Will upgrading to 32GB RAM spike my power bill?

Not really. The difference is negligible for most people. RAM draws very little power compared to your CPU or GPU — going from 16GB to 32GB might add 2-5 watts under load, maybe 1 watt at idle, which is less than a nightlight. The real power hogs are the processor, graphics card, and monitor. Unless you’re running a memory-heavy server 24/7, the impact is basically noise.