Yes, they do! Despite their name, heat pumps can also cool. Think of it as a reverse process: in the cold season, heat pumps absorb heat from the chilly external air and transfer it inside; in the hot season, they release outside the heat pulled from warm indoor air, cooling your home or building. The same principle applies to refrigerators, which work in the same way as a heat pump to keep your food cool.
All of this makes heat pumps very convenient – home and business owners do not need to install separate equipment for heating and cooling. Not only does this save time, energy and money, but it also takes up less space in your home.