Not really just Plex, in addition to powering 6 spinning drives (~50TB total), I also run Nextcloud, immich, Ollama (CPU inference, no GPU), home assistant, grocy, vaultwarden, jellyfin, sonarr, radarr, lidarr, prowlarr, flaresolverr, and overseerr. I run Plex on a separate Intel nuc10 (also included in that $10 of electricity) which has Intel QuickSync which allows me to transcode ~8 simultaneous 1080 streams to friends while leaving most of the rest of the CPU to everything else like running LLMs on the CPU (it’s cheaper to run larger models on a slower CPU with lots of RAM compared to buying a GPU with a matching amount of vram).

So yeah if you don’t care about n+2 double redundant disks or sharing with more than like 5 people or hosting other apps or running AI while people are streaming then yeah you should totally get something less power hungry. Just the Intel nuc10 I use for Plex (but not media storage) has a TDP of 25W so just that would lower the electricity cost to like $2.50/mo.