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Abstract Evapotranspiration (ET) is a critical process influencing energy, water, and carbon cycles. Numerous methods have been developed to estimate ET accurately and robustly across diverse scales. Many of these methods are constrained by reliance on remote sensing data, which is prone to gaps, or by the need for model calibration and training. This study evaluates the performance of the calibration‐free surface flux equilibrium theory (SFET) for ET estimation at 33 Ameriflux sites in the continental USA. SFET‐derived ET estimates are intercompared with widely used continental remote sensing products, including ECOsystem Spaceborne Thermal Radiometer Experiment on Space Station, Moderate Resolution Imaging Spectroradiometer, and SSEBop. Results indicate that SFET consistently outperforms these ET products. SFET's performance is found to be better under wet conditions and clear skies, with reduced accuracy under arid and high evaporative stress conditions. Overall, SFET exhibits significant potential for providing accurate, continuous, long‐term ET estimates, paving the way for operational application in uninstrumented regions over large scales. 

Abstract Accurate assessment of changes in water availability with changing climate is vital for effective mitigation and adaptation. In this research, we employ a parsimonious Budyko curve method to evaluate changes in water availability under low‐ (SSP126) and high‐emission (SSP585) scenarios for 331 river basins in the contiguous United States. We also assess the relative role of changes in precipitation (∆P) and potential evapotranspiration (∆PET) with changing climate on the increase in water availability vulnerability. Results highlight that around 43% (28%) of basins are projected to experience increased vulnerability to changing climate in high‐emission (low‐emission) scenarios. Sub‐humid basins are most often impacted, while arid and semi‐arid basins exhibit lower sensitivity to changes. Intriguingly, ∆PET emerges as the dominant control on vulnerability, surpassing ∆P, particularly under SSP585 scenario. The analysis prompts water managers to focus on long‐term mitigation planning and scientists to further constraint climate and water budget forecasts in affected basins.