Energy efficiency is becoming increasingly important in high-performance computing. Hardware and software tools that enable fine-grained measurement of power for real applications can help understand the power attributes of application components. This paper introduces new software infrastructure based on the WattProf measurement hardware that enables high-resolution, per-component power measurements. We demonstrate this new infrastructure by analyzing the power, and energy efficiency of the the MiniFE proxy application built with different optimization levels. We create models that can be used to guide power-aware optimizations.