Thermal efficiency
From HvWiki
The theoretical maximum (assuming a perfect and lossless conversion) efficiency of a heat engine can be calculated as:
Temperatures are stated in Kelvin (Conversion). A heat engine is any device that extracts useful work from heat, such as a steam engine, internal combustion engine or a peltier element.
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Example
A peltier element used as an electrical generator with a hot side of 148°C and a cold side of 27°C has a theoretical maximum efficiency of:
All losses must be subtracted from this value to find the true efficiency that will be significantly lower.

