You trying to md5 object instead of string. Also there is nothing to prepare.
Try this.
function getList(){
global $meminstance;
$sql = "SELECT id FROM " . TBL_LIST . " ORDER BY name";
$query_key = "KEY" . md5($sql);
$list = $meminstance->get($query_key);
if (!$list){
$query = $this->connection->query($sql);
$list = $query->fetch(PDO::FETCH_ASSOC);
$meminstance->set($query_key, $list, 0, 600);
}
return $list;
}