diff --git a/docs/sphinx/source/reference/iotools.rst b/docs/sphinx/source/reference/iotools.rst
index 8e2a3034d2..7c71c797d9 100644
--- a/docs/sphinx/source/reference/iotools.rst
+++ b/docs/sphinx/source/reference/iotools.rst
@@ -31,7 +31,6 @@ of sources and file formats relevant to solar energy modeling.
    iotools.get_nsrdb_psm4_conus
    iotools.get_nsrdb_psm4_full_disc
    iotools.read_nsrdb_psm4
-   iotools.parse_nsrdb_psm4
    iotools.get_psm3
    iotools.read_psm3
    iotools.parse_psm3
diff --git a/docs/sphinx/source/whatsnew/v0.12.1.rst b/docs/sphinx/source/whatsnew/v0.12.1.rst
index 9f13e32476..5b8e6c103f 100644
--- a/docs/sphinx/source/whatsnew/v0.12.1.rst
+++ b/docs/sphinx/source/whatsnew/v0.12.1.rst
@@ -23,9 +23,9 @@ Enhancements
   :py:func:`~pvlib.iotools.get_nsrdb_psm4_aggregated`,
   :py:func:`~pvlib.iotools.get_nsrdb_psm4_tmy`,
   :py:func:`~pvlib.iotools.get_nsrdb_psm4_conus`,
-  :py:func:`~pvlib.iotools.get_nsrdb_psm4_full_disc`,
-  :py:func:`~pvlib.iotools.read_nsrdb_psm4`, and
-  :py:func:`~pvlib.iotools.parse_nsrdb_psm4`. (:issue:`2326`, :pull:`2378`)
+  :py:func:`~pvlib.iotools.get_nsrdb_psm4_full_disc`, and
+  :py:func:`~pvlib.iotools.read_nsrdb_psm4`. (:issue:`2326`, :pull:`2378`,
+  :pull:`2445`)
 
 Documentation
 ~~~~~~~~~~~~~
diff --git a/pvlib/iotools/__init__.py b/pvlib/iotools/__init__.py
index d188435879..352044e5cd 100644
--- a/pvlib/iotools/__init__.py
+++ b/pvlib/iotools/__init__.py
@@ -16,7 +16,6 @@
 from pvlib.iotools.psm4 import get_nsrdb_psm4_conus  # noqa: F401
 from pvlib.iotools.psm4 import get_nsrdb_psm4_full_disc  # noqa: F401
 from pvlib.iotools.psm4 import read_nsrdb_psm4  # noqa: F401
-from pvlib.iotools.psm4 import parse_nsrdb_psm4  # noqa: F401
 from pvlib.iotools.pvgis import get_pvgis_tmy, read_pvgis_tmy  # noqa: F401
 from pvlib.iotools.pvgis import read_pvgis_hourly  # noqa: F401
 from pvlib.iotools.pvgis import get_pvgis_hourly  # noqa: F401
diff --git a/pvlib/iotools/psm4.py b/pvlib/iotools/psm4.py
index 119002388c..2c3522b952 100644
--- a/pvlib/iotools/psm4.py
+++ b/pvlib/iotools/psm4.py
@@ -11,6 +11,7 @@
 import requests
 import pandas as pd
 from json import JSONDecodeError
+from pvlib import tools
 
 NSRDB_API_BASE = "https://developer.nrel.gov/api/nsrdb/v2/solar/"
 PSM4_AGG_ENDPOINT = "nsrdb-GOES-aggregated-v4-0-0-download.csv"
@@ -82,7 +83,7 @@ def get_nsrdb_psm4_aggregated(latitude, longitude, api_key, email,
     Aggregated v4 API.
 
     The NSRDB is described in [1]_ and the PSM4 NSRDB GOES Aggregated v4 API is
-    described in [2]_,.
+    described in [2]_.
