George, capacitors are energy storage devices. Any energy your capacitor stores off the grid will be returned to the grid, 120 times per second.
Your meter measures power, not volt-amps. That's true whether the current is leading or lagging voltage. Let's take three examples:
1. Motor not adjusted for PF, so let's say PF is .7. A one-horsepower motor needs 746 watts, but 1066 volt-amps.
2. Motor adjusted for unity PF. Now the 1 hp motor draws 746 watts and 746 VA.
3. Motor turned off but the PF capacitor is still in the circuit. Power is now zero, although the VA will be greater than zero (not enough info to solve for VA in this condition).
The meter compensates for the phase angle between current and voltage, so you only pay for power, not VA. The power company doesn't like a lagging power factor, because it costs them money due to line losses and increased transmission capacity requirements. Leading power factors are seldom seen in the real world.
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Today's Featured Article - Harvestin Corn in Southern Wisconsin: The Early Years - by Pat Browning. In this area of Wisconsin, most crops are raised to support livestock production or dairy herds in various forms. Corn products were harvested for grain, and for ensilage (we always just called it 'silage'). Silo Filling Time On dairy farms back in the 30's and into the first half of the 40's, making of corn silage was done with horses pulling a corn binder producing tied bundles of fresh, sweet-smelling corn plants, nice green leaves with ear; the
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