Various embodiments of methods and systems for bit flip identification for debugging and/or power management in a system on a chip (“SoC”) are disclosed. Exemplary embodiments seek to identify bit flip occurrences near in time to the occurrences by checking parity values of data blocks as the data blocks are written into a memory component. In this way, bit flips occurring in association with a write transaction may be differentiated from bit flips occurring in association with a read transaction. The distinction may be useful, when taken in conjunction with various parameter levels identified at the time of a bit flip recognition, to debug a memory component or, when in a runtime environment, adjust thermal and power policies that may be contributing to bit flip occurrences.