A method of power factor control for a power regulation system connected for supplying electric power to a reactive load, the power factor being characterized by a phase difference between a voltage waveform and an induced current waveform, the method comprising the steps of identifying a peak of an AC current waveform and a peak of an AC voltage peak waveform, determining a time delay between a designated peak of a half cycle of the voltage waveform and a peak of a corresponding half cycle of the current waveform; and adjusting the voltage applied to the load in a manner to vary the time delay so as to bring the power factor towards unity.