 
     Parameters
     ----------
@@ -132,7 +133,7 @@ def get_nsrdb_psm4_aggregated(latitude, longitude, api_key, email,
         timeseries data from NREL PSM4
     metadata : dict
         metadata from NREL PSM4 about the record, see
-        :func:`pvlib.iotools.parse_nsrdb_psm4` for fields
+        :func:`pvlib.iotools.read_nsrdb_psm4` for fields
 
     Raises
     ------
@@ -151,19 +152,15 @@ def get_nsrdb_psm4_aggregated(latitude, longitude, api_key, email,
         result in rejected requests.
 
     .. warning:: PSM4 is limited to data found in the NSRDB, please consult
-        the references below for locations with available data. Additionally,
-        querying data with < 30-minute resolution uses a different API endpoint
-        with fewer available fields (see [4]_).
+        the references below for locations with available data.
 
     See Also
     --------
     pvlib.iotools.get_nsrdb_psm4_tmy, pvlib.iotools.get_nsrdb_psm4_conus,
-    pvlib.iotools.get_nsrdb_psm4_full_disc, pvlib.iotools.read_nsrdb_psm4,
-    pvlib.iotools.parse_nsrdb_psm4
+    pvlib.iotools.get_nsrdb_psm4_full_disc, pvlib.iotools.read_nsrdb_psm4
 
     References
     ----------
-
     .. [1] `NREL National Solar Radiation Database (NSRDB)
        <https://nsrdb.nrel.gov/>`_
     .. [2] `NSRDB GOES Aggregated V4.0.0
@@ -213,7 +210,7 @@ def get_nsrdb_psm4_aggregated(latitude, longitude, api_key, email,
     # the CSV is in the response content as a UTF-8 bytestring
     # to use pandas we need to create a file buffer from the response
     fbuf = io.StringIO(response.content.decode('utf-8'))
-    return parse_nsrdb_psm4(fbuf, map_variables)
+    return read_nsrdb_psm4(fbuf, map_variables)
 
 
 def get_nsrdb_psm4_tmy(latitude, longitude, api_key, email, year='tmy',
@@ -225,7 +222,7 @@ def get_nsrdb_psm4_tmy(latitude, longitude, api_key, email, year='tmy',
     TMY v4 API.
 
     The NSRDB is described in [1]_ and the PSM4 NSRDB GOES TMY v4 API is
-    described in [2]_,.
+    described in [2]_.
 
     Parameters
     ----------
@@ -276,7 +273,7 @@ def get_nsrdb_psm4_tmy(latitude, longitude, api_key, email, year='tmy',
         timeseries data from NREL PSM4
     metadata : dict
         metadata from NREL PSM4 about the record, see
-        :func:`pvlib.iotools.parse_nsrdb_psm4` for fields
+        :func:`pvlib.iotools.read_nsrdb_psm4` for fields
 
     Raises
     ------
@@ -295,19 +292,16 @@ def get_nsrdb_psm4_tmy(latitude, longitude, api_key, email, year='tmy',
         result in rejected requests.
 
     .. warning:: PSM4 is limited to data found in the NSRDB, please consult
-        the references below for locations with available data. Additionally,
-        querying data with < 30-minute resolution uses a different API endpoint
-        with fewer available fields (see [4]_).
+        the references below for locations with available data.
 
     See Also
     --------
     pvlib.iotools.get_nsrdb_psm4_aggregated,
     pvlib.iotools.get_nsrdb_psm4_conus, pvlib.iotools.get_nsrdb_psm4_full_disc,
-    pvlib.iotools.read_nsrdb_psm4,pvlib.iotools.parse_nsrdb_psm4
+    pvlib.iotools.read_nsrdb_psm4
 
     References
     ----------
-
     .. [1] `NREL National Solar Radiation Database (NSRDB)
        <https://nsrdb.nrel.gov/>`_
     .. [2] `NSRDB GOES Tmy V4.0.0
@@ -357,7 +351,7 @@ def get_nsrdb_psm4_tmy(latitude, longitude, api_key, email, year='tmy',
     # the CSV is in the response content as a UTF-8 bytestring
     # to use pandas we need to create a file buffer from the response
     fbuf = io.StringIO(response.content.decode('utf-8'))
-    return parse_nsrdb_psm4(fbuf, map_variables)
+    return read_nsrdb_psm4(fbuf, map_variables)
 
 
 def get_nsrdb_psm4_conus(latitude, longitude, api_key, email, year='2023',
@@ -369,7 +363,7 @@ def get_nsrdb_psm4_conus(latitude, longitude, api_key, email, year='2023',
     v4 API.
