Thanks to all those who answered the question! Great info.
My other option in the summer is to circulate the cold air from the basement into my ductwork without running the AC unit. Once it can no longer hold 75 degrees in the house I can turn on the AC.
In the winter, when they built the house 40 years ago they initially put in electric baseboard heat in each room with its own thermostat. I could also circulate the basement air and heat it to 70 degrees using the baseboard heat but that may be too expensive. Probably use the HP then.
Thanks again for the great feedback.
PS I am a homeowner not a DYI in HVAC sorry, no photos for your hall of shame.