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NO, if you have motors that are 'convertable' -110 or 220/240, the higher voltage is more economical.

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It costs the same regardless of whether the voltage is 120 or 240 volts. The bonus of using a higher voltage is on the installation wiring costs. At a higher voltage the current of the device is lower. This lower amperage permits a smaller size wire to be used. This only really becomes a cost saving factor in larger equipment. In small power tools the higher voltage range will allow you to double the distance from the supply source to the place where the power tool is needed.

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