Between 1972 and 2014, the size of an average refrigerator grew by about one-fourth, adding 5 cubic feet.
From 1972 to 2010, the real, inflation adjusted, price of a refrigerator was cut in half.
From 1972 to 2010, the average annual energy use was reduced by three-fourths (75%), from 2,000 to just 500 KwH per year.
An Energy Star model in 2020 was another 30% more energy efficient than in 2010.
The US consumes more than 8 million new refrigerator units each year.
Refrigerators have become more reliable through time, now averaging 12 years old.
https://www.energy.gov/energysaver/shopping-appliances
The share of homes with more than one refrigerator doubled between 1997 and 2015, reaching 30%.
The US market is roughly $5 billion dollars, growing slowly.
The US Dept of Labor does not publish a consumer price index specifically for refrigerators, but the category it belongs in showed essentially zero nominal inflation between 1994 and 2018. The real price decline shown in the first chart probably continued through 2018.
Refrigerators and appliance prices spiked by more than 10% in 2021 as consumer demand for durable goods grew 20% during the pandemic, supported by government transfer payments.
Refrigerators now account for just 7% of home electricity consumption, down from 14% in 2001.
Opinion writers differ on who gets credit for the improved price/performance results for refrigerators, but it seems clear that both energy standards and inventive firms share credit.
https://fee.org/articles/thanks-capitalism-refrigerators-are-awesome/
Good News 