Yup, we had a heat pump when we lived in Grand Valley.
There are 3 types of heat pumps available.
1/ Air source
Takes warmth or cool out of the air and is the least efficient.
2/ Ground source
Uses buried pipes with antifreeze circulating through them to extract warmth or cool from the grounds heat. Mid efficiency.
3/ Water source
uses water from your well and takes warmth or cool from it. Most efficient but you need a well that can supply enough water to run the system as well as the regular water needs of the home.
The water source system also needs a place to get rid of the water too. This is most often a pond.
Not a bad deal, I had ours stocked with fish.
Ours was a water source heat pump and it cost less to heat/cool our large ranch style house than the previous house in town that was 1/2 the size and used NG.