In this letter, we investigate the spectral efficiency of IEEE 802.22 wireless regional area network (WRAN) spectrum overlay when it is used in TV white space. Since 2004, when the FCC published the notice of proposed rule making 04-186 to make use of unused TV spectrum, the IEEE 802.22 working group has been standardizing specifications for WRAN operations. There have been a few papers investigating the spectral efficiency of this, but their analyses were limited to the cases for various guard distances between WRAN base stations. Since WRAN base station (BS) power for WRAN service may differ from country to country, it is important to analyze the spectral efficiency for various WRAN BS powers. In this letter, we analyze the spectral efficiency of WRAN spectrum overlay as a function of the power of WRAN BSs. The simulation results show that spectral efficiency decreases as the power of WRAN BSs and guard distances increase.