What are the benefits and drawbacks of sleeping?

Solution 1:

Sleeping will give you the "Well Rested" state, which increases your experience gain by 10%.

It also allows you to skip time in game so you can wait for Supply Routes to set up for the first time or skip ahead to the daylight for the various daylight perks like Solar Powered (or night time perks like Night Person, if you've gone for those).

Solution 2:

In Survival Mode, sleeping allows you to:

• save your game.
• stay healthy (you need to sleep normaly).
• healing Hit Points if you sleep 8 hours.

Downside effects:

• You lose some ranks of your Adrenaline perk.
• You will often wake up thirsty and hungry.