Endowed with context-awareness and proactive capabilities, caching users’ content locally at the edge of the network is able to cope with increasing data traffic demand in 5G wireless networks. In this work, we focus on the energy consumption aspects of cache-enabled wireless cellular networks, specifically in terms of area power consumption (APC) and energy efficiency (EE). We assume that both base stations (BSs) and mobile users are distributed according to homogeneous Poisson point processes (PPPs) and we introduce a detailed power model that takes into account caching. We study the conditions under which the area power consumption is minimized with respect to BS transmit power while ensuring a certain quality of service (QoS) in terms of coverage probability. Furthermore, we provide the optimal BS transmit power that maximizes the area spectral efficiency per unit total power spent. A key result of our work is that caching is an energy efficient solution.