def clearness_index(ghi, solar_zenith, extra_radiation, min_cos_zenith=0.065,
                    max_clearness_index=2.0):
    """
    Calculate the clearness index.

    The clearness index is the ratio of global to extraterrestrial
    irradiance on a horizontal plane.

    Parameters
    ----------
    ghi : numeric
        Global horizontal irradiance in W/m^2.

    solar_zenith : numeric
        True (not refraction-corrected) solar zenith angle in decimal
        degrees.

    extra_radiation : numeric
        Irradiance incident at the top of the atmosphere

    min_cos_zenith : numeric, default 0.065
        Minimum value of cos(zenith) to allow when calculating global
        clearness index `kt`. Equivalent to zenith = 86.273 degrees.

    max_clearness_index : numeric, default 2.0
        Maximum value of the clearness index. The default, 2.0, allows
        for over-irradiance events typically seen in sub-hourly data.
        NREL's SRRL Fortran code used 0.82 for hourly data.

    Returns
    -------
    kt : numeric
        Clearness index

    References
    ----------
    .. [1] Maxwell, E. L., "A Quasi-Physical Model for Converting Hourly
           Global Horizontal to Direct Normal Insolation", Technical
           Report No. SERI/TR-215-3087, Golden, CO: Solar Energy Research
           Institute, 1987.
    """
    cos_zenith = tools.cosd(solar_zenith)
    I0h = extra_radiation * np.maximum(cos_zenith, min_cos_zenith)
    # consider adding
    # with np.errstate(invalid='ignore', divide='ignore'):
    # to kt calculation, but perhaps it's good to allow these
    # warnings to the users that override min_cos_zenith
    kt = ghi / I0h
    kt = np.maximum(kt, 0)
    kt = np.minimum(kt, max_clearness_index)
    return kt