Embodiments of the present invention provide an approach for optimizing energy consumption utilized for workload processing in a networked computing environment (e.g., a cloud computing environment). Specifically, when a workload is received, an energy profile (e.g., contained in a computerized data structure) associated with the workload is identified. Typically, the energy profile identifies a set of computing resources needed to process the workload (e.g., storage requirements, server requirements, processing requirements, network bandwidth requirements, etc.), energy consumption attributes of the set of computing resources, and a proposed duration of the workload. Based on the information contained in the energy profile (and resource availability) a schedule (e.g., time, location, etc.) for processing the workload will be determined so as to optimize energy consumption associated with the processing of the workload. In a typical embodiment, the schedule will be determined such that a total cost for processing the workload can be minimized and/or to any budgeted amount/costs can be met.