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Actually, the power drawn by the motor is the same regardless of whether its wired for 220 or 110. If your electric company is telling you different, either their meters aren't reading watt-hours, or they're blowing smoke. Power is power, period! The advantage of using 220 is that since only half as much current is drawn, you can use smaller wire. Additionally, there is less loss in the wiring because of the lower current. For example, a compressor which draws 15 amps requires a 20 amp circuit (they're only supposed to be loaded to 80% of breaker capacity) run with #12 wire. On 220, it would draw 7.5 amps, and could be easily run on a 15 amp circuit wired with #14. At higher powers, it becomes impractical to run a load on 120 volts due both to the size of the wire required to carry the current and the load imbalance resulting from drawing significantly more current from one leg than the other. I'm not that familiar with how power company meters respond if the load isn't balanced, so there may be a (probably) small difference in measured comsumption when you're drawing current in both hot legs instead of only one. Breaker panels are supposed to be wired so that, on average, the same amount of current is drawn on both hot legs and the load remains balanced. In practice that rarely actually happens, but I'd be really concerned if the power company meters had a large error when the load isn't balanced. If I get a few minutes, maybe I'll look up how pole meters work & find out for sure. One other thing you'll notice if you re-wire it for 220 is a reduction in lights flickering when it starts. Starting current is divided between both hot legs instead of only one, with a corresponding reducting in the voltage dip resulting from starting current draw. Keith PS...I'm only a practicing electical engineer with 30+ years of professional experience !:)
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