Voltage Distribution

Cool. I like the explanation. To add to it slightly, although it may seem that we are losing "capacity" as we add caps in series due to the loss of capacitance, the energy we can store in a series connected cap bank is still the sum of the individual cap energies, just like a parallel connected bank. This is due to the fact that the stored energy is given as E=CV²/2 and the effective voltage capacity of a series bank is again, the sum of the voltage ratings of the caps. So the reduction in energy due to reduced capacitance is canceled due the energy being proportional to the square of the voltage.