While power-factor correction (PFC) is real, it is most useful when applied to high-power industrial-grade AC induction motors that run 24/7. Most of the time, however, placing a few "squirrel-cage" AC synchronous motors in parallel with the induction motors will correct the power factor to within a few percentage points.
Placing a PFC device on your home refrigerator, freezer, or furnace motor might make you feel good about "going green", but the intermittent use of these low-power appliances (their motors do not run 24/7) will not provide a noticeable return on your investment. Even if they did run 24/7, the economic advantage gained through a PFC would be overwhelmingly swamped out by the raw current draw of lights, televisions, computers, and other non-inductive appliances.