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A heating and cooling system includes an evaporator, a compressor, and a condenser. A heat exchanger, which may be an outdoor heat exchanger, is configured to receive the refrigerant from the condenser, to selectively extract heat from or to add heat to the refrigerant, and to transfer the refrigera

A heating and cooling system includes an evaporator, a compressor, and a condenser. A heat exchanger, which may be an outdoor heat exchanger, is configured to receive the refrigerant from the condenser, to selectively extract heat from or to add heat to the refrigerant, and to transfer the refrigerant to the evaporator. First control valving, disposed between the condenser and the heat exchanger, is configured to regulate flow of the refrigerant from the condenser to the heat exchanger in a first mode of operation. Second control valving, disposed between the condenser and the heat exchanger, is configured to regulate flow of the refrigerant from the heat exchanger to the evaporator in a second mode of operation. The system may be operated in a variety of modes by appropriate control of the valving and other system components.

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1. A heating and cooling system comprising: an evaporator configured to vaporize a refrigerant to cool a first fluid stream;a compressor coupled to the evaporator and configured to compress the vaporized refrigerant;a condenser configured to condense the refrigerant compressed by the compressor to h

1. A heating and cooling system comprising: an evaporator configured to vaporize a refrigerant to cool a first fluid stream;a compressor coupled to the evaporator and configured to compress the vaporized refrigerant;a condenser configured to condense the refrigerant compressed by the compressor to heat a second fluid stream;a heat exchanger configured to receive the refrigerant from the condenser, to selectively extract heat from or to add heat to the refrigerant, and to transfer the refrigerant to the evaporator;first control valving between the condenser and the heat exchanger, configured to regulate flow of the refrigerant from the condenser to the heat exchanger in a first mode of operation of the system; andsecond control valving between the condenser and the heat exchanger, configured to regulate flow of the refrigerant from the heat exchanger to the evaporator in a second mode of operation of the system. 2. The system of claim 1, wherein the heat exchanger is configured to function either as an evaporator or a condenser, depending upon the mode of operation. 3. The system of claim 1, wherein the refrigerant flows in the same direction through the evaporator, the compressor, and the condenser in the first and second modes of operation. 4. The system of claim 1, wherein the first control valving is configured to function as an expansion valve during the first mode of operation and the second control valving is configured to function as an expansion valve during the second mode of operation. 5. The system of claim 1, wherein the first and second control valving each includes a two-way valve configured to be controllably opened to create a desired pressure drop in the refrigerant. 6. The system of claim 1, wherein the first control valving includes a bypass valve and an electronically controllable expansion valve in parallel with the bypass valve. 7. The system of claim 6, wherein the second control valving includes a bypass valve and an electronically controllable expansion valve in parallel with the bypass valve. 8. The system of claim 7, wherein the bypass valve of the second control valving is fluidly coupled to the heat exchanger on an opposite fluid flow side thereof from the electronically controllable expansion valve of the first control valving. 9. The system of claim 7, wherein the bypass valves and the electronically controllable expansion valve of the first and second control valving are controllable to change the direction of flow of the refrigerant through the heat exchanger in the first and second modes of operation. 10. The system of claim 1, wherein the first and second fluid streams comprise water and/or brine. 11. The system of claim 1, comprising control circuitry coupled to the first and second control valving and configured to regulate opening and closing of the first and second control valving to operate the system in the first and second modes. 12. The system of claim 1 wherein the first control mode comprises opening the first control valving to minimize refrigerant pressure drop while operating the second control valving to function as an expansion valve to provide a large pressure drop, and the second control mode comprises operating the first control valve to function as an expansion valve to provide a large pressure drop while the opening the second control valving to minimize pressure drop, whereby the heat exchanger functions as a condenser in the first operating mode and as an evaporator is the second operating mode. 13. The system of claim 1, wherein the first and second modes of operation are selected from a group consisting of a cooling only mode, a cooling mode with partial heat recovery, a heat pump mode with supplemental heat rejection, a heat pump mode with full heat recovery, a heat pump mode with supplemental heat sourced from the heat exchanger, a heat only mode, and a defrost mode. 14. The system of claim 13, wherein the system is configured to operate in more than two of the modes of the group. 15. The system of claim 1, wherein one of the modes is a cooling only mode in which the heat exchanger operates as a condenser with no second fluid stream flow through the condenser. 16. The system of claim 15, wherein in the cooling only mode, compressor capacity is controlled based on the temperature of the first fluid stream. 