Abstract: Systems and methods for estimating power consumption in a network of computing devices are described. Operational information of a target server is periodically received and compared to benchmark data of a model of the target server. The operational information comprises performance data of the target server during a predefined time interval. Power consumption of the target server is estimated using the performance and benchmark data. The benchmark data is recalibrated if an error in the estimated power consumption is detected. An agent installed on the target server for collecting performance data is described. The target server can be a virtualized server, in which case, the agent acquires at least some of the performance data from a hypervisor of a physical server that hosts the target server.