Survey the water wheel area during the daytime. Determine the size of the water wheel and decide what angle you would like to illuminate it from. The larger the water wheel is, the more lights you will need to illuminate it. To create even lighting, you should plan on using a minimum of two lights that focus on the water wheel. Also plan to position lights around the circumference of the pond, spaced roughly 10 feet apart. Use sticks or posts to mark where you would like to place them.
Go to the hardware store. Purchase the desired number of flood light holders, each equipped with a solar panel. Make sure to select flood light holders that have a ground stake and a pivot, which will allow you to adjust the angle of the light's beam.
Purchase the desired number of flood lights and holders. Make sure to buy outdoor flood lights that are durable and have the correct wattage for the flood light holders you selected (the package should specify a range of wattages that will work with the flood light holder). If desired, you may purchase colored flood lights.
Screw the flood light bulbs into the flood light holders, and set up the flood lights into the positions you staked out earlier. For best results, this step should be completed during the daytime to allow the solar panels to charge.
Adjust the angle and direction of the lights so they illuminate the water wheel and pond to your liking. This step should be completed after dusk.