Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
SKIPTUNIS RAYMOND J
   2. Issuer Name and Ticker or Trading Symbol
POWER EFFICIENCY CORP [PEFF] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
4459 VIA BIANCA AVE		 3. Date of Earliest Transaction (Month/Day/Year)
11/27/2007
(Street)

LAS VEGAS, NV 89141		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 11/27/2007   X   60,000 A $ 20,000 82,539 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
STOCK OPTIONS $ 0.65               (1) 10/10/2014 COMMON STOCK 25,000   25,000 D  
STOCK WARRANTS $ 0.65             10/05/2004 10/04/2009 COMMON STOCK 36,000   36,000 D  
STOCK OPTIONS $ 0.2             05/23/2006 05/22/2015 COMMON STOCK 100,000   100,000 D  
STOCK WARRANTS $ 0.65             11/18/2004 11/17/2009 COMMON STOCK 50,000   50,000 D  
STOCK OPTIONS $ 0.35               (2) 05/12/2016 COMMON STOCK 112,500   112,500 D  
STOCK OPTIONS $ 0.3               (3) 01/17/2017 COMMON STOCK 150,000   150,000 D  
Stock Options $ 0.2 11/27/2007   X     100,000 05/23/2006 05/22/2015 Common Stock 100,000 $ 0.2 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
SKIPTUNIS RAYMOND J
4459 VIA BIANCA AVE
LAS VEGAS, NV 89141		   X      

Signatures

 Raymond Skiptunis   12/10/2007
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) 12,500 ARE EXERCISABLE IMMEDIATELY, 12,500 ARE EXERCISEABLE ON 10-11-2005.
(2) 37,500 BECOME EXERCISABLE ON 6-30-2006, 37,500 MORE BECOME EXERCISEABLE ON 9-30-2006, AND 37,500 BECOME EXERCISEABLE ON 12-31/2006
(3) 37,500 become exercisable on 3-31-2007, 37,500 become exercisable on 6-30-2007, 37,500 become exercisable on 9-30-2007, and 37,500 become exercisable on 12-31-2007.

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