Groundwater heat pumps have energy saving potential where the groundwater resources are sufficient. System Coefficients of Performance (COPs) are measurements of performance of groundwater heat pump systems. In this study, the head and power of submersible pumps, heat pump units, piping, and heat exchangers are expressed as polynomial equations, and these equations are solved numerically to determine the system performance. Regression analysis is used to find the coefficients of the polynomial equations from a catalog of performance data. The cooling and heating capacities of water-to-water heat pumps are determined using Energy Plus. Results show that system performance drops as the water level drops, and the lowest flow rates generally achieve the highest system performance. The system COPs are used to compare the system performance of various system configurations. The groundwater pumping level and temperature provide the greatest effects on the system performance of groundwater heat pumps along with the submersible pumps and heat exchangers. The effects of groundwater pumping levels, groundwater temperatures, and the heat transfer coefficient in heat exchanger on the system performance are given and compared. This analysis needs to be included in the design process of groundwater heat pump systems, possibly with analysis tools that include a wide range of performance data.