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It's convenient to close the lid of our laptops, go to a meeting, return, and open the laptops to be right where we left off without having to wait for our machines to boot. We save a lot of time in our lives not waiting for our machines to shut down and start back up, but we should not make putting our machines to sleep all the time our modus operandi. A habit of always putting a machine to sleep rather than shutting it down may override the conscious act of deciding whether to put to sleep or shut down.
As we hurry through our lives, we may close the laptop lid before a machine has fully shut down.This may cause the machine to go to sleep instead of fully shut down. What if you forget the power adapter is not plugged in? If your battery expires while your machine is sleeping with the power adapter not plugged in, your machine may have difficulty waking. The sleep LED may be pulsing, but there isn't enough power from the battery to start the hard drive and power the display. If this happens, plug your adapter in for ten minutes or so before trying to wake your machine.
Some say leaving a computer on all the time saves wear and tear on the components. While frequent restarts do cause more wear on components, it's fine to shut your machine down daily. From a maintenance standpoint, shut down at least once a week. From a green energy saving standpoint, shutdown and unplug or turn off surge protectors and power strips.
Laptop Battery Conditioning and Maintenance
Wikipedia: Sleep Mode