Sprinkle both sides of scallops with chili powder, salt, and black pepper.
Melt 1 1/2 teaspoons butter in a large nonstick skillet coated with cooking spray over medium-high heat.
Add half of scallops; cook 3 minutes on each side or until done.
Remove scallops from pan; keep warm. Repeat procedure with remaining butter and scallops.
Add water, jalapeo pepper, and lime juice to pan; cook 1 minute, scraping bottom and sides of pan to loosen browned bits. Spoon sauce over scallops; sprinkle with cilantro.