1) I disagree to some extent. Installing equipment to make the power factor unity (1.0), will save energy thus save money. However, depending on the equipment being powered, the savings will vary widely.
2) The purpose of power factor correction is to make the real power and apparent power values become equal so that reactive power is as close to zero as possible. If this is done, a customer will not only have to pay for the real power, but the reactive power as well. (the total of those is known as complex power)
3) Now, if the customer is running motors, transformers, more motors and ballast based lighting, power factor correction will save money. Keep in mind that most if not all modern ballasts have built in PFC caps).
4) When dealing with AC, watts are not a valid measurement of power unless your loads are purely resistive (PF=1). This is why transformers are rated in kVA. This unit figures in real power, reactive power and complex power into a value that is somewhat simple to work with.
5) DC is the only time that watts are a valid unit. Pulse DC is a different animal. Non linear loads such as computers and other office equipment fall under AC however, you start to have to factor in reflected impedance or else you can start melting transformer neutrals.