In the 21st century dearth of energy and degradation of environment are among the major two problems. Thermoelectric devices provide a solution to such problems. Thermo electric devices are very small in size and therefore finds a wide range of application in areas like military, marine, space rovers, automobile industry, food and packaging industry etc. This paper begins with fundamental concepts of Thermoelectric followed by simplified modelling equations of a Thermo Electric Cooler (TEC). An easy to use interface of MATLAB/Simulink model has been developed. The creditability of this paper lies in newly defined mathematical equations that results in a figure of merit and power consumption level that are much better as compared to outputs obtained by using existing methods of TEC Modelling. Using this concept as a base, an improved version of TEC, in practical terms, can be made in the future. © 2017 IEEE.