Reducing power factor

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Dear All,
Does anybody have any experience with installing capacitors to reduce the power factor of your site?
Has that been used as an innovativation credit in LEED or does it have any implication on energy modelling?
My understanding is that it reduces transmission losses but does not affect the power consumption of the buildings.
Any help would be greatly appreciated.
?
Regards,
Kapil Upadhyaya.

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