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Thermal fluids can transport heat to the large surface of a thermoelectric (TE) panel from hot and/or cold sources. The TE power thus obtainable was precisely evaluated using numerical calculations based on fluid dynamics and heat transfer. The commercial software FLUENT was coupled with a TE model for this purpose. The fluid velocity distribution and the temperature profiles in the fluids and TE modules were calculated in two-dimensional space. The electromotive force was then evaluated for counter-flow and split-flow models to show the effect of a stagnation point. Friction along the fluid surface along a long, flat path was larger than that along a short path split into two parts. The power required to circulate the fluids along the flow path is not negligible and should be considered in TE generation system design.