Examples are disclosed that relate to allocating power to peripheral device interfaces. One example provides, at a computing device, a method, comprising obtaining a measurement of power consumption by one or more peripheral devices, and based at least on the measurement and on a maximum power tolerance of a power source, allocating to each respective interface a minimum portion of power output from the power source. The method further comprises rendering a remainder of the maximum power tolerance available for consumption by one or more processors, the remainder including the maximum power tolerance minus a sum of the minimum portions, where the remainder and a system portion of power output are available for consumption by the one or more processors, and where a performance attribute of the one or more processors is not throttled while total power consumption does not exceed a threshold power output from the power source.