It has been known for a while that apps running in dark mode/theme or night mode consume less battery on smartphones with OLED displays. It’s is correct for Android and iOS(iPhones) too.
The reason behind this is that when the dark mode is applied then each pixel will have to perform less amount of work to display true black colors which results in a little or no battery consumption.
However, it looks like that the company has recognized the value of dark mode and it has already introduced it to two of its apps which includes YouTube and Android Messages and soon dark mode feature will also be coming to Google’s Phone app.
There is dark theme available in Android but as of yet, it is available only for the app drawer and quick settings pulldown. As for system-wide dark mode, there is no clue on when it will be coming to Android.
If you are a user who wants to conserve the battery of their smartphone then you should use the dark mode in the apps which offer it such as YouTube, Twitter.