We present a methodology to assess the design of ther-moelectric Energy Harvesting Systems (EHS) from exhaust gas pipes. In this application, thermoelectric generators (TEGs) are used to generate electricity using a temperature difference, based on the Seebeck Effect. The hot side temperature is given bythe waste heat in theexhaust gasof an oil-fired heating system and, at the cold TEG side, two different cooling options are considered, forced air and liquid cooling. The assessment is based on a comprehensive modular model, which includes, besides a detailed TEG model, the heat transfer conditions as well as an adaptive control strategy.The model, build up in the modeling and simulation environment Modelica®/Dymola®, serves to design such an EHS in an optimal way, meaning that a reasonable number of TEGs for the system and a suitable cooling method are chosen.Moreover, for each cooling method, an individual control strategy is defined to maximize the power output of the EHS.