Yes, as long as it is protected with a 20A 240V breaker or fuses.
The capacitors are just holding a charge once they are charged and when there is no load running. The load that is being read from an amp draw meter is cycling in the capacitors not being drawn from the line.
PowerSave has a 5-year warranty on most of their products.
The PowerSave 1200 will work on any single phase 200 Amp service or lower. The unit gets installed to a 2-pole 20 Amp breaker or fuses.