1. A method optimized power savings in a storage virtualization system a processor device in a computing environment, the method comprising: creating first meta data for physical resources which describes a power status of a storage resource in one of a powered-on/read-write, powered-on/read only, and powered-off power state; creating second meta data for each of the physical storage resources which determines an actual performance of the physical storage resources and which supports optimization of a powering-on and a powering-off of the physical storage resources; and executing a write request from one of a host and application to logical and virtual storage resource by performing the following: determining a current physical target storage resource by evaluating a mapping table, determining the power-status of the physical storage resource based on one of the first and second meta data, selecting a new target physical storage resource which is in the power state powered-on/read-write if the new target physical storage resource is one of powered-off and powered-on/read-only, updating the mapping table to map a virtual resource to the new physical target resource, configuring an optimized set of the physical storage resources to be in the powered-on/read-write power status by creating a performance target for the optimized set of the physical storage resources to be in the powered-on/read-write power status, and determining the actual performance of the optimized set of the physical storage resources to be in the powered-on/read-write power status and a first background process which initiates a power-on on at least one of the physical storage resources if the performance target is below a determined current performance and a second background process which initiates a power-off of the at least one of the physical storage resources if the performance target is above the determined current performance.