"but power supplies usually start tanking efficiency under 20% usage. "
What do you mean by this?
A power supply's efficiency is not linear. If someone says a PSU is 80Plus efficient, that just means it hits 80% (or higher) efficiency at three measure points (IIRC something like 20%/50%/80% at 25°C or something like that). PSUs often have an efficiency "hump" in the middle of the output. That's why the higher 80Plus ratings of Bronze/Silver/Gold measure for that.
Anyways, basically an 80% efficient PSU may have something like 82% efficiency at 50% wattage output, and maybe 75% efficiency past 100% output (near where OCP cuts it off) and maybe 70% efficiency at 10% output. Note that I'm making up these numbers, but they illustrate the fact of how current PSUs operate.
Alright, I had to look it up.
Wikipedia to the rescue. You should hit the link and look at the chart. They measure at 20%/50%/100% output. Note that starting at the Bronze level, 50% output is required to be higher. Gold, for instance, is 87%/90%/87%.
Read this review of an 80Plus Gold unit. Note the low load test at 10% was 80%, but 20% output jumped to around 87% and 50% output was near 90%.