The present embodiments relate to regulating the supply voltage of an integrated circuit. The integrated circuit may implement a circuit design. The circuit design implementation may meet timing constraints with timing margins when operated with the integrated circuit at a nominal supply voltage level. The integrated circuit may further include a voltage identification controller. The voltage identification controller may determine a reduced voltage level based at least on the timing margins such that operating the circuit design implementation with the integrated circuit meets timing constraints. The voltage identification controller may direct a voltage regulator, which may be included in the integrated circuit or located outside the integrated circuit, to reduce the supply voltage level from the nominal supply voltage level to the reduced voltage level, thereby reducing the power consumption of the integrated circuit.