Location-based services are one of the demanding applications on mobile devices that account for significant battery usage. In this paper, we evaluate the potential average savings over using approaches such as GPS for localization that can be achieved by (i) using local low-energy mobile node cooperation and/or (ii) additional local infrastructure (fixed) beacon nodes that broadcast their position. Using a random walk simulation approach, we find that significant savings could be attainable; we determine above 20% for 50 nodes in a 100x100 area in the presence of beacons and 18% without. We additionally note that the simulated nodes are able to determine their location fairly accurately within the simulated area. We finally observe that random background refreshes (such as those triggered by other applications) have only little impact on the potential for savings.