TEC advantages

1. No moving parts make them very reliable; approximately 105 hrs of operation at 100 degrees Celsius, longer for lower temps.
   
2. Ideal when precise temperature control is required
3. Ability to lower temperature below ambient.
4. Heat transport controlled by current input.
5. Able to operate in any orientation.
6. Compact size make them useful for applications where size or weight is a constraint.
7. Ability to alternate between heating and cooling.
8. Excellent cooling alternative to vapor compression coolers for systems that are sensitive to mechanical vibration

TEC disadvantages 

1. Able to dissipate limited amount of heat flux.
2. Lower coefficient of performance than vapor-compression systems.
3. Relegated to low heat flux applications.
4. More total heat to remove than without a TEC.