 
     The NSRDB is described in [1]_ and the PSM4 NSRDB GOES CONUS v4 API is
-    described in [2]_,.
+    described in [2]_.
 
     Parameters
     ----------
@@ -418,7 +412,7 @@ def get_nsrdb_psm4_conus(latitude, longitude, api_key, email, year='2023',
         timeseries data from NREL PSM4
     metadata : dict
         metadata from NREL PSM4 about the record, see
-        :func:`pvlib.iotools.parse_nsrdb_psm4` for fields
+        :func:`pvlib.iotools.read_nsrdb_psm4` for fields
 
     Raises
     ------
@@ -437,19 +431,16 @@ def get_nsrdb_psm4_conus(latitude, longitude, api_key, email, year='2023',
         result in rejected requests.
 
     .. warning:: PSM4 is limited to data found in the NSRDB, please consult
-        the references below for locations with available data. Additionally,
-        querying data with < 30-minute resolution uses a different API endpoint
-        with fewer available fields (see [4]_).
+        the references below for locations with available data.
 
     See Also
     --------
     pvlib.iotools.get_nsrdb_psm4_aggregated,
     pvlib.iotools.get_nsrdb_psm4_tmy, pvlib.iotools.get_nsrdb_psm4_full_disc,
-    pvlib.iotools.read_nsrdb_psm4, pvlib.iotools.parse_nsrdb_psm4
+    pvlib.iotools.read_nsrdb_psm4
 
     References
     ----------
-
     .. [1] `NREL National Solar Radiation Database (NSRDB)
        <https://nsrdb.nrel.gov/>`_
     .. [2] `NSRDB GOES Conus V4.0.0
@@ -499,7 +490,7 @@ def get_nsrdb_psm4_conus(latitude, longitude, api_key, email, year='2023',
     # the CSV is in the response content as a UTF-8 bytestring
     # to use pandas we need to create a file buffer from the response
     fbuf = io.StringIO(response.content.decode('utf-8'))
-    return parse_nsrdb_psm4(fbuf, map_variables)
+    return read_nsrdb_psm4(fbuf, map_variables)
 
 
 def get_nsrdb_psm4_full_disc(latitude, longitude, api_key, email,
@@ -513,7 +504,7 @@ def get_nsrdb_psm4_full_disc(latitude, longitude, api_key, email,
     Disc v4 API.
 
     The NSRDB is described in [1]_ and the PSM4 NSRDB GOES Full Disc v4 API is
-    described in [2]_,.
+    described in [2]_.
 
     Parameters
     ----------
@@ -563,7 +554,7 @@ def get_nsrdb_psm4_full_disc(latitude, longitude, api_key, email,
         timeseries data from NREL PSM4
     metadata : dict
         metadata from NREL PSM4 about the record, see
-        :func:`pvlib.iotools.parse_nsrdb_psm4` for fields
+        :func:`pvlib.iotools.read_nsrdb_psm4` for fields
 
     Raises
     ------
@@ -582,19 +573,16 @@ def get_nsrdb_psm4_full_disc(latitude, longitude, api_key, email,
         result in rejected requests.
 
     .. warning:: PSM4 is limited to data found in the NSRDB, please consult
-        the references below for locations with available data. Additionally,
-        querying data with < 30-minute resolution uses a different API endpoint
-        with fewer available fields (see [4]_).
+        the references below for locations with available data.
