Baruch,
Some of us are working on a peltier-based unit that's similar to what you've shown, not for reef or planted setups but to maintain cool-water killies.
One of our forumers managed to bring the water down to 10ºC and can be maintained stable temperature at 20ºC via a thermo-controller.
I'm not sure whether he's going to scrap the prototype but I sure would like to get my hands on it. BTW, the unit is only suitable for smallish tanks, perhaps up to 10gal.
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