AWS Savings Plan

  • Savings Plan is a flexible pricing model that helps you save up cost on Amazon EC2, AWS Fargate, and AWS Lambda usage.
  • You can purchase Savings Plans from any account, payer or linked. 
  • By default, the benefit provided by Savings Plans is applicable to usage across all accounts within an AWS Organization/consolidated billing family. You can also choose to restrict the benefit of Savings Plans to only the account that purchased them.
  • Similar to Reserved Instances, you have All Upfront, Partial upfront, or No upfront payment options.

Plan Types

  • Compute Savings Plans – provide the most flexibility and prices that are up to 66 percent off of On-Demand rates. These plans automatically apply to your EC2 instance usage, regardless of instance family (example, M5, C5, etc.), instance sizes (example, c5.large, c5.xlarge, etc.), Region (for example, us-east-1, us-east-2, etc.), operating system (for example, Windows, Linux, etc.), or tenancy (Dedicated, default, dedicated host). They also apply to your Fargate and Lambda usage. 
    • You can move a workload between different instance families, shift your usage between different regions, or migrate your application from Amazon EC2 to Amazon ECS using Fargate at any time and continue to receive the discounted rate provided by your Savings Plan.
  • EC2 Instance Savings Plans – provide savings up to 72 percent off On-Demand, in exchange for a commitment to a specific instance family in a chosen AWS Region (for example, M5 in N. Virginia US-East-1). These plans automatically apply to usage regardless of instance size, OS, and tenancy within the specified family in a region.
    • You can change your instance size within the instance family (example, from c5.xlarge to c5.2xlarge) or the operating system (example, from Windows to Linux), or move from Dedicated tenancy to Default and continue to receive the discounted rate provided by your Savings Plan.
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Savings Plan vs RIs

Compute Savings Plans

EC2 Instance Savings Plans

Convertible RIs

Standard RIs

Savings over On-Demand

Up to 66 percent

Up to 72 percent

Up to 66 percent

Up to 72 percent

Automatically applies pricing to any instance family

Automatically applies pricing to any instance size

Regional only

Regional only

Automatically applies pricing to any tenancy or OS

Automatically applies to Amazon ECS using Fargate and Lambda

Automatically applies pricing across AWS Regions

Term length options of 1 or 3 years

Monitoring

  • The Savings Plans Inventory page shows a detailed overview of the Savings Plans you own.
  • If you’re a user in a linked account of AWS Organizations, you can view the Savings Plans owned by your specific linked account. 
  • If you’re a user in the payer account in AWS Organizations, you can view Savings Plans owned only by the payer account, or you can view Savings Plans owned by all accounts in AWS Organizations.
  • You can use AWS Budgets to set budgets for your Savings Plan utilization, coverage, and costs.

Sources:
https://aws.amazon.com/savingsplans/
https://docs.aws.amazon.com/savingsplans/latest/userguide/what-is-savings-plans.html
https://aws.amazon.com/savingsplans/faq/

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