1. A method of thread selection for context switching on a plurality of compute nodes, the method comprising: executing, by a compute node of the plurality of compute nodes, a plurality of threads of execution for an application; predefining power characteristics of each thread available for execution of the application; selecting, by the compute node from the plurality of available threads of execution for the application, a next thread of execution in dependence upon power characteristics for each of the available threads according to a power mode switching algorithm by: determining a current power mode for the compute node while executing a thread of the application, wherein the current power mode comprises a description of a power consumption of the compute node, wherein the power mode switching algorithm specifies that a period of processing in a high power mode is to be followed by a period of processing in a low power mode associated with less power consumption than the high power mode; and selecting, from the available threads of execution, the next thread of execution according to the power mode switching algorithm, the next thread having predefined power characteristics that enable the compute node to enter the low power mode; and executing the selected next thread.