It's about the efficiency.
Let's say you're getting a 1000W PSU.
A bronze unit will have an efficiency of 81%, meaning at full load the PSU will draw 1190W from your grid to supply 1000W
A platinum PSU has an efficiency of 91%, meaning it will draw 1090W from the grid to supply 1000W
However whilst most platinum units are excellent it ultimately tells you nothing about the quality of a PSU.
There are some gold rated units that can be classified as junk and some bronze rated units that are to be considered excellent.
Depending on your location good cheap choices are:
Seasonic G / S12G /SSRM
Super Flower Golden Green HX
Corsair CXM 450/550 (grey label)
XFX TS
Bitfenix Whisper
Fractal Design Edison M
EVGA B2