In some special circumstances, yes. But I also have one of these air to water heat pumps and it is entirely off during half of the year or more as the much cheaper solar-termal tubes on my roof cover all the hot water needs (and use the same water tank). I was expecting to be able to use the cold air and installed special openings in the cold air duct, but in the five years or so since I installed the heat pump I never even once had the opportunity to do so.