Water temperature is a key abiotic factor influencing aquatic ecosystem health and the services provided to both nature and humans. Global water temperature models offer possibilities to improve our understanding of water temperature regimes, which is increasingly important against the backdrop of climate change. Yet, existing studies have predominantly relied on a single model, which can lead to an incomplete representation of uncertainty and potential biases, in addition to limited insight into the range of possible future conditions, which ultimately reduces the robustness of climate impact assessments. Here, we provide a comprehensive assessment of surface freshwater temperature changes from various river and lake models for both past conditions and under future scenarios of climate change. Global models consistently simulate that surface water temperatures are currently 0.5 °C–0.8 °C higher than at the turn of the century (i.e. 1981–2000), and that warming will extend and intensify with future global change throughout the 21st century. While the strength of warming is highly sensitive to the different water temperature models, emissions scenarios and global climate models, our multi-model ensemble shows a global average annual water temperature rise of between +1.3 °C and +4.1 °C by the end of the century. To illustrate a potential societal impact of our results, we evaluate how future changes in discharge and water temperature may affect existing thermoelectric power plants, estimating average annual reductions of 1.5%–6% in global usable capacity by the end of the century. However, with river water temperatures projected to exhibit more pronounced seasonal patterns in the future—especially under the more extreme climate change scenarios and during summer months in the Northern Hemisphere—intra-annual reductions in usable capacity can be much more severe. Given the challenges associated with (large-scale) adaptation to control water temperature regimes, str