Device-to-device (D2D) communication is an essential part of the future fifth generation (5G) system that can be seen as “network of networks”, consisting of multiple seamlessly integrated radio access technologies (RATs). Public safety communications, autonomous driving, social-aware networking, and infotainment services are example use cases of D2D technology. High data rate communications and use of several active air interfaces in the described network create energy consumption challenges for both base stations and the end user devices. In this paper, we review the status of 3GPP standardization and define a set of application scenarios. We use the recent models of 3GPP Long Term Evolution (LTE) and WiFi interfaces in analyzing the power consumption both from the infrastructure and user device perspectives. The results indicate that the number of active interfaces should be minimized.