Power is an ambiguous term. The student could take this question to multiple areas od exploration, such as masculine superiority, female subversion, post-colonialism, marxism, supernatural power, to name but a few. Creating a mind map of these themes would be the beginnings of an excellent thorough analysis of 'The Tempest'. Find below an example paragraph:
Both the characters Caliban and Ariel in Shakespeare's 'The Tempest' represent parts of the central protagonist's, Prospero's, power. Via a psychoanalytical lens we could perceive that Caliban represents the id, the simplistic parts of one's unconscious desires. In Caliban's descriptions as 'brutish' and 'monster' these id-like connotations are highlighted. Furthermore, Ariel therefore represents Prospero's ego. Becoming the clever thoughts that guide Prospero's power, Ariel's ethereal ability to control other characters displays her intellect as the ego. Overall, Caliban and Ariel reflect the two sides of Prospero's unconscious that governs his power and, ultimately, as the isle's self-confessed king, the entire play.