Task-specific devices are available for the purpose, and there are plenty of devices targeting motor drive applications that could be made to work. There are probably dimmable LED drivers a person could use.
Much depends on the desired control scheme. If using motor-focused devices however, an appropriate filter should be provided to reduce ripple across the device to less than 10%, with less being better.
It should be understood that while they do offer certain conveniences of size, reversibility, and ease of control, peltier devices are terrible from an efficiency standpoint. Most who try to use them for cooling without doing the necessary math end up disappointed, in my experience.
See this post on understanding the device specifications, this one on thermal modeling of related systems, and this one on related application considerations.