 
     See Also
     --------
     pvlib.iotools.get_nsrdb_psm4_aggregated,
     pvlib.iotools.get_nsrdb_psm4_tmy, pvlib.iotools.get_nsrdb_psm4_conus,
-    pvlib.iotools.read_nsrdb_psm4, pvlib.iotools.parse_nsrdb_psm4
+    pvlib.iotools.read_nsrdb_psm4
 
     References
     ----------
-
     .. [1] `NREL National Solar Radiation Database (NSRDB)
        <https://nsrdb.nrel.gov/>`_
     .. [2] `NSRDB GOES Full Disc V4.0.0
@@ -644,19 +632,19 @@ def get_nsrdb_psm4_full_disc(latitude, longitude, api_key, email,
     # the CSV is in the response content as a UTF-8 bytestring
     # to use pandas we need to create a file buffer from the response
     fbuf = io.StringIO(response.content.decode('utf-8'))
-    return parse_nsrdb_psm4(fbuf, map_variables)
+    return read_nsrdb_psm4(fbuf, map_variables)
 
 
-def parse_nsrdb_psm4(fbuf, map_variables=True):
+def read_nsrdb_psm4(filename, map_variables=True):
     """
-    Parse an NSRDB PSM4 weather file (formatted as SAM CSV).
+    Read an NSRDB PSM4 weather file (formatted as SAM CSV).
 
     The NSRDB is described in [1]_ and the SAM CSV format is described in [2]_.
 
     Parameters
     ----------
-    fbuf: file-like object
-        File-like object containing data to read.
+    filename: str, path-like, or buffer
+        Filename or in-memory buffer of a file containing data to read.
     map_variables: bool, default True
         When true, renames columns of the Dataframe to pvlib variable names
         where applicable. See variable :const:`VARIABLE_MAP`.
@@ -726,12 +714,19 @@ def parse_nsrdb_psm4(fbuf, map_variables=True):
     Examples
     --------
     >>> # Read a local PSM4 file:
+    >>> df, metadata = iotools.read_nsrdb_psm4("data.csv")  # doctest: +SKIP
+
+    >>> # Read a file object or an in-memory buffer:
     >>> with open(filename, 'r') as f:  # doctest: +SKIP
-    ...     df, metadata = iotools.parse_nsrdb_psm4(f)  # doctest: +SKIP
+    ...     df, metadata = iotools.read_nsrdb_psm4(f)  # doctest: +SKIP
 
     See Also
     --------
-    pvlib.iotools.read_nsrdb_psm4, pvlib.iotools.get_psm4
+    pvlib.iotools.get_nsrdb_psm4_aggregated
+    pvlib.iotools.get_nsrdb_psm4_tmy
+    pvlib.iotools.get_nsrdb_psm4_conus
+    pvlib.iotools.get_nsrdb_psm4_full_disc
+    pvlib.iotools.read_psm3
 
     References
     ----------
@@ -740,11 +735,26 @@ def parse_nsrdb_psm4(fbuf, map_variables=True):
     .. [2] `Standard Time Series Data File Format
        <https://web.archive.org/web/20170207203107/https://sam.nrel.gov/sites/default/files/content/documents/pdf/wfcsv.pdf>`_
     """
-    # The first 2 lines of the response are headers with metadata
-    metadata_fields = fbuf.readline().split(',')
-    metadata_fields[-1] = metadata_fields[-1].strip()  # strip trailing newline
-    metadata_values = fbuf.readline().split(',')
-    metadata_values[-1] = metadata_values[-1].strip()  # strip trailing newline
+    with tools._file_context_manager(filename) as fbuf:
+        # The first 2 lines of the response are headers with metadata
+        metadata_fields = fbuf.readline().split(',')
+        metadata_values = fbuf.readline().split(',')
+        # get the column names so we can set the dtypes
+        columns = fbuf.readline().split(',')
+        columns[-1] = columns[-1].strip()  # strip trailing newline
+        # Since the header has so many columns, excel saves blank cols in the
+        # data below the header lines.
