MasterMace :
The GTX 970 by Tom's own testing peaked between 290 and 300W, the 4790k by Tom's own testing peaked at 350W. I certainly don't want to push a PSU to 100% on measurable performance, and prefer to leave a bit of space for other things people do. An 850W would leave that extra space, and would be sufficient if the OP SLIed 2 GTX 980s.
mate that test was for the whole build not just the card.
typically a 970 i5/i7 build will top out at around 350w
add in another card and your still on you 500-550w max
it really is wise to buy based on minimum and maximum power draw not just the maximum.
the psu efficiency is more of a factor at idle because thats where the pc will spend most of its time when on.
unless you use it solely as a work or game rig and use other devices for other media. your barley gonna be using 60w and bounce to 120 under light load.
most bronze/silver psu's dont hit there efficiency till they get in to the 50%+ which means 400w+ power draw is needed before the psu gets to 80% efficient on an 850wpsu so you can see if the pc tops out at 350w the psu isnt gonna even manage the basic efficiency target of bronze.
while a good gold/platinum 550-650w will hit its efficiency as low as 15%-20% load. so will only need a 100-120w load to reach its 80% efficiency. it may only be a few cents a day difference but over the life of the pc it could save you more than the difference in cost between the 850 and higher end but lower power psu.
there is such a thing as to much psu mate and on this build 850w even for sli would be overkill.
but hey its your money, your choice. im just giving opinion