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No.
Usually capacitors are used for industrial or manufacturing users to reduce the "penalty" on their electricity bill for having a small power factor.
If you add a capacitor at home, you may be slightly reducing transmission losses for the electricity supplier, but certainly you power consumption will not decrease by adding capacitors.
Dear,
Specifically :Normally the PF in home is not bad(i.e reactive power is small) as there are not lots of motors hence ,using capacitor to decrease the reactive power which adds up to your bill will not give much to you.i addition adding a capacitor may make your network leading instead of lagging especially when the loads are light which is another type of lossess added to you bill.
Kindly, calculate your loads and PF first and decide.
it will be used for the areas where load (specially induction)varis and PF is POOR ,the bank is to improve the efficiency .
i think you can use the capasitor to reduce condumption but for word you use (capasitor banks ) it works for mv level
NO
Capacitor banks are used to increase the power factor, where non-linear (inductive) load are connected in circuit PF reduces, You should know what is your present PF in your metering device. If it is very low then you are paying actually a huge bill, but you can't come out from this problem using a capacitor bank in your house.
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