A methodology to estimate the power dissipation of an end-user application on the Register Transfer Level (RTL) model of the target SoC platform is presented. Advanced Driving Assistance System (ADAS) of a vehicle is used as a case-study for the presented methodology. The methodology uses hybrid RTL simulation and emulation to run the heterogeneous automotive system. The methodology allows Software and Model to be included in the simulation Loop (known as Software and Model in the Loop, SiL and MiL, respectively). Virtual sensors provide a representation for the basic components of ADAS (allowing MiL). Virtualizing the system including support for the communication protocol and devices is also presented. The methodology allows simulating multiple Electronic Control Units (ECUs). The ECUs communicate using virtual buses and they are synchronized. The framework simulates/emulates real system including real Software (SW) to run on RTL model for the ECUs. It allows Co-development of the automotive system SW and HW including the mechanical parts. Power dissipation of real SW is estimated while running the target Operating System (OS) on the RTL. Power is also determined using real board to compare the power estimate with the actual power dissipation.