Final answer:
The reversing valve is responsible for changing the direction of the flow of refrigerant in a heat pump or air conditioning system.
Step-by-step explanation:
The component responsible for changing the direction of the flow of refrigerant in a heat pump or air conditioning system is the d) Reversing Valve. The expansion valve controls the flow of refrigerant into the evaporator and reduces its pressure, but does not change the flow direction.
The condenser is where the refrigerant releases heat and changes from a gas to a liquid, and the evaporator is where the refrigerant absorbs heat and changes from a liquid to a gas. However, when it comes to redirecting the flow of refrigerant to switch between heating and cooling modes, it is the reversing valve that performs this function.