Motivated by the importance of energy consumption in mobile electronics this work describes a methodology developed at ARM for power modeling and energy estimation in complex System-on-Chips (SoCs). The approach is based on developing statistical power models for the system components using regression analysis and extends previous work that has mainly focused on microprocessor cores. The power models are derived from post-layout power-estimation data, after exploring the high-level activity space of each component. The models are then used to conduct an energy analysis based on realistic use cases including web browser benchmarks and multimedia algorithms running on a dual-core processor under Linux. The obtained results show the effects of different hardware configurations on power and energy for a given application and that system level energy consumption analysis can help the design team to make informed architectural trade-offs during the design process.