The ability to manipulate the refractive index is a fundamental principle underlying numerous photonic devices. Various techniques exist to modify the refractive index across diverse materials, making performance comparison far from straightforward. In evaluating these methods, power consumption emerges as a key performance characteristic, alongside bandwidth and footprint. Here a comprehensive comparison of the energy and power requirements for the most well‐known index change schemes is undertaken. The findings reveal that while the energy per volume for index change remains within one or two orders of magnitude across different techniques and materials, the power consumption required to achieve switching, 100% modulation, or 100% frequency conversion can differ significantly, spanning many orders of magnitude. As it turns out, the material used has less influence on power reduction than the specific resonant or traveling wave scheme employed to enhance the interaction time between light and matter. Though this work is not intended to serve as a design guide, it does establish the limitations and trade‐offs involved in index modulation, thus providing valuable insights for photonics practitioners.