An increasing number of households is connected to the Internet via DSL or cable, for which home gateways are required. The optimization of these -caused by their large number -is a promising area for energy efficiency improvements. Since no power models for home gateways are currently available, the optimization of their power state is not possible. This paper presents PowerPi, a power consumption model for the Raspberry Pi which is used as a substitute to conventional home gateways to derive the impact of typical hardware components on the energy consumption. The different power states of the platform are measured and a power model is derived, allowing to estimate the power consumption based on CPU and network utilization only. The proposed power model estimates the power consumption resulting in a RMSE of less than 3.3%, which is slightly larger than the maximum error of the measurements of 2.5%.