© 2017, Springer Science+Business Media New York. Task scheduling for large-scale computing systems is a challenging problem. From the users perspective, the main concern is the performance of the submitted tasks, whereas, for the cloud service providers, reducing operation cost while providing the required service is critical. Therefore, it is important for task scheduling mechanisms to balance users’ performance requirements and energy efficiency because energy consumption is one of the major operational costs. We present a time dependent value of service (VoS) metric that will be maximized by the scheduling algorithm that take into consideration the arrival time of a task while evaluating the value functions for completing a task at a given time and the tasks energy consumption. We consider the variation in value for completing a task at different times such that the value of energy reduction can change significantly between peak and non-peak periods. To determine the value of a task completion, we use completion time and energy consumption with soft and hard thresholds. We define the VoS for a given workload to be the sum of the values for all tasks that are executed during a given period of time. Our system model is based on virtual machines, where each task will be assigned a resource configuration characterized by the number of the homogeneous cores and amount of memory. For the scheduling of each task submitted to our system, we use the estimated time to compute matrix and the estimated energy consumption matrix which are created using historical data. We design, evaluate, and compare our task scheduling methods to show that a significant improvement in energy consumption can be achieved when considering time-of-use dependent scheduling algorithms. The simulation results show that we improve the performance and the energy values up to 49% when compared to schedulers that do not consider the value functions. Similar to the simulation results, our experimental results from running our value based scheduling on an IBM blade server show up to 82% improvement in performance value, 110% improvement in energy value, and up to 77% improvement in VoS compared to schedulers that do not consider the value functions.