The fundamental mechanisms of electroluminescence (EL) refrigeration in heterostructure light emitting diodes, is examined via carrier energy loss (and gain) during transport, relaxation, and recombination, where the contribution of electrons and holes are treated separately. This analysis shows that the EL refrigeration process is a combination of thermoelectric cooling that mainly occurs near the metal/semiconductor contacts and radiative recombination which mainly occurs in the active region. In semiconductors such as GaAs, electrons and holes make different contributions to the refrigeration processes as a result of their different densities of states.