Thermoelectric (TE) based cooling and heating systems offer significant advantages over conventional vapor compression systems including no need for refrigeration or major moving parts, high controllability, and scalability. The purpose of the present study is to provide an energy and economic assessment of the performance of a TE-based radiant cooling and heating system for building applications. It is considered that TE modules are integrated in the ceiling to lower/increase the ceiling temperature through the Peltier effect during the hot/cold season to provide thermal comfort for the occupants via radiation and convection. The study explores the possibility of using rooftop PV panels to produce electricity required for the operation of TE modules. An actual office building located in Melbourne, FL, USA is considered for a test study, and the hourly cooling and heating loads of the building are calculated through building energy simulation in eQuest. Various operating conditions, including different input voltages and temperature gradient across TE modules, are considered, and the system is sized to properly address the year-around cooling/heating demand. It is shown that a nominal cooling capacity of 112.8 W and a nominal PV capacity of 31.35 W per unit area of the building is required to achieve the target goal when the system operates at the optimal condition. An economic analysis is also performed, and estimated cost, as well as potential savings, are calculated for each operating condition. The optimal operating condition with minimum cost is selected accordingly. The results demonstrated that the initial cost of the proposed system is considerably higher than conventional heating/cooling systems. However, the system offers other benefits that can potentially make it an attractive option for building cooling/heating applications.