This paper reports the generation efficiency and the thermal performance of a thermoelectric generator (TEG) harvesting energy from the waste heat of high power electronic components. A thermoelectric (TE) model containing thermal boundary resistances is used to predict generation efficiency and junction temperature of a high power electronic component. The predicted results are verified with measured values, and the discrepancy between prediction and measurement is seen to be moderate. The verified TE model predicts generation efficiencies, junction temperatures of the component, and temperature differences across a TEG at various source heat flows associated with various electrical load resistances. This study explores effects of the load resistance on the generation efficiency, the temperature difference across a TEG, and the junction temperature.