Abstract: A thermoelectric water cooler or freezer including a thermoelectric assembly having P-type and N-type semiconductor material connected by junction bridges on their hot and cold junction sides. Heat exchange means are connected to the hot junctions and heat exchange means may be connected to the cold junction sides. The cold junction or the heat exchange means associated with the cold junctions, such as fins, extend upwardly and are adapted to be submerged in the water to be cooled or frozen. If an ice freezer is desired, the water is cooled until it freezes to a predetermined thickness on the fins, at which time the electrical current through the thermoelectric assembly is either interrupted or reversed for a short time allowing the fin temperature to rise and release the ice which then floats to the surface of the water where it is available for use.