Do Heat Pumps work in Very Cold Climates?

Are heat pumps a good idea for very cold climates?
If you live in an area where electricity is affordable, you should consider a heat pump. They are an alternative to furnaces and air conditioners, as they can also supply cool air for a central air conditioning system during hot weather.
Heat pumps move heat rather than generate heat. This makes them very energy efficient. In fact, a heat pump can reduce your electricity consumption by 50%
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