An approach for object storage power consumption optimization in a networked storage environment is provided. In a typical embodiment, a plurality of memory devices are organized into pods having a predetermined number of memory devices and to which redundantly replicated objects are intelligently placed. At least one pod is activated in a read-write configuration, such that data written to the networked storage environment is written to this pod. At least one other pod is a deactivated pod, which has at least one designated memory device in a read-only configuration and a remainder of devices in a deactivated state. Requests for data contained in this deactivated pod are serviced by the designated memory device in the read-only configuration. In some embodiments, the activated and deactivated pods are rotated based on an event.