Capacitor Bank Panel

 As the name implies, a capacitor bank is merely a grouping of several capacitors of the same rating. Capacitor banks may be connected in series or parallel, depending upon the desired rating. As with an individual capacitor, banks of capacitors are used to store electrical energy and condition the flow of that energy.  Electric Power eTool: Substation Equipment – Capacitor Bank. Capacitors are used to control the level of the voltage supplied to the customer by reducing or eliminating the voltage drop in the system caused by inductive reactive loads. 
 
The function of a capacitor bank placed at an MCC panel is to provide reactive power to the inductive loads (improve power factor) and raise the voltage according to the system strength and capacitor bank size. … This is common when the capacitor bank is large and the system is relatively weak.
Capacitor in DC circuits is used to keep control signal voltage/current constant and ripple free as voltage across the capacitor can not change suddenly and when there is change in voltage, capacitor opposes this change and try to keep voltage unchanged.

 80 kvar to 1000 kvar capacitor bank, for power factor correction