Very interesting!!!!!Heat transfer using water is the most efficient way, then air to air then static. HVAC 101. If you could recapture the water then cool it down and re-use it, it would work fine. Look at using tower systems on water source heat pumps. The problem is that the energy you use to cool the water down through a series of pumps and fans would use more energy than just buying a high efficient a/c unit. It is only economically feasible on large projects, not for 1 unit on a house. You also need to treat the water being sprayed on your condenser coils which adds an entire other expense. There is a guy locally that makes his own condensing units, using water as the medium. They are quite pricey from what I understand, require regular maintenance as well as water treatment. They basically use a pool pump to spray the water over the coils. Which uses whatever amount of electricity. They are very pretty and make people feel good about themselves.