Power factor correction is a technology which has been around for several decades now. It has been used mostly by large electricity consumers. Harmonics filtering came in later when the used of computers became common in the business environment.
Power factor correction and harmonics filters when installed can actually have a very short payback period. PF corrections have 2-3 years payback period while harmonics filters is on the 5-6 years period.
Power factor corrections prevents penalties imposed by power companies. Harmonics filters on improves equipment performance due to the elimination of the harmonics in the power system.
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