ELI5 Two stage system

As I understand it a 2-stage system is running all the time, but only at half power sometimes? At other times it's at full power? Wouldn't this be a HUGE power waste?

I live in the DFW area and am getting quotes. I live in an all electric house and have a heat pump. Summers can be brutal and winters are very brief.

For a 1550 sq ft house should I go with 1 stage or 2 stage?

Thanks

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