sphinx/source/whatsnew/v0.16.2.rst b/docs/sphinx/source/whatsnew/v0.16.2.rst
index 5893d8bf46..d665c6ad38 100644
--- a/docs/sphinx/source/whatsnew/v0.16.2.rst
+++ b/docs/sphinx/source/whatsnew/v0.16.2.rst
@@ -50,6 +50,11 @@ Documentation
   and :py:func:`~pvlib.irradiance.get_sky_diffuse` docstrings.
   (:issue:`2897`, :pull:`2904`)
 
+* Document in :py:func:`pvlib.iotools.read_epw` that each record is labeled
+  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
 ~~~~~~~
@@ -80,3 +85,4 @@ Contributors
 * :ghuser:`bfs2021`
 * :ghuser:`xiajiahang`
 * Jakub Krasuski (:ghuser:`Blizzeq`)
+* Christoph Deil (:ghuser:`cdeil`)
diff --git a/pvlib/iotools/epw.py b/pvlib/iotools/epw.py
index 01c87c180a..3be36bdbff 100644
--- a/pvlib/iotools/epw.py
+++ b/pvlib/iotools/epw.py
@@ -209,6 +209,19 @@ def read_epw(filename, coerce_year=None):
     +-------------------------------+-----------------------------------------+
 
 
+    .. warning:: In hourly EPW files, radiation totals and illuminance
+        averages cover the hour *ending* at the file time; temperature,
+        humidity and pressure are values *at* that time [1]_.
+        ``read_epw`` labels all fields with the *start* of the hour (EPW
+        hour 1 becomes 00:00), while :py:func:`~pvlib.iotools.read_tmy3`
+        uses the *end*.
+
+        To use end-of-hour labels, add one hour to the index:
+        ``data.index = data.index + pd.Timedelta('1h')``. The record for
+        31 December's final hour then has the label 1 January 00:00 of
+        the following year. No records are added or removed.
+
+
     References
     ----------