A crucial link in the global energy and water cycle is the heating of the land surface and consequent evaporation of water vapor from it that is regulated by the surface albedo. This paper reviews the current state of global land surface albedo data sets. The sensitivity of surface spectral and broadband albedoes derived from satellite radiances to atmospheric constituents such as water vapor, aerosol, and ozone is illustrated. Also, the derivation of broad band albedo from narrow band measurements is evaluated. To obtain high accuracy values and monitor their variations over climate time scales, satellite instrument calibrations need to be improved as will be demonstrated. Top-of-atmosphere shorwave fluxes calculated from different albedo data sets, including from MODIS, ISCCP and a new AVHRR-based product, are compared with CERES determinations. The importance of the differences in these albedo datasets to the top-of-atmosphere and surface radiation budgets will be illustrated. Suggestions will be given for maximizing the use of MODIS data to derive an "spectrally complete" and accurate albedo product and for using it to "calibrate" the longer AVHRR record.