Abstract: Currently, a major nanotechnological challenge is to design thermoelectric devices that have a high figure of merit. To that end, we propose to use bilayer excitons in two-dimensional nanostructures. Bilayer-exciton systems are shown to have an improved thermopower and an enhanced electric counterflow and thermal conductivity, with respect to regular semiconductor-based thermoelectrics. We suggest an experimental realization of a bilayer-exciton thermocouple. Based on current experimental parameters, a bilayer-exciton heterostructure of p- and n-doped Bi2Te3 can enhance the figure of merit an order of magnitude compared to bulk Bi2Te3. Another material suggestion is to make a bilayer out of electron-doped SrTiO3 and hole-doped Ca3Co4O9.