A heat pump warms a home more efficiently than using the same amount of electricity for resistive heating. It can do this because it's not generating the heat from scratch; it's moving heat from outside to inside.
A local company has developed a heat pump with a thermal energy storage system. Not sure how they do this, but I imagine there is some sort of insulated cinder blocks on a secondary loop that shuttles heat/cold to where it needs to go.
Unfortunately by that metric other electrical heaters tend to 0% efficiency because they are not making use of the virtually unlimited energy outside the buildings.
The 400% metric let's you compare with other heaters, the 100% is kind of useless.
(1) https://stash.energy/en/product/