Economic Aspects of the Magnetocaloric Energy Conversion - Magnetocaloric Energy Conversion: From Theory to Applications - page 363

Chapter 9
Economic Aspects of the Magnetocaloric
Energy Conversion

In the past decade, several studies have been performed to evaluate the economic
potential and the cost of magnetic refrigerators and magnetic heat pumps. These
studies were mostly based on theoretical predictions, by taking into account esti-
mations of the costs for a particular part of the magnetic refrigerator, as well as by
taking into account the operating costs of a particular device. Therefore, they can
serve for a rough estimation and as a guideline for the design characteristics that can
affect different costs. Namely, the cost estimation of an emerging technology is
rather dif

cult, especially if it is compared with some mature refrigeration tech-
nology. Therefore, one has to take into account the potential mass production, as
well as the optimization of the technology, which, together with different scenarios,
can predict future developments.
In this chapter we address the cost issues that relate to magnetic eld sources and

magnetocaloric materials. We further divide magnetic eld sources into permanent-

magnet structures, electric resistive magnets and superconducting magnets. Note
that the costs of a magnetic eld source, and partially also the magnetocaloric

material, at the moment represent the major cost contribution and also the major
economic obstacle of magnetic refrigeration technology.
In addition, this chapter provides a review of the different economic studies
covering magnetic refrigeration, including some ecological aspects that are related
to the carbon footprint and lifecycle analyses (LCA).

9.1 A Brief Discussion About the Market and the Costs
of Nd Fe B Permanent Magnets

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Since most of the magnetic eld sources in magnetic refrigeration are based on

Nd B magnets, it is important to address some serious issues, which may

drastically in

Fe

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uence not only a particular device, but the whole domain of magnetic
refrigeration, or more generally, the magnetocaloric energy conversion.
First of all, one has to be aware that most of the rare earth neodymium (Nd)
comes from China, and according to the estimation of Benecki [ 1 ], at least 80 % of

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