Sensible heat loads refer to the heat gain or loss that affects the dry-bulb temperature of the air, while latent heat loads refer to the heat gain or loss that affects the humidity of the air. Sensible heat loads are typically associated with heating and cooling, while latent heat loads are associated with dehumidification and humidification. Accurate calculation of both sensible and latent heat loads is essential to ensure proper sizing of HVAC equipment and to maintain comfortable indoor conditions.