H-bridge with peltier cell

Relays are only switches. You can replace a relay by a manual switch and get the same results. So, no, you cannot increase or decrease or any other power related thing with a switch.
You can do all kind of switching under computer control using a relay, where you, personally, would have to manipulate a switch.
A switch or relay may do something to another circuit, which could then change power, but in itself cannot do such a thing.
Paul