For technical applications thermoelectric materials with a high figure of merit are desirable, and strongly correlated electron systems are very promising in this respect. Since effects of bandstructure and electronic correlations play an important role for getting large figure of merits, the combination of local density approximation and dynamical mean field theory is an ideal tool for the computational materials design of new thermoelectrics as well as to help us understand the mechanisms leading to large figures of merits in certain materials. This conference proceedings provides for a brief introduction to the method and reviews recent results for LiRh₂O₄.