Hi all. This is a topic that has been on my mind a lot lately. I seem to remember a few people saying that you should avoid unnecessary power-cycles of test equipment - specifically high precision ones. Form others I've heard the opposite - and keeping equipment on 24/7 will cost me more money, especially with the 30 eurocents/kWh that we pay around here.
The arguments for keeping them on 24/7 are generally along the lines of thermal cycles causing drift (I've mainly heard this in regards to anything with a very high precision oscillator). This makes sense on an intuitive level as well: every time you thermally cycle a device, the thermal gradients will cause different parts of your crystals and voltage references to expand and contract at different rates (as the thermal gradient passes along the device in question). This means that you are ever so slightly warping the device by doing so. This repeated warping will speed up the drift of the reference in question (be it frequency or voltage or whatever). Hence, you should try and keep references at a constant temperature at all times. (Some say this is also why a lot of instruments will keep the OCXO on whenever they are powered - but I've heard others say it's just so you don't have to wait half an hour before you can do your measurements)
The counter-argument I've heard is that a number of process that contribute to drift will increase in rate with temperature. Materials become more ductile causing them to flex more, and thus wear more quickly (in crystals). Diffusion rates increase, causing faster drift in semiconductor references or offset values. Additionally, a lot of other stuff just wears more quickly: Constant heat and load will decrease the lifespan of your electrolytic capacitors. VFD's lose their brightness. LCD burn-in is a thing. And in general - the longer something is on, in general, the more likely it is to fail.
So what is the right thing to do, and more important: Why? What are the different effects, and how important is each?