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It is estimated that 72% of the worldwide primary energy consumption is lost as waste heat. Thermoelectric Generators (TEGs) are a possible solution to convert a part of this energy into electricity and heat for space heating. However, for their deployment a proven long-term operation is required. Therefore, this research investigates the long-term stability of TEGs on system level in air and argon atmosphere under thermal cycling up to 543 K. The layout of the examined test objects resembles a TEG in stack design. The results show that the maximal output power of the test object in air reaches a plateau at 57% of the initial power after 50 cycles caused by an increased electrical resistance of the system. Whereas the test object in argon atmosphere shows no significant degradation of electrical power or resistance. The findings represent a step towards the understanding of the long-term stability of TEGs and can be used as a guideline for design decisions. [ABSTRACT FROM AUTHOR]