A heat pump apparatus includes a refrigerant circuit in which a compressor, a condenser, expansion means, and an evaporator are serially connected. Condensation temperature detection means that detects a saturation temperature of the condenser, and evaporation temperature detection means that detects the saturation temperature of the evaporator are provided. Operation efficiency is estimated by a value obtained by dividing heating ability estimated from a detection value of the condensation temperature detection means by a difference between a detection value of condensation temperature detection means and that of evaporation temperature detection means or dissipation power estimated by the difference.