AIR CONDITIONER AND METHOD OF OPERATING SAME

An air conditioner according to the present invention includes: a heat pump having a water-refrigerant heat exchanger in which a refrigerant exchanges heat with a heat source water and is condensed or evaporated; a heat source water passage connected to the water-refrigerant heat exchanger; a pump installed in the heat source water passage; a balancing valve installed in the heat source water passage and having an adjustable degree of opening; and a balancing valve controller controlling the degree of opening of the balancing valve. The balancing valve controller includes a heat source water minimum flow rate regulating part that regulates a heat source minimum flow rate, and the degree of opening of the balancing valve is adjusted according to the operation of the heat source water minimum flow rate regulating part so that a user, installer, or the like may selectively adjust consumed power and efficiency as desired.