This paper proposes a framework for modeling the instantaneous power consumption of individual elevators and elevator groups based on passenger traffic. Though elevators have a key role in the modern urban society, they have remained as rather neglected appliances in the energy efficiency research. To accelerate the energy efficiency studies of elevators, this paper has two major contributions. First, we propose means to model the instantaneous power consumption of individual elevators and elevator groups and analyze the reliability of these means versus the complexity of the modeling. Second, we present an elevator group control scheme to organize the elevator dispatching according to the simulated passenger traffic. When combined, these methods yield enhanced predictions about the energy and power consumption of elevators in a specific type of building with measured or simulated movement of occupants.