Preheat oven to 450 degrees. Spray large non-stick baking sheet with oil spray. Coarsely grate potatoes and carrots. Place them in large sieve. Set sieve into a large bowl so it nestles securely. Squeeze vegetables to wring out as much liquid as possible. If vegetables still feel wet, pat dry with paper towels, then transfer them to a mixing bowl. Stir in flour, parsley, onion, eggs, oil, salt and pepper, making sure ingredients are well combined.
Spoon small mounds of the mixture on the baking sheet to form 2 1/2-inch pancakes, leaving 1 inch between each. Bake latkes until golden brown, 6 to 8 minutes per side, turning once with spatula. Pancakes can also be made in a pan, preferably non-stick, with a light coating of canola oil spray on the bottom. Heat pan to high, then reduce to medium or medium-high heat. Transfer cooked pancakes to warm plates or a serving platter and serve at once. If desired, serve with low-fat sour cream or applesauce.