OK, let's compare a naturally aspirated 240 hp inline 6 (previous generation) against a turbocharged 240 hp N20. I don't know which model produced exactly that hp, but there were a number of engine models close to it.

At a high level, the N20 has a higher thermal efficiency. It converts more of the fuel to useful hp. That is why it has better fuel efficiency. That comes from having less friction, and heat recovery from the exhaust, as well as other design features. All the energy that doesn't make useful power is dispersed as heat. So, the turbocharger engine produces less heat at the same hp than the NA one. We can argue that the heat is more localized, but there is less of it produced.

If you compare a naturally aspirated engine to the same engine with a turbocharger, the turbocharged engine produces more heat. But it is also producing more power. If you have two engines of the same power, there is less heat from the turbocharged one.

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