A conceptual thermoelectric heat pump(cooling mode) of small capacity is designed. Its performance is investigated through parametric analysis. COP and cooling capacity decease as the ambient temperature increases with ${mu}$, J, T$sub$wi/, fixed. To design a system of fixed capacity comes to calculate ${mu}$ and J when T$sub$wi/, and T$sub$a/ are given. As v is fixed by semi-conductor manufacturers, optimum combination of n and I should be searched for ν. Optimum current could be calculated using ${mu}$-J curve and optimum value of ${mu}$. COR$sub$R/ increases as water flow rate increases and T$sub$a/ decreases. The effect of heat transfer coefficient at hot(heat releasing) side is more significant than that at cold(heat absorbing) side.