A: NO it cannot 500va is 500 x 1 amp = 500 watts you need a 700va to work properly,
To answer this question the voltage of the bulbs is needed.
4.3 amps
The symbol, V.A (not 'VA'), represents 'volt amperes', which is the traditional unit of measurement for apparent power, where apparent power is the product of a load's supply voltage and its load current. Expressed another way, apparent power is the vector sum of the load's true power (in watts) and its reactive power (in reactive volt amperes).
The simple formula you are looking for is W = I x E. Watts = Amps x Volts.
Yes, you should be able to employ a buck boost Xformer to boost your 208V to the motors specified 240 V. Make certain when your buy or order the Xformer that it has taps to supply 240V specifically. Most will in that voltage range. The next important thing is that the new Xformer must be capable of supplying the full horsepower required by the motor. Transformer output capacity is measured in VA or volt-amps. In all praticality, this means watts. To get the number of volt-amps or watts your motor needs, multiply the number of horsepower of the motor times 746. ( 1 Horsepower = 746 Watts) example: a 3/4 hp. motor would need 3/4 or .75 X 746 W or 559.5Watts or volt-amps.Therefore a standard 500VA or .5KVA transformer wouldn't have quite enough output and you'd have to go to the next standard size 750VA. But the bottom line here is cost. Buck Boost Xformers are expensive. Figure out what the correct size of transformer you need to run your motor. Then price it out. Then price out a new 208volt motor of the same hp. rating as the one you have. If the motor is cheaper, well then there you go, just buy a new motor. Unless the BB Xformer is a lot less than a new motor, I'd advise buying a new motor and then you have a NEW motor instead of an old motor with a transformer and the hassle of wiring it up. ( For the record, the difference between the pure value of volt-amps and watts or power is that in alternating current, the CEMF, (counter electromotive force) creates a small power or wattage loss because of increased resisatnce. This is insignificant to smaller motors, i.e., less than 10 h.p.)