Pumped by sub-bandgap electric work and Peltier heat, thermoelectric-pumped light-emitting diodes (TEP-LEDs) can achieve a power-conversion-efficiency greater than 100%. However, cost-effective and high-efficiency TEP-LEDs are not readily accessible for the epitaxially grown III-V LEDs due to the high chip cost and efficiency droop at sub-bandgap voltages. Photoluminescence with power-conversion-efficiency above unity through phonon-assisted excitation has been realized in high-quality colloidal quantum dots (QDs), owing to their defect-free nature. Here, we show that solution-processed QD-LEDs (QLEDs) can achieve high power-conversion-efficiency and high brightness, circumventing the deficiency faced by conventional LEDs. The optimal red-emitting device exhibits internal power-conversion-efficiency of 93.5% at 100 cd m-2. At this brightness, the driving voltage (V) of 1.89 V is much lower than the photon voltage (Vp =hv/q = 1.96 V). Our results highlight that TEP-LEDs can be constructed by integrating large-scale solution processing techniques and chemical-grade materials, towards cost-effective display and lighting applications.