A new multifunctional water source heat pump system is presented in this paper. The new technical program, consisting of the refrigerant system and water system, can achieve a variety of functions in its yearly work process. In the heating mode, hot water is produced by two-step heating. An experimental research on the program is implemented through the establishment of experimental platform, and the results are presented as follows: under the function of cooling and heat recovery, (15.4–57)% of the total condense heat can be recovered, when the inlet water of heat source heat exchanger is at a certain temperature, the refrigerating capacity remains about the same with the decrease of water flow in the heat source heat exchanger. Under the function of individual cooling, an added water-to-water heat exchanger stabilizes the operation of refrigerant system in the new technical program, increases the cooling coefficient of performance (COPc) and at the same time reduces the scaling risk of heat source heat exchanger. When the new technical program is operated with the large temperature difference of hot water in the heating mode, the heating coefficient of performance (COPh) and the heating capacity are elevated, the power of compressor reduced.
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