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One such description at http://www.kvarpowersystems.com/about.html is

Homes today have substantial amounts of inductive load. By "inductive
we mean anything in your home that runs by a motor: air conditioners,
pumps, refrigerators, freezers, washers, dryers, pool pumps, hair
dryers, and 
more. These motors require a certain amount of reactive power
power) from the utility transformer to work. This demand for power runs 
through your home's wiring, the panel box, the meter and down the lines
the transformer. The motors use what they need, and the remainder amount
energy is dispersed into heat, never to be used again. This wasted
accounts for up to 25% of the electricity you've already paid for!

The IES Power Mender reduces the energy wasted from these appliances by 
reducing the amount of reactive power your main electrical load draws
the utility. It actually saves energy by storing and releasing the
amount of 
power your electrical appliances need to function properly, and only
they need it, thus reducing the demand for energy and the heat on your
system and motors. Lowering this heat reduces your electric bill every
reduces the chance of fire, and increases the life of your electrical 
appliances and systems. Doesn't it make sense it purchase an IES KVAR(c)

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