A system includes a compressor for increasing the pressure of a refrigerant; a condenser heat exchanger arranged downstream of the compressor for receiving a high pressure refrigerant output from the compressor and for transferring heat from the high pressure refrigerant to a source of water; an expansion device for reducing the pressure of a refrigerant; and an evaporator heat exchanger for extracting heat from ambient air. The evaporator heat exchanger includes a first tube bank having a first inlet arranged to receive a high pressure refrigerant output from the condenser and a first outlet fluidly coupled to the expansion device; and a second tube bank having a second inlet arranged to receive a low pressure refrigerant output from the expansion device, and a second outlet fluidly coupled to an inlet of the compressor.