I don’t see how that addresses the claim “The power bill savings aren't worth the decreased hardware life.”
It might even be the case that, if you bought a replacement six years ago and kept that powered on 24/7, you would have ended up paying less in (hardware+power).
It might even be the case that, if you bought a replacement six years ago and kept that powered on 24/7, you would have ended up paying less in (hardware+power).