Re: Coincidently....
Camfridge use magnetocaloric materials and the magnetocaloric effect for cooling.
The fundamental technology has been about a very long time (first observed in 1881), General Electric (with help from the Oak Ridge National Laboratory) planned to bring it to the consumer market in 2020 (looks like they missed that date and then some). Here is a video recorded in Oak Ridge National Laboratory https://www.youtube.com/watch?v=z9ThxbAyIB8 that claims that it might be 25% more efficient then compressor based colling.
Here is a far more interesting GE video ===>>> https://www.youtube.com/watch?v=UpogxBxbPPo <<<===
Most of the high end magnetocaloric materials used are based around the rare earth element gadolinium, and then you have a bunch of other rare earth elements in the high power magnets. In short it will be expensive, and if the consumer market grows the cost will not go down, in fact it drive up the price of other existing items that use rare earth magnets (e.g. electric cars, wind turbines, ...).