diff --git a/pvlib/iotools/__init__.py b/pvlib/iotools/__init__.py
index ecc70cab2b..adb4733a68 100644
--- a/pvlib/iotools/__init__.py
+++ b/pvlib/iotools/__init__.py
@@ -22,4 +22,4 @@
 from pvlib.iotools.sodapro import get_cams  # noqa: F401
 from pvlib.iotools.sodapro import read_cams  # noqa: F401
 from pvlib.iotools.sodapro import parse_cams  # noqa: F401
-from pvlib.iotools.pvsyst import read_panond, parse_panond
\ No newline at end of file
+from pvlib.iotools.panond import read_panond, parse_panond
diff --git a/pvlib/iotools/pvsyst.py b/pvlib/iotools/panond.py
similarity index 75%
rename from pvlib/iotools/pvsyst.py
rename to pvlib/iotools/panond.py
index bcb1e95b06..87ad2764c8 100644
--- a/pvlib/iotools/pvsyst.py
+++ b/pvlib/iotools/panond.py
@@ -5,27 +5,28 @@
 import io
 
 def num_type(value):
-    # Determine if a value is float, int or leave as string
+    
 
+    # Determine if a value is float, int or leave as string
     if '.' in value:
         try:  # Detect float
             value_out = float(value)
             return value_out
-        
+
         except ValueError:  # Otherwise leave as string
             value_out = value
             return value_out
-    
+
     else:
 
         try:  # Detect int
             value_out = int(value)
             return value_out
-        
+
         except ValueError:  # Otherwise leave as string
             value_out = value
             return value_out
-    
+
 
 def element_type(element):
     # Determine if an element is a list then pass to num_type()
@@ -35,7 +36,7 @@ def element_type(element):
         element_out = []
         for val in values:  # Determine datatype of each value
             element_out.append(num_type(val))
-        
+
         return element_out
 
     else:
@@ -50,13 +51,13 @@ def parse_panond(fbuf):
     ----------
     fbuf : File-like object
         Buffer of a .pan or .ond file
-    
+
     Returns
     -------
     comp : Nested Dictionary
-        Contents of the .pan or .ond file following the indentation of the file. 
-        The value of datatypes are assumed during reading. The value units are
-        the default used by PVsyst.
+        Contents of the .pan or .ond file following the indentation of the
+        file. The value of datatypes are assumed during reading. The value
+        units are the default used by PVsyst.
 
     Raises
     ------
@@ -72,19 +73,27 @@ def parse_panond(fbuf):
     """
     comp = {}  # Component
     dict_levels = [comp]
-    
+
     fbuf.seek(0)
     lines = fbuf.getvalue().splitlines()
-    for i in range(0, len(lines) - 1):  # Reading blank lines. Stopping one short to avoid index error. Last line never contains important data.
-        if lines[i] == '':  # Skipping blank lines
-              continue
 
-        indent_lvl_1 = (len(lines[i]) - len(lines[i].lstrip(' '))) // 2 
-        indent_lvl_2 = (len(lines[i + 1]) - len(lines[i + 1].lstrip(' '))) // 2 
-        line_data = lines[i].split('=') 
+    for i in range(0, len(lines) - 1):
+        if lines[i] == '':  # Skipping blank lines
+            continue
+        # Reading blank lines. Stopping one short to avoid index error.
+        # Last line never contains important data.
+        indent_lvl_1 = (len(lines[i]) - len(lines[i].lstrip(' '))) // 2
+        indent_lvl_2 = (len(lines[i + 1]) - len(lines[i + 1].lstrip(' '))) // 2
+        line_data = lines[i].split('=')
         key = line_data[0].strip()
-        value = element_type(line_data[1].strip()) if len(line_data) > 1 else None
-        if indent_lvl_2 > indent_lvl_1:  # add a level to the dict. The key here will be ignored. Not vital to file function.
+        # value = element_type(line_data[1].strip()) if len(line_data) > 1 else None
+        if len(line_data) > 1:
+            value = element_type(line_data[1].strip())
+        else:
+            value = element_type = None
+        # add a level to the dict. The key here will be ignored.
+        # Not vital to file function.
+        if indent_lvl_2 > indent_lvl_1:
             current_level = dict_levels[indent_lvl_1]
             new_level = {}
             current_level[key] = new_level
@@ -101,19 +110,20 @@ def parse_panond(fbuf):
 
 def read_panond(file):
     """
-    Retrieve Module or Inverter data from a .pan or .ond text file, respectively.
+    Retrieve Module or Inverter data from a .pan or .ond text file,
+    respectively.
 
     Parameters
     ----------
     file : string or path object
         Name or path of a .pan/.ond file
-    
+
     Returns
     -------
     content : Nested Dictionary
-        Contents of the .pan or .ond file following the indentation of the file. 
-        The value of datatypes are assumed during reading. The value units are
-        the default used by PVsyst.
+        Contents of the .pan or .ond file following the indentation of the
+        file. The value of datatypes are assumed during reading. The value
+        units are the default used by PVsyst.
 
     Raises
     ------
@@ -131,7 +141,7 @@ def read_panond(file):
     with open(file, "r", encoding='utf-8-sig') as file:
         f_content = file.read()
         fbuf = io.StringIO(f_content)
-    
+
     content = parse_panond(fbuf)
 
     return content
diff --git a/pvlib/tests/iotools/test_pvsyst.py b/pvlib/tests/iotools/test_panond.py
similarity index 100%
rename from pvlib/tests/iotools/test_pvsyst.py
rename to pvlib/tests/iotools/test_panond.py