Accurately calculating the annual yield of floating PV (FPV) systems necessitates incorporating appropriate FPV-specific heat loss coefficients into the calculation, including both wind-dependent and wind-independent factors. The thermal behavior of several FPV systems has been investigated within this study, through the analysis of heat loss coefficients across various system sizes and configurations. Over a one-year period, data were collected from two measurement sites with three distinct systems: two ~50 kWp demonstrator-scale setups of Solarisfloat (azimuthal tracking) and Solar Float (East-West orientation) and a 2 MWp commercial-scale East–West system by Groenleven. The Solarisfloat demonstrator revealed a wind-dependent heat loss coefficient of 3.2 W/m3Ks. In comparison, the Solar Float demonstrator system displayed elevated wind-dependent heat loss coefficients, measuring 4.0 W/m3Ks for the east-facing module and 5.1 W/m3Ks for the west-facing module. The Groenleven system, which shares design similarities with Solar Float, showed lower wind-dependent heat loss coefficients of 2.7 W/m3Ks for the east-facing module and 2.8 W/m3Ks for the west-facing module. A notable discrepancy in the wind-dependent coefficients, particularly evident under a north wind direction, indicates a more efficient convective cooling effect by the wind on the demonstrator scale system of Solar Float. This could possibly be attributed to improved wind flow beneath its PV modules, setting it apart from the Groenleven system. Additionally, a thermal model founded on a ‘balance-of-energy’ methodology, integrating water temperature as a variable was introduced. The heat loss coefficient, dependent on the surface water temperature, fluctuated around zero, depending on whether the water temperature surpassed or fell below the ambient air temperature. It can be concluded that it is not of added value to introduce this floating specific heat loss coefficient parameter, as this parameter can be integrated in the wind speed independent Uc parameter.