17. The system of claim 16, wherein the system comprises a fan for forcing air across the heat exchanger, and the fan is controlled to minimize energy use while maintaining an adequate pressure difference through the second control valving. 18. The system of claim 1, wherein one of the modes is a cooling mode with partial heat recovery in which the heat exchanger operates as a condenser with second fluid stream flow through the condenser. 19. The system of claim 1, wherein the system includes a fan for forcing air across the heat exchanger, and one of the modes is a water-to-water heat pump mode with supplemental heat rejection and operation of the fan is modulated to maintain a temperature of the second fluid stream from the condenser at a desired level. 20. The system of claim 19, wherein the mode includes full heat recovery wherein pressure of the refrigerant in the heat exchanger is controlled. 21. The system of claim 20, wherein the first control valving is controlled to maintain a temperature of the refrigerant in the heat exchanger near ambient air temperature. 22. The system of claim 21, wherein the second control valving is controlled to maintain generally constant superheat from the evaporator. 23. The system of claim 1, wherein one of the modes includes a heating only mode with no second fluid stream flow through the condenser. 24. The system of claim 23, wherein the system comprises a fan for forcing air flow across the heat exchanger, and the fan is operated at substantially full capacity. 25. The system of claim 24, wherein capacity of the compressor is controlled based on temperature of the second fluid stream. 26. The system of claim 25, wherein the mode includes flow of the first fluid stream through the evaporator. 27. The system of claim 1, wherein the system comprises a fan for forcing air flow across the heat exchanger, and the modes include a defrost mode in which the fan is turned off with a first fluid stream flow through the evaporator to melt any accumulation of ice and frost from the heat exchanger. 28. A heating and cooling system comprising: an evaporator configured to vaporize a refrigerant to cool a water or brine stream;a compressor coupled to the evaporator and configured to compress the vaporized refrigerant;a condenser configured to condense the refrigerant compressed by the compressor to heat water or brine;an outside heat exchanger configured to receive the refrigerant from the condenser, to selectively extract heat from or to add heat to the refrigerant, and to transfer the refrigerant to the evaporator;first control valving between the condenser and the heat exchanger, configured to regulate flow of the refrigerant from the condenser to the heat exchanger in a first mode of operation of the system;second control valving between the condenser and the heat exchanger, configured to regulate flow of the refrigerant from the heat exchanger to the evaporator in a second mode of operation of the system; andcontrol circuitry coupled to the first and second control valving and configured to regulate opening and closing of the first and second valving to operate the system in at least the first and second modes. 29. The system of claim 28, wherein the control circuitry is configured to regulate the first and second control valving to operate the system in at least two of a cooling only mode, a cooling mode with partial heat recovery, a heat pump mode with supplemental heat rejection, a heat pump mode with full heat recovery, a heat pump mode with supplemental heat sourced from the heat exchanger, a heat only mode, and a defrost mode. 30. The system of claim 29, wherein the refrigerant flows in the same direction through the evaporator, the compressor, and the condenser in the first and second modes of operation. 31. The system of claim 29, wherein the first control valving is configured to function as an expansion valve during the first mode of operation and the second control valving is configured to function as an expansion valve during the second mode of operation. 32. A heating and cooling system comprising: an evaporator configured to vaporize a refrigerant to cool a water or brine stream;a compressor coupled to the evaporator and configured to compress the vaporized refrigerant;a condenser configured to condense the refrigerant compressed by the compressor to heat water or brine;an outside heat exchanger configured to receive the refrigerant from the condenser, to selectively extract heat from or to add heat to the refrigerant, and to transfer the refrigerant to the evaporator;first control valving between the condenser and the heat exchanger, configured to regulate flow of the refrigerant from the condenser to the heat exchanger in a first mode of operation of the system;second control valving between the condenser and the heat exchanger, configured to regulate flow of the refrigerant from the heat exchanger to the evaporator in a second mode of operation of the system; andcontrol circuitry coupled to the first and second control valving and configured to regulate opening and closing of the first and second valving to operate the system in at least the first and second modes;wherein the refrigerant flows in the same direction through the evaporator, the compressor, and the condenser in the first and second modes of operation. 33. The system of claim 32, wherein the control circuitry is configured to regulate the first and second control valving to operate the system in at least two of a cooling only mode, a cooling mode with partial heat recovery, a heat pump mode with supplemental heat rejection, a heat pump mode with full heat recovery, a heat pump mode with supplemental heat sourced from the heat exchanger, a heat only mode, and a defrost mode.