Water is a promising working fluid for high-temperature heat pumps (HTHPs) with the advantages of being cheap, safe, stable, environmentally friendly, non-toxic, and non-flammable. HTHPs using water as a refrigerant not only can reduce greenhouse gas emissions in the industrial sectors by recovering waste heat but also have no adverse effect on the environment if the refrigerant leaks. This article evaluates the safety, energy, and exergy performance of six designed HTHP configurations with water refrigerant by analyzing the discharge superheat, power consumption, heating capacity, COP, and exergy efficiency—at different condensation and evaporation temperatures. The results indicated that water injection and intercooling can effectively decrease the discharge superheat to ensure safety performance. Among these systems, two-stage cycles can supply higher output temperatures and have better system performance compared to single-stage cycles at high-temperature lifts and large compression ratio conditions. The two-stage system with a flash tank (TS-FT) has the biggest heating capacity, the best COP, and the best exergy efficiency. With an evaporation temperature of 80°C and condensation temperature of 140°C, the COP is 4.14 and the exergy efficiency is 70.9% for the TS-FT. Compared with the single-stage ordinary system (SS-OS), the COP of the TS-FT has an increment of 36.6%. The exergy efficiency of the TS-FT is 19.8% higher than that of the SS-OS. Considering the aforementioned theoretical analysis, the TS-FT with the best safety, energy, and exergy performance is the optimal HTHP system with water refrigerant for high-temperature applications.
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