From the point of view of my lounge room, I put in 1000W of electricity and get 3000W of heat, but that is because it’s moving heat that already exists outside to inside. From the point of view of the planet, energy is conserved and that 1000W of electricity becomes 1000W of heat (and some heat moves from outside to inside).
The “300% efficiency” is only from a narrow point of view.
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