EXHIBIT
99.1





POWER
EFFICIENCY ANNOUNCES THIRD QUARTER 2010 RESULTS





Quarterly
and Year to Date Revenues More than Double Prior Year


November
15, 2010 – Las Vegas, NV – Power Efficiency Corporation (OTCBB: PEFF.OB), a
clean tech company focused on energy efficiency technologies for electric
motors, reported financial and operating results today for the three months
ended September 30, 2010.


Total
revenues for the nine months ended September 30, 2010 were $416,393, an increase
of $230,818 or 124% over the nine months ended September 30,
2009.  Revenues for the third quarter totaled $180,787, an increase of
$117,657 or 186% over the same quarter in the prior year.  The Company
recorded gross margin of $114,638, or 28% for the nine months ended September
30, 2010, and $80,054 or 44% for the quarter.  Net loss for the nine
months, including $212,619 in non-cash expenses related to stock based
compensation, $818,542 in non-cash interest expense related to the amortization
of a debt discount, and $828,827 in non-cash gain on the change in fair value of
certain outstanding warrants, was $2,508,925.  Net loss for the third
quarter, including $77,646 in non-cash expenses related to stock based
compensation and $4,745 in non-cash gain on the change in fair value of certain
outstanding warrants, was $794,832.





Steven
Strasser, Chairman and CEO of Power Efficiency, stated, “We continue to be quite
pleased with our steep sales trajectory, as revenues nearly tripled in the third
quarter over the prior year thanks in large part to our growing international
sales base.  Given our increasing traction in the vertical
transportation market, our negative cash flow run rate is improving within
expectations, more than offsetting increased operating expenses as we continue
to invest in the future of the business.”





Mr.
Strasser further commented, “Orders for our digital products continue to
increase as we execute against our current OEM agreements.  We have
recently received orders from, and begun deliveries to, two major airports, a
large urban mixed-use commercial complex and a large coal
mine.  Several key new retrofit projects are now on our
plate.  We are shipping a growing number of trial units to
high-profile potential commercial and industrial customers and distributors, and
look forward to converting these to firm orders.”





During
the third quarter, the Company completed a $5.22 million financing, including
the conversion of debt into equity, providing working capital to support its
growth plan.  In August, Power Efficiency signed an agreement with
industry leader Schindler Elevator Corporationto
supply the Company’s Motor Efficiency Controller (MEC) for use on escalators
built for the North American market.  Schindler will sell MECs under
the private label “Energy Efficiency Manager”.  In September, the
Company announced the election of Raphael “Robbie” Diamond to its board of
directors.  Mr. Diamond is the founder, President and CEO of Securing
America's Future Energy (SAFE), and President and CEO of the Electrification
Coalition.









About
Power Efficiency Corporation




Power
Efficiency Corporation is a clean tech company focused on efficiency
technologies for electric motors. Power Efficiency is incorporated in Delaware
and is headquartered in Las Vegas, Nevada. The Company has developed a patented
and patent-pending technology platform, called E-Save Technology, which has been
demonstrated in independent testing to improve the efficiency of electric motors
by up to 35% in appropriate applications. Electric motors consume over 25% of
the electricity in the U.S. and many operate inefficiently. E-Save Technology
can be licensed to motors, controls and equipment manufacturers. Power
Efficiency’s products, based on E-Save Technology can be licensed to motors,
controls and equipment manufacturers. Power Efficiency’s products, based on
E-Save Technology, include an industrial Motor Efficiency Controller for three
phase applications, such as escalators, crushers, granulators, mixers, saws and
MG elevators, as well as a new Appliance Motor Efficiency Controller for small
single phase applications such as residential and light commercial appliances.
For more information, go to www.powerefficiency.com.





Safe
Harbor




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:


Power
Efficiency Corporation


BJ
Lackland, CFO


Tel:
702-697-0377