A new method is proposed for analyzing energy transformations in reversible and irreversible processes with consideration for the quantity and quality of energy. The focus is on heat-equivalent energy TdS and work-equivalent energy dH - TdS, which are released or accepted by changes of substances. Any energy transformation is evaluated by using the work (alpha) and heat (beta) utilizations. These quantities are evaluated for gas expansion in a turbine, diffusion, chemical reactions, developments of electric potential in a fuel cell, and the Seebeck effect.