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chris:
If I take a very good capacitor, these can be very low in loss, and select its value of capacitance to have a capacitive reactance of 100 ohms, then connect it in series with a 100 ohm resistor. To this series combination I apply a voltage to cause 1 A of current flow. The input electrical power is 100 W and the output power is 100 W in heat. There is no other heat loss in this series combination. Thus, the efficiency is 100%. The phase angle is 45 deg, and the input voltage to the series combination is 141.4 V. The input VA calculation is 141.4 VA, and the PF is 0.707.
I chose to use a capacitor in this example so I did not have to process the series resistance in an inductor. With an inductor we have substantial power loss in its internal resistance, and in a practical illustration we would have less than 100 % efficiency if the intended load was the 100 ohm resistor.
Efficiency and power factor are not the same. However, bad power factor does influence the efficiency of the power distribution system even if it did not effect the efficiency of my capacitor resistor example.
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