8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 13, 2007 (August 13, 2007)

POWER EFFICIENCY CORPORATION

(Exact name of registrant as specified in its charter)

Delaware (State or other jurisdiction of incorporation)	0-31805 Commission File Number	22-3337365 (IRS Employer Identification No.)
3960 Howard Hughes Pkwy, Suite 460, Las Vegas, NV (Address of principal executive offices)		89169 (Zip Code)

Registrant’s telephone number, including area code: (702) 697-0377

N/A
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR 240.13e-4(c))

TABLE OF CONTENTS

	Item 2.02 Results of Operations and Financial Conditions.
	Item 9.01. Exhibits
SIGNATURE
EXHIBIT 99.1

INFORMATION TO BE INCLUDED IN THE REPORT

Item 2.02 Results of Operations and Financial Conditions.

On August 13, 2007, Power Efficiency Corporation issued a press release (the “Press Release”) entitled “Power Efficiency Corporation Reports Second Quarter Financial Results Revenues Exceed 2006 Sales, Losses Narrow by Half.” The full text of the Press Release, which is filed herewith as Exhibit 99.1, is incorporated herein by reference.

Item 9.01. Exhibits

	Description of Document
99.1	Press Release of Power Efficiency Corporation, dated August 13, 2007

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	POWER EFFICIENCY CORPORATION (Registrant)
Date: August 13 , 2007	By:	/s/ Steven Strasser
		Steven Strasser
		CEO

EX-99.1

EXHIBIT 99.1

Power Efficiency Corporation Reports Second Quarter Financial Results
Revenues Exceed 2006 Sales, Losses Narrows by Half

August 13, 2007 — Las Vegas, NV — Power Efficiency Corporation (OTCBB: PEFF), a green energy company focused on efficiency technologies for electric motors, today announced results for the second quarter ended June 30, 2007.

Revenue for the quarter ended June 30, 2007 was $230,000, up sharply compared to $44,000 for the comparable period last year. Net loss for the quarter was $837,000 or $0.02 per share as compared to a net loss of $1,700,000, or $0.07 per share for the second quarter of the prior year. For the six months ended June 30, 2007, revenue was $267,000 as compared to $69,000 for the comparable period last year. Net loss for the first half of fiscal 2007 was $1,700,000 or $0.05 per share as compared to net loss of $2,800,000, or $0.12 per share in the same period last year.

Steven Strasser, Chairman and CEO stated, “We are pleased that revenue for the second quarter alone exceeded revenue for all of 2006. Our main goals for 2007 include growing sales to end users and through our service provider partners, and gaining commitments from Original Equipment Manufacturers to adopt our ESAVE Technology™. We previously announced that numerous OEMs of motors and motor-driven equipment are considering adopting ESAVE Technology™ as a standard component to improve the efficiency of their products. Since that time, the list of OEMs testing and considering adopting our technology has grown. Our focus is to enter agreements with OEMs that will lead to large and repeatable revenue streams.”

Strasser continued: “Other significant accomplishments for the second quarter included additional patent filings on new inventions, being approved for an energy efficiency rebate from Sierra Pacific Resources and Nevada Power Company, continuing with our energy efficiency program with Southern California Edison, receiving CSA and UL certification, and launching ‘ESAVE Technology’ as the brand for our technology. We plan to incorporate the ESAVE Technology brand in OEM agreements as the mark for our technology, so third party products will have ‘ESAVE Inside’. Furthermore, we are continuing to add expertise in engineering and sales to create new products and grow revenue.”

About Power Efficiency Corporation
Power Efficiency Corporation is a green energy company headquartered in Las Vegas, Nevada. The Company develops efficiency technologies for electric motors, called ESAVE Technology™, which improve the efficiency of escalators, elevators, grinders, granulators, mixers, saw mills and other motor-driven equipment. The Company is also developing products to reduce the amount of electricity used by appliances and light commercial equipment, such as refrigerators, pumps, and residential air conditioning. For more information visit www.powerefficiency.com.

As a cautionary note to investors, certain matters discussed in this press release may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company’s products in the market; the Company’s success in technology and product development; the Company’s ability to execute its business model and strategic plans; and all the risks and related information described from time to time in the Company’s SEC filings, including the financial statements and related information contained in the Company’s SEC Filing. Power Efficiency assumes no obligation to update the information in this release.

Contact:
B.J. Lackland, CFO, 702-697-0377
Andrew Barwicki, Investor Relations, 516-662-9461

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