Does 32GB of DDR4 RAM significantly increase power draw?

No, the difference is usually under 2–3 watts at full load and basically zero at idle. Power consumption scales with frequency, voltage, and memory ranks, not just capacity. Two 16GB sticks use about 1–2W more than two 8GB sticks at the same speed. For context, your CPU and GPU draw far more power, so an extra 2W from RAM is negligible. Buy the capacity you need—more RAM can actually save power by reducing swap usage.