TEC, or peltier, just like CurtisOliver said, it can be used to pump heat from one side to another.
And i might want to add something:
if one side of TEC/peltier fixed/glued (using thermal glue of course) then the other side can be used as a temperature sensor, thus it can be used as laser power meter.
long story short, if TEC supplied by voltage, it will pum heat from one side to another, producing one hot surface and one cold surface, on the other hand, if you exposed one side of the TEC to a heat source e.g laser, it will produce a small amount of voltage (Seebeck effect).