Methods and systems are provided for estimating a cooling demand of a vehicle powertrain component and selecting a mode of operation of a vehicle cooling system based on the estimated cooling demands of the vehicle powertrain component and the energy usage of the cooling system components. Based on the selected operating mode, each of a radiator fan speed, a coolant system pump output, a vehicle grille shutter opening, and an opening of vents coupled to a powertrain component insulating enclosure may be concurrently adjusted to minimize the cooling parasitic losses while satisfying the cooling requirements of the vehicle.