Originally Posted by Szadzik
Set up an alarm on your PC. Turn it off. Will it work?
Actually, it will so long as its plugged in; the BIOS will wake the PC at the alarm time. You can use CMOS Setup to wake the PC or use Windows' Task Scheduler.
Androids were meant to be powered on all the time. Unless your device isn't configured properly, standby should barely use any power (<=1.5%/hr).