BS for sure but there could be some basis in truth.
My electrical engineering teacher said that the power company would offer price incentives
to industrial customers if they could improve their power factor.
So for example if a factory had a lot of motors which present an inductive load they could improve
their power factor by adding capacitance.
Why would the power company want this?
Because reactive loads cause energy to be lost in the transmission lines.
So yes this could be a real thing in an industrial setting but for the average joe at home it's BS.
-Steve Bennett