The extraction of critical geophysical variables from multidecade archived satellite observations, such as those acquired by the European Meteosat First Generation satellite series, for the generation of climate data records is recognized as a pressing challenge by international environmental organizations. This paper presents a statistical method for the estimation of the surface albedo retrieval error that explicitly accounts for the measurement uncertainties and differences in the Meteosat radiometer characteristics. The benefit of this approach is illustrated with a simple case study consisting of a meaningful comparison of surface albedo derived from observations acquired at a 20 year interval by sensors with different radiometric performances. In particular, it is shown how it is possible to assess the magnitude of minimum detectable significant surface albedo change.