Methods and apparatuses are provided for analyzing energy consumption of at least one storage system capable of being used by multiple users. The storage system includes a plurality of electric energy consuming components which further includes at least a plurality of storage devices adapted to cooperate with storage media for storing data. At least one component energy meter is capable of measuring component energy consumption of at least one of the electric energy consuming components while the storage system is in operational use. At least one storage system energy meter is adapted to cooperate with the storage system to measure total energy consumption of the storage system while the storage system is in operational use.