Efficiency ratings compare equipment under defined test conditions
HVAC efficiency ratings are useful for comparing equipment, but they are not a prediction of a specific home's utility bill. Actual energy use depends on weather, thermostat settings, building load, installation quality, airflow, equipment sizing and operating hours.
Different ratings apply to different types of equipment. Cooling equipment commonly uses SEER2 and EER2, heat pumps also use HSPF2, and furnaces or boilers commonly use AFUE.
A higher efficiency rating can reduce energy consumption under comparable conditions, but efficiency is only one factor in selecting equipment.