Begin by preheating the oven to 350° F (176° C). Lightly spray a 6 inch cake pan with cooking spray.
In a medium bowl, stir up the wet ingredients well, the egg, peanut butter, oil, and honey until well mixed.
Add in the shredded carrots and stir everything together.
Add in the flour and baking soda, folding gently until just combined.
Pour the cake batter into the pan and bake for about 40 minutes, until a toothpick comes out clean. Cool in the pan for about 5-10 minutes then remove it from the pan to cool on a rack.