Currently I do that with my Powershoot and CHDK. There I switch between the recordings in the playback mode which saves a lot of energy.
https://chdk.setepontos.com/index.php?topic=9969.540
Would that be possible with ML?
Yes, but these are only useful if you operate in LiveView. Outside LiveView, i.e. in shooting mode with display off, the power draw is lower than in playback mode with display on (both configurations being available in vanilla firmware).
If you operate in LiveView, check the powersaving menu in ML, or try these in Lua:
camera.gui.play = true
camera.gui.menu = true
camera.gui.menu = false
lv.pause()
lv.resume()
display.off()
display.on()
-- etc, see api_test.lua for more
Some rough power draw measurements
here.
I cannot find the post anymore but with the EOS M3 / M10 there was a function, where you could set the camera for a certain time in standby. Is there something like this with ML?
Canon menu - you could set the camera to
turn off after 30 seconds. It is technically possible to change this timer from ML, but I don't want to get there (had a less than ideal experience when I tried this trick on the 5D3).
Standby - as in pausing DryOS and having the camera react to external events only, like button presses - is something Canon firmware does to save power when you turn off the main display. ML disables this standby mode (otherwise it won't be able to trigger the next image from the intervalometer). This trick reduces the power draw in about half (
click for numbers).
In any case, you are not going to get more than a couple of hours with ML intervalometer, on a LP-E6 battery. Maybe about 10 hours (or about 20 without ML) if the camera really does nothing.
Tip: with an external power adapter, if the power switch is left to "ON", ML intervalometer will auto-start at camera startup, so I had no trouble with power outages during my timelapse attempts (the longest one was for 2 or 3 days).
Another tip: if you use the full-res silent picture option for the timelapse, it comes with powersaving out of the box. Just turn off the image review screen, or set it to 2 seconds. Power draw: same as in regular photo mode, minus the mechanical shutter actuations. Remaining battery time is printed on the screen, during the timelapse (with LP-E6 batteries).