Final answer:
VM Deallocation is a cloud computing process where a virtual machine is powered down, retaining its data but releasing compute resources. It helps reduce costs by preventing charges for unused compute resources, though some storage costs may still apply.
Step-by-step explanation:
VM Deallocation is a process in cloud computing where a Virtual Machine (VM) is powered down and its resources are returned to the pool, but the VM's virtual hard disks and configuration are retained. This process is particularly important in cloud environments where customers are billed based on resource consumption, so deallocating a VM when it is not in use can lead to cost savings.
When a VM is deallocated, the compute resources (like CPU and memory) are no longer in use, and thus, you are not billed for them. However, resources that persist after deallocation, such as storage, may still incur costs, albeit these are generally lower than the costs of running the VM. By utilizing VM deallocation strategically, companies can significantly reduce costs associated with their cloud computing needs, especially in development and testing environments, or during off-peak business hours.