We used to have a water dispenser with a cooler for our source of cold water. But when it broke down, we have resorted to using the ice from the freezer to cool a glass of water. For several months now, ice is our source of cold drinks. Now the question is this – which is more economical, using ice from the freezer or buying a new water dispenser which costs $100 here?
Water dispenser with hot and cold system is very convenient, however, in my experience and observation using ice from freezer for cold drinks and kettle for hot drinks is cheaper. You will have your fridge always running, so when you make ice on your fridge, it does not cost you more money on electricity, however, if you are using water dispenser, you will pay electricity bill.
I too am of the opinion of freezer over water dispenser. This is because I usually chill my water bottles in fridge instead of using ice cubes (unless needed specifically) and it has worked just fine. Infact during winters, I don't even chill water. It gets chilled automatically under room temperature.
If an equipment at home can serve more than one purpose, I will not go for another one. More than the cost factor it is to save the space of an already overloaded home. Freeze is an efficient appliance to serve chilled water. It is economical as well for my occasional need of ice.
When I purchased my refrigerator, I specifically wanted an ice maker, because in the past, I'd always had the ice trays and made the cubes by hand. So, I paid more for a fridge with an ice maker, and installed it myself. It turns out that I rarely use ice cubes these days. I used to entertain a lot more, and people would always ask for ice, but I typically don't use it myself, so now the ice just accumulates until I toss it. I occasionally will use some for an ice pack if I injure myself, but I don't think I'll bother buying a fridge with an ice maker when it's time to replace this one. I would prefer to have the space for storing food, rather than have an unused ice maker taking up needed space.
I remember one of friends from way back had one of the refrigerator ice machines that did the crushed ice, and that stuff was delicious. I don't think I have had that since, and I just rely on cubes from the freezer.