Restaurants usually pay about $100 a month to dispose of used oil from deep-fryers, but mechanical engineer James Peret of Massachusetts invented a way to turn that oil into energy savings. A small generator called the Vegawatt sits outside the restaurant, filtering out the old bits of food and pumping the clean oil into a system that can cut about $1,000 from a restaurant's utility bill. Guy Raz talks to Peret as part of our series on some of the great inventions of 2009.