We present a model to evaluate the server lifetime in cloud data centers (DCs). In particular, when the server power level is decreased, the failure rate tends to be reduced as a consequence of the limited number of components powered on. However, the variation between the different power states triggers a failure rate increase. We therefore consider these two effects in a server lifetime model, subject to an energy-aware management policy. We then evaluate our model in a realistic case study. Our results show that the impact on the server lifetime is far from negligible. As a consequence, we argue that a lifetime-aware approach should be pursued to decide how and when to apply a power state change to a server.