TECs are terribly inefficient, but in quantity I don't see why they wouldn't work, any area where your temperature delta exceeds roughly 90 degrees will supply enough voltage under load to make a TEC worth it's salt in a car. But from testing your talking the best efficiencies of MAYBE 3-5 percent...most of it is lost to internal resistance...they however work better at colder temperatures, this is something that might be beneficial in the liquid cooling system...just food for thought.
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