Underwater grounding methods could be applied in deep water for grounding a floating PV (photovoltaic) system. However, the depth at which the electrodes should be located is a controversial subject. In this study, grounding resistance was measured for the first time by analyzing the water temperature at different water depths in an area where a floating PV system is installed. The theoretical calculation of the grounding resistance has a maximum error range of 8% compared to the experimentally measured data. In order to meet the electrical safety standards of a floating PV system, a number of electrodes were connected in parallel. In addition, the distance between electrodes and number of electrodes were considered in the test to obtain a formula for the grounding resistance. In addition, the coefficient of corrosion was obtained from an electrode installed underwater a year ago, and it was added to the formula. Through this analysis, it is possible to predict the grounding resistance prior to installing the floating PV system. Furthermore, the electrical safety of the floating PV system could be achieved by considering the seasonal changes in water temperature.