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 *
COLEMAN CLINT
   2. Issuer Name and Ticker or Trading Symbol
DISTRIBUTED ENERGY SYSTEMS CORP [DESC] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President of NPS Inc.
(Last)
(First)
(Middle)
10 TECHNOLOGY DRIVE		 3. Date of Earliest Transaction (Month/Day/Year)
03/10/2005
(Street)

WALLINGFORD, CT 06492		 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 03/08/2005   M   50,286 A $ 0.07 120,283 D  
Common Stock 03/08/2005   M   4,024 A $ 0.37 124,307 D  
Common Stock 03/08/2005   M   5,286 A $ 0.07 129,593 D  
Common Stock 03/08/2005   M   14,482 A $ 0.37 144,075 D  
Common Stock 03/08/2005   M   12,068 A $ 0.37 156,143 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
Incentive Stock Option (right to buy) $ 2.63               (1) 01/10/2015 Common Stock 25,000   25,000 D  
Incentive Stock Option (right to buy) $ 2.9               (1) 12/10/2013 Common Stock 20,000   20,000 D  
Non-Qualified Stock Option (right to buy) $ 0.05               (2) 01/25/2010 Common Stock 50,286   50,286 D  
Non-Qualified Stock Option (right to buy) $ 0.07               (3) 01/29/2009 Common Stock 50,286   50,286 D  
Non-Qualified Stock Option (right to buy) $ 0.37               (4) 12/10/2008 Common Stock 10,059   10,059 D  
Non-Qualified Stock Option (right to buy) $ 0.37               (5) 03/09/2011 Common Stock 24,137   24,137 D  
Non-Qualified Stock Option (right to buy) $ 0.37               (6) 01/28/2012 Common Stock 20,114   20,114 D  
Warrant $ 2.8             12/10/2003 12/10/2006 Common Stock 49,757   49,757 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
COLEMAN CLINT
10 TECHNOLOGY DRIVE
WALLINGFORD, CT 06492		       President of NPS Inc.  

Signatures

 By: John A. Glidden For: Clint Coleman   03/10/2005
**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) 4yr 25% On Vest
(2) 50,286 shares at $0.05 30,171 vested 12/10/03, 10,057 vesting 1/25/04, 10,058 vesting 01/25/05
(3) 50,286 shares at $0.07 40,229 vested 12/10/03, 10,057 vesting 01/29/04
(4) 10,059 shares at $0.37 5 year vesting schedule starting 2/26/04
(5) 24,137 shares at $0.37 9,654 vested on 12/10/03, 4,828 vesting 3/9/04, 4828 vesting 3/9/05, 4827 vesting 3/9/06
(6) 20,114 shares at $0.37 4,022 vested 12/10/03, rest vest over 4 years starting 1/28/04

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