To improve heating capacity by providing a first parallel circuit branched from between the switch valve of a refrigeratirtg cycle circuit and an indoor heat-exchanger and connected between first and second expansion valves, and a second parallel circuit branched from the third port of a first three-way valve and connected to the third port of a second three-way valve.

A four-way valve 2, an outdoor heat-exchanger 3, a pressure reducing device 6 to connect together in series first and second electronic expansion valves 4 and 5, and an indoor heat-exchanger 7 communicate with the delivery part of a compressor 1 to form a refrigerating cycle S. A first parallel flow passage Ha is formed in a refrigerant pipe P branched from between the four-way valve 2 and the indoor heat-exchanger 7. First and second three- way valves 8 and 10 are connected to the refrigerant pipe P by which a first parallel flow passage Ha composed by first and second ports (a) and (b) is composed. A second parallel flow passages Hb is composed by a refrigerant pipe P connected between third ports (c) of the three-way valves 8 and 10. This constitution feeds hot water of a set temperature without any trouble even when an outside air temperature is low.