I'm not an expert, but my layman's understanding is that the lower sizes and new production techniques decrease power consumption.
The price of ongoing power consumption probably dwarfs the price of the chip itself in terms of cost of ownership in most cases.
E.g. an i7 draws 65W at idle, or about 1.5kWh/day. That's ~$0.20/day where I live, about $6/month or $36/year. Max draw is ~4x that. I've probably paid more in power to run my CPU than I paid for the CPU itself.
The price of ongoing power consumption probably dwarfs the price of the chip itself in terms of cost of ownership in most cases.
E.g. an i7 draws 65W at idle, or about 1.5kWh/day. That's ~$0.20/day where I live, about $6/month or $36/year. Max draw is ~4x that. I've probably paid more in power to run my CPU than I paid for the CPU itself.