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Did you really mean 'eliminate' or did you mean reduce? If you meant eliminate, that's fine. I was just thinking that capacitor prices seem to increase with capacitance. If your application dosen't need 0 ripple, you may be able to save a little money by keeping a sight ripple.
Some voltage regulators behave in a way that reduces ripple. I get the impression that careful design of even a simple power supply can result in an output that has low ripple. I've seen the ripple reduction specs that are used to decribe the common regulator ICs but I don't have the skills to interpret what I read, at this point anyway. I might be correct in concluding that the ripple reduction features of some IC's might reduce the demands of a filter capacitor. As suggested, the price of large caps is up there - many ICs and associated electronics are cheap.