No one uses the server after hours so I'd like to schedule my OS to shut down every day at 5 pm. In this scenario, I am assuming you will charge only the time the server is up and running. Am I correct?
Your virtual server will still be billable even in a powered-off state (https://www.digitalocean.com/help/pricing-and-billing/general/).
A better approach for your use-case would be to perform a snapshot of a virtual...