1. Preheat oven to 350°F.
2. Place shredded zucchini on layered paper towels, and cover with additional paper towel. Let stand 5 minutes, pressing down occasionally. Set aside. Don't dry excessively. (Do the same with
shredded carrot if you decide to add it.)
3. Combine zucchini, applesauce, egg, oil, and vanilla in a large bowl.
4. Combine flour, sugar, baking soda, salt, ground cinnamon and baking powder in a medium-sized bowl. Slowly add to the wet mixture until blended well.
5. Divide batter evenly between two 7 1/2 x 3-inch loaf pans you have coated with cooking spray. (Make sure to mix in nuts after you divide the batter so one loaf will have nuts and one loaf won't.)
6. Bake both loaves in the oven for 1 hour and 15 minutes. They're done when you can insert a toothpick and it comes out clean. Let cool in pans 10 minutes on a wire rack; remove bread from pans, and let cool completely on wire rack. (If you choose to give the pans as gifts, wait until they have cooled, wash them off, add ribbon or twine
and put the loaves back in.)