PSU GPU Recomendation

[Man1ac123]

Hello guys.

I already had a build in my mind but then i checked gigabyte website and looked at the G1 gaming gtx 970 specs and then i saw this "System power supply requirement: 550W(with one 6-pin and one 8-pin external power connectors)". I have a 500w power supply, does this matter?

my build

PCPartPicker part list / Price breakdown by merchant

CPU: Intel Core i5-4690K 3.5GHz Quad-Core Processor ($199.99 @ Micro Center)
CPU Cooler: Cooler Master Hyper 212 EVO 82.9 CFM Sleeve Bearing CPU Cooler ($26.99 @ NCIX US)
Motherboard: Gigabyte GA-Z97P-D3 ATX LGA1150 Motherboard
Memory: G.Skill Ares Series 8GB (2 x 4GB) DDR3-1600 Memory ($49.89 @ OutletPC)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($46.89 @ OutletPC)
Video Card: Gigabyte GeForce GTX 970 4GB WINDFORCE Video Card ($358.89 @ Amazon)
Case: Corsair 200R ATX Mid Tower Case ($59.99 @ Micro Center)
Power Supply: Corsair Builder 500W 80+ Bronze Certified ATX Power Supply ($44.99 @ Newegg)
Total: $787.63
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2015-07-30 14:19 EDT-0400

 

[Dark Lord of Tech]

PCPartPicker part list / Price breakdown by merchant

CPU: Intel Core i5-4690K 3.5GHz Quad-Core Processor ($229.99 @ SuperBiiz)
CPU Cooler: Cooler Master Hyper 212 EVO 82.9 CFM Sleeve Bearing CPU Cooler ($25.98 @ OutletPC)
CPU Cooler: CRYORIG H7 49.0 CFM CPU Cooler ($34.50 @ Newegg)
Motherboard: Gigabyte GA-Z97P-D3 ATX LGA1150 Motherboard
Memory: G.Skill Ares Series 8GB (2 x 4GB) DDR3-1600 Memory ($49.89 @ OutletPC)
Storage: Seagate Barracuda 1TB 3.5" 7200RPM Internal Hard Drive ($46.89 @ OutletPC)
Video Card: Gigabyte GeForce GTX 970 4GB WINDFORCE Video Card ($358.89 @ Amazon)
Case: Corsair 200R ATX Mid Tower Case ($49.99 @ Micro Center)
Power Supply: EVGA SuperNOVA GS 550W 80+ Gold Certified Fully-Modular ATX Power Supply ($63.98 @ Newegg)
Total: $860.11
Prices include shipping, taxes, and discounts when available
Generated by PCPartPicker 2015-07-30 18:02 EDT-0400