Yes; though in other contexts, you might distinguish between the two forms as follows:
1. What if there were no light?
2. What if there was no light?
In #1, we pose a general question, as in your "heaven" example: "What if there were no light? How would plants grow? How would we know there were other galaxies? How could Australia ever win back the Ashes?"
In #2, we discuss a possibility in the past: "We are assuming that the accused knew that the victim was at home because he saw the light in the window. But what if there was no light? What if the victim had already gone to bed?"
(Also, in British English, "What if there was..." is commonly used instead of "What if there were..." in sense #1.)
MrP