The water fountain that I had apart, the type that hangs on a wall, had a compressor, had an insulated cylinder reservoir that filled with water and was chilled so I'd say no. It wouldn't work for a wort chiller either because it doesn't remove enough heat fast enough. Best I could tell from the construction, it was the equivalent of chilling a 32oz cup of water. You should be able to find a mini-fridge on craigslist easy for $75, most go for $50 esp. here in a college town.