That is meant to go in to servers as energy costs are relevant in that market. But never the less, you should be able to use this as a fine HTPC CPU. Note that unlike the i3, this CPU has Turbo.
At that TDP, you could get a good heatsink and a VERY slow/quiet fan like a Gentle Typhoon to cool it. You may also be able to passively cool it using a big heatsink,etc. I know in most of these 1U servers these CPUs are passively cooled.
Note: Although the CPU it self doesn't have a fan, the rack itself has fans.