+        columns = [col for col in columns if col != '']
+        dtypes = dict.fromkeys(columns, float)
+        dtypes.update({'Year': int, 'Month': int, 'Day': int, 'Hour': int,
+                       'Minute': int, 'Cloud Type': int, 'Fill Flag': int})
+
+        data = pd.read_csv(
+            fbuf, header=None, names=columns, usecols=columns, dtype=dtypes,
+            delimiter=',', lineterminator='\n')  # skip carriage returns \r
+
+    metadata_fields[-1] = metadata_fields[-1].strip()  # trailing newline
+    metadata_values[-1] = metadata_values[-1].strip()  # trailing newline
     metadata = dict(zip(metadata_fields, metadata_values))
     # the response is all strings, so set some metadata types to numbers
     metadata['Local Time Zone'] = int(metadata['Local Time Zone'])
@@ -752,22 +762,9 @@ def parse_nsrdb_psm4(fbuf, map_variables=True):
     metadata['Latitude'] = float(metadata['Latitude'])
     metadata['Longitude'] = float(metadata['Longitude'])
     metadata['Elevation'] = int(metadata['Elevation'])
-    # get the column names so we can set the dtypes
-    columns = fbuf.readline().split(',')
-    columns[-1] = columns[-1].strip()  # strip trailing newline
-    # Since the header has so many columns, excel saves blank cols in the
-    # data below the header lines.
-    columns = [col for col in columns if col != '']
-    dtypes = dict.fromkeys(columns, float)  # all floats except datevec
-    dtypes.update(Year=int, Month=int, Day=int, Hour=int, Minute=int)
-    dtypes['Cloud Type'] = int
-    dtypes['Fill Flag'] = int
-    data = pd.read_csv(
-        fbuf, header=None, names=columns, usecols=columns, dtype=dtypes,
-        delimiter=',', lineterminator='\n')  # skip carriage returns \r
+
     # the response 1st 5 columns are a date vector, convert to datetime
-    dtidx = pd.to_datetime(
-        data[['Year', 'Month', 'Day', 'Hour', 'Minute']])
+    dtidx = pd.to_datetime(data[['Year', 'Month', 'Day', 'Hour', 'Minute']])
     # in USA all timezones are integers
     tz = 'Etc/GMT%+d' % -metadata['Time Zone']
     data.index = pd.DatetimeIndex(dtidx).tz_localize(tz)
@@ -779,41 +776,3 @@ def parse_nsrdb_psm4(fbuf, map_variables=True):
         metadata['altitude'] = metadata.pop('Elevation')
 
     return data, metadata
-
-
-def read_nsrdb_psm4(filename, map_variables=True):
-    """
-    Read an NSRDB PSM4 weather file (formatted as SAM CSV).
-
-    The NSRDB is described in [1]_ and the SAM CSV format is described in [2]_.
-
-    Parameters
-    ----------
-    filename: str or path-like
-        Filename of a file containing data to read.
-    map_variables: bool, default True
-        When true, renames columns of the Dataframe to pvlib variable names
-        where applicable. See variable :const:`VARIABLE_MAP`.
-
-    Returns
-    -------
-    data : pandas.DataFrame
-        timeseries data from NREL PSM4
-    metadata : dict
-        metadata from NREL PSM4 about the record, see
-        :func:`pvlib.iotools.parse_nsrdb_psm4` for fields
-
-    See Also
-    --------
-    pvlib.iotools.parse_nsrdb_psm4, pvlib.iotools.get_psm4
-
-    References
-    ----------
-    .. [1] `NREL National Solar Radiation Database (NSRDB)
-       <https://nsrdb.nrel.gov/>`_
-    .. [2] `Standard Time Series Data File Format
-       <https://web.archive.org/web/20170207203107/https://sam.nrel.gov/sites/default/files/content/documents/pdf/wfcsv.pdf>`_
-    """
-    with open(str(filename), 'r') as fbuf:
-        content = parse_nsrdb_psm4(fbuf, map_variables)
-    return content
diff --git a/pvlib/tools.py b/pvlib/tools.py
index b08d061676..63406f4e0d 100644
--- a/pvlib/tools.py
+++ b/pvlib/tools.py
@@ -2,6 +2,7 @@
 Collection of functions used in pvlib_python
 """
 
+import contextlib
 import datetime as dt
 import warnings
 
@@ -559,3 +560,29 @@ def normalize_max2one(a):
     except ValueError:  # fails for pandas objects
         res = a.div(a.abs().max(axis=0, skipna=True))
     return res
+
+
+def _file_context_manager(filename_or_object, mode='r'):
+    """
+    Open a filename/path for reading, or pass a file-like object
+    through unchanged.
