Power factor improvement minimizes energy losses, can improve voltage regulation and reduce your electric bill directly if your are charged for power factor.

Hope this helps,

Newton1Law

Also, see this recent post for an intuitive explanation of power factor.

https://www.askmehelpdesk.com/engine...or-547631.html

A practical everyday advantage to a high PF is that poor PF will causes non-working amps to be drawn on switchgear, cables, transformers, all of which are derated for safety and future use purposes.

Higher loads stress systems and can cause unplanned outages, loss productions, Life Safety issues.

Corrected systems will operate cooler and more reliable, added capacity can be realized.

And, of course, as mentioned, cash savings.