Fine, let's expect that the new tech doubles the efficiency, to 7%. Still, to my mind, pretty wasteful, on par with a steam railway engine. A Peltier element is good in cases where you can afford a large heat removal device, but need precise temperature control and no moving parts. For a home fridge, I'll take the sound of the compressor and the temperature fluctuations of a 400% efficient compressor-based heat pump over a Peltier element any day.