My Linode is Powered Off. Will it still be considered for billing ?

We charge our customers for the resources that we allocate towards their Linode. As long as the Linode exists those resources remain reserved for your use so charges will accrue. If you'd like to stop billing for a service you can remove it from your account.

To remove a service from your account, this link could be helpful:

https://www.linode.com/community/questions/question/416/how-do-i-remove-a-linode-from-my-account

Is there a way to download an image so that I can restore it later? Seems like a waste to destroy it completely…

Hey there,

You can download an entire disk from your Linode over SSH. We have a guide that walks you through the process:

Copy a Disk Image Over SSH

That way you can save your data and have it available when you're ready to spin up a new Linode down the road and restore it.