Yes! Contrary to the name, heat pumps can cool air, too. Rather than actually heating or cooling air, heat pumps use compressed refrigerant to redistribute heat either inside or outside your home.
All heat pumps can also act as air conditioners. When heating, a heat pump takes outside warmth and disperses it in your home. When cooling, heat is transferred from your home to the outdoors. That’s what air conditioning does!
So when you upgrade to a heat pump, you’re installing an all-inclusive heating and cooling system for your home.