Preheat your oven to 350°F (175°C).
Cream together the shortening, granulated sugar, and light brown sugar until light and fluffy (about 2-3 minutes).
Beat in the egg, water, and vanilla extract until well incorporated.
In a separate bowl, whisk together the flour, cinnamon, salt, and baking soda. Gradually add to the wet ingredients until just combined.
Fold in the peanut butter chips until evenly distributed throughout the dough.
Scoop rounded balls of dough onto a lined baking sheet, spacing them about 2 inches apart. Bake for 10-12 minutes until edges are lightly golden.
Let cookies cool on the baking sheet for 5 minutes before transferring to a cooling rack.
