The Boston College and Massachusetts Institute of Technology researchers said they built tiny alloy nanostructures to serve as micro-coolers and power generators. The researchers said that in addition to being inexpensive, the new technology will likely result in practical, near-term enhancements to make products consume less energy or capture energy that would otherwise be wasted.

The scientists said their findings represent a milestone in the quest to harness the thermoelectric effect. That refers to certain materials that can convert heat into electricity and vice versa. The problem has been that most materials that conduct electricity also conduct heat, so their temperature equalizes quickly.

In order to improve efficiency, scientists have sought materials that will conduct electricity, but not similarly conduct heat.

Using nanotechnology, the researchers produced a big increase in the thermoelectric efficiency of bismuth antimony telluride - a commonly used semiconductor alloy. Specifically, the team realized a 40 percent increase in the alloy's relative performance.

The research is presented online in the journal Science.