This is something I've looked at over the years. Consensus seems to change at times.
With current computer components is shutting down your pc when not in use hard on them or is leaving your computer on all the time worse? I don't want to leave my computer on 24/7, in order to cut costs and save energy, so I think turning it off at night would be prudent. What about if you are only away from your computer for an hour or two? Use Standby/Sleep, Hibernate, or just leave on? On days that I use my computer a lot I don't want to be turning it on and off repeatedly.
When I have nothing for my computer to do I just put it in S3 standby/sleep mode whatever you want to call it. It takes only a few seconds to enter and exit this mode, and while in it, basically the only thing that requires power is the RAM, which takes only a tiny bit.