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 * Kessner Steven   2. Issuer Name and Ticker or Trading Symbol ENVIRONMENTAL POWER CORP [( EPG )] 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) 16 PADDINGTON ROAD 3. Date of Earliest Transaction (Month/Day/Year) 11/12/2008 (Street) SCARSDALE, NY 10583 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 11/12/2008   P   75,000 A $ 0.43 295,257 I See footnote (1) Common Stock 11/14/2008   P   75,000 (7) A $ 0.3798 (7) 370,257 I See footnote (1) Common Stock 11/17/2008   P   75,000 (8) A $ 0.39 (8) 445,257 I See footnote (1) Common Stock               19,484 I See footnote (2) Common Stock               19,484 I See footnote (3) Common Stock               19,484 I See footnote (4) Common Stock               19,484 I See footnote (5) Common Stock               19,484 I See footnote (6)

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

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Kessner Steven 16 PADDINGTON ROAD SCARSDALE, NY 10583	X

Signatures

/s/ Scott E. Pueschel, Attorney-in-Fact for Steven Kessner		11/17/2008
**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)	Held by RE Funding, LLC, of which the reporting person is the sole officer and director and over which he has sole voting and investment control
(2)	Held by The Adam Kessner Trust, of which the reporting person is the sole trustee and exercises sole voting and investment control over the shares held by this trust.
(3)	Held by The Michael Kessner Trust, of which the reporting person is the sole trustee and exercises sole voting and investment control over the shares held by this trust.
(4)	Held by The Robert Kessner Trust, of which the reporting person is the sole trustee and exercises sole voting and investment control over the shares held by this trust.
(5)	Held by The Richard Kessner Trust, of which the reporting person is the sole trustee and exercises sole voting and investment control over the shares held by this trust.
(6)	Held by the reporting person as custodian for Jonathan Kessner, one of the reporting person's children. The reporting person exercises sole voting and investment control over these shares.
(7)	Represents the aggregate number of shares purchased on the date indicated and the weighted average price at which such purchases were made. Such purchases were made at prices ranging from $0.3775 to $0.38 per share. The reporting person will provide to the Commission, the issuer and any stockholder, upon request, full information regarding the number of shares purchased or sold at each separate price.
(8)	Represents the aggregate number of shares purchased on the date indicated and the weighted average price at which such purchases were made. Such purchases were made at prices ranging from $0.37 to $0.40 per share. The reporting person will provide to the Commission, the issuer and any stockholder, upon request, full information regarding the number of shares purchased or sold at each separate price.

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