SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* SUMMIT ENERGY VENTURES LLC (Last) (First) (Middle) 3900 PARADISE ROAD, SUITE 283 (Street) LAS VEGAS NV 89109 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol POWER EFFICIENCY CORP [ PEFF ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 06/03/2004
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

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	06/03/2004		J		1,645,404	D	(1)	1,488,698	D

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 Securities Underlying Derivative Security (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: 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
Series A-1 Convertible Preferred Stock	(4)	06/03/2004		J			1,747,587	(2)	(3)	Common Stock	1,453,646	(4)	1,581,150	D

1. Name and Address of Reporting Person* SUMMIT ENERGY VENTURES LLC (Last) (First) (Middle) 3900 PARADISE ROAD, SUITE 283 (Street) LAS VEGAS NV 89109 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* NORTHWEST POWER MANAGEMENT INC (Last) (First) (Middle) 3900 PARADISE ROAD, SUITE 283 (Street) LAS VEGAS NV 89109 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below) Manager of Summit Energy

1. Name and Address of Reporting Person* STRASSER STEVEN Z (Last) (First) (Middle) 3900 PARADISE ROAD, SUITE 283 (Street) LAS VEGAS NV 89109 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below) Director President of Northwest Power

Explanation of Responses:

1. Cashless distribution to a member of Summit Energy Ventures LLC

2. Immediately

3. None

4. $1.065538 / Share

Remarks:

In explanation of item 3 on table I and item 4 on table II, the decrease in beneficial ownership is a result of distributing assets out of Summit Energy Ventures, LLC to one of its members in connection with the retirement of such member from Summit Energy Ventures, LLC. These shares are owned directly by Summit Energy Ventures, LLC ("Summit Energy"). The securities laws deem Northwest Power Management, Inc., a Washington corporation ("Northwest Power"), and Steven Strasser ("Mr. Strasser") to be indirect beneficial owners of the shares listed on Table 1 and Table II. Summit Energy is an investment company which invests in securities and other obligations of entities. Northwest Power is a manager that provides management services exclusively to Summit Energy and Mr. Strasser is the president of Northwest Power. Neither Northwest Power nor Mr. Strasser own any shares of Power Efficiency Corporation ("Power Efficiency") and both disclaim beneficial ownership of all securities owned by Summit Energy. The address of Northwest Power and Mr. Strasser is: 3900 Paradise Road, Suite 283, Las Vegas, NV 89109.

	Summit Energy Ventures LLC By Steven Strasser President, Northwest Power Management, Inc., the Investment Manager of Summit Energy Ventures LLC	08/04/2004
	Northwest Power Management, Inc. By Steven Strasser, President	08/04/2004
	Steven Strasser	08/04/2004
	** Signature of Reporting Person	Date
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