If a load is inductive or capacitive, it will have a low power factor, and appear to use more power than it actually is.
If a load is purely resistive, it will have a power factor of 1.
Adding capacitance to an inductive load can help to correct the power factor.
Adding inductance to a capacitive load can help to correct the power factor.
Google "power factor" for more information.
Inserting a capacitor across a motor winding will definitely improve the power factor; ie, reducing current demand from the source while motor current is un-changed. There is another advantage in doing this and that is an increase in motor torque.
Cheers, DPW [ Everything has limitations...and I hate limitations.]