IANAE (I am not an electrician), but the claims about improving power factors are accurate from a physics/electrical engineering perspective. As this thread:
indicates, whether you save money depends on what your power meter measures. Mine measures kilowatt-hours (kWh) -- the electricity consumed -- rather than kilovolt-ampere-hours (kilo volt-ampere hours) -- the electricity flowing in. Therefore, a higher power factor doesn't help my costs at all: any "wasted" electricity simply flows back out and gets credited back.
This unit is suppposed to correct inductive loading so your "power factor" will be closer to "one" (which is pure resistance). BrettS gives a good explanation of how power factor relates to cost calculatons HERE.
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