Got a new pool pump yesterday
 

I wish it was variable frequency; but I couldn't afford it.
Upgraded from 2.5 hp 110 volt setup (30 amps running) to 1 hp 220 setup (7 amps running).

Flows nearly as much; but will not make nearly the pressure my old one did (will have to backwash pump more frequently).

Edit: impeller on the old pump was warped and a new pump was only $45 more than just the impeller.

If you have a problem with many inefficient motors in your home , there is a device that you can install at your electric panel that will adjust your homes power facter to nearly 99%, thus lowering the cost of running inductive loads like pool pumps. Motors are very inefficient and create reactive energy which creates resistence in circuit causing heat. Heat is wasted energy. The device captures the reactive energy and stores it in capacitors and when the motor needs it, sends it back to the motor before getting additional energy from the power company thus recycling the energy that normally be lost.

Umm; I want to say "NO" But I guess I'm just going to go with. skeptical.
From memory; most induction motors are pretty efficient as far a making rotational energy; mine was just fighting to push tons of water through far to small plumbing and far to small of a filter.

Tell us more.

To find the efficiency of your motor you put it to a power factor meter. A one horse water pump is rated at 1900 watts and has a surge wattage of 5700 watts.The difference in watts is the reactive energy that the motor draws just to create a EMF, Which only takes a second, Then the reactive energy is expelled back into the line to dissipate in heat in the wires and the motor. This heat shortens the life of the motor. This process is repeated every the motor cycles on. To make the motor as efficient as possible it should be sized to handle the load and cycle as little as possible to avoid the reactive energy. Most homes average a power factor of .75 or less out of a possible 1.0 PF. Which means that out of every dollor spent on electric only 75% is being utililized effectivly. If you corrected your power factor to .98 or.99 your electric bill would fall about 30%.
Search -home wattage calculator to download wattage usage table

Maybe you should have got a belt drive (or chain drive) pump. Then you can just change the pulleys (or gears) to change the speed, which is almost as good as variable speed.