+
+    Parameters
+    ----------
+    filename_or_object : str, path-like, or file-like object
+        The filename/path or object to convert to an object
+
+    Returns
+    -------
+    context : context manager
+        A file-like object to be used via python's "with [context] as buffer:"
+        syntax.
+    """
+
+    if hasattr(filename_or_object, "read"):
+        # already a file-like object
+        context = contextlib.nullcontext(filename_or_object)
+    else:
+        # otherwise, assume a filename or path
+        context = open(str(filename_or_object), mode=mode)
+    return context
diff --git a/tests/iotools/test_psm4.py b/tests/iotools/test_psm4.py
index 3efe279a61..6447aed33b 100644
--- a/tests/iotools/test_psm4.py
+++ b/tests/iotools/test_psm4.py
@@ -150,22 +150,22 @@ def test_get_nsrdb_psm4_aggregated_errors(
 
 @pytest.fixture
 def io_input(request):
-    """file-like object for parse_nsrdb_psm4"""
+    """file-like object for read_nsrdb_psm4"""
     with MANUAL_TEST_DATA.open() as f:
         data = f.read()
     obj = StringIO(data)
     return obj
 
 
-def test_parse_nsrdb_psm4(io_input):
-    """test parse_nsrdb_psm4"""
-    data, metadata = psm4.parse_nsrdb_psm4(io_input, map_variables=False)
+def test_read_nsrdb_psm4_buffer(io_input):
+    """test read_nsrdb_psm4 with a file-like object as input"""
+    data, metadata = psm4.read_nsrdb_psm4(io_input, map_variables=False)
     expected = pd.read_csv(YEAR_TEST_DATA)
     assert_psm4_equal(data, metadata, expected)
 
 
-def test_read_nsrdb_psm4():
-    """test read_nsrdb_psm4"""
+def test_read_nsrdb_psm4_path():
+    """test read_nsrdb_psm4 with a file path as input"""
     data, metadata = psm4.read_nsrdb_psm4(MANUAL_TEST_DATA,
                                           map_variables=False)
     expected = pd.read_csv(YEAR_TEST_DATA)
diff --git a/tests/test_tools.py b/tests/test_tools.py
index 013716549b..821b9fec65 100644
--- a/tests/test_tools.py
+++ b/tests/test_tools.py
@@ -1,4 +1,8 @@
 from datetime import datetime
+from io import StringIO
+import os
+from pathlib import Path
+import tempfile
 from zoneinfo import ZoneInfo
 
 import numpy as np
@@ -252,3 +256,29 @@ def test_djd_to_datetime():
 
     expected = datetime(1974, 6, 22, 23, 30, 15, tzinfo=ZoneInfo("UTC"))
     assert tools.djd_to_datetime(djd) == expected
+
+
+def test__file_context_manager():
+    with tempfile.TemporaryDirectory() as td:
+        # make a test file
+        filename = os.path.join(td, 'test.txt')
+        with open(filename, 'w') as fh:
+            fh.write('test content')
+
+        # test with filename as string:
+        with tools._file_context_manager(filename) as obj:
+            assert obj.read() == "test content"
+
+        # test with filename as Path:
+        with tools._file_context_manager(Path(filename)) as obj:
+            assert obj.read() == "test content"
+
+        # test with file object:
+        with open(filename, "r") as f:
+            with tools._file_context_manager(f) as obj:
+                assert obj.read() == "test content"
+
+    # test with buffer:
+    buffer = StringIO("test content")
+    with tools._file_context_manager(buffer) as obj:
+        assert obj.read() == "test content"