A quantitative study on the energetics of the solar wind-magnetosphere-ionosphere system during High-Intensity, Long-Duration, Continuous AE Activity (HILDCAA) events for solar cycle 23 (from 1995 through 2008) is presented. For all HILDCAAs, the average energy transferred to the magnetospheric/ionospheric system was~6.3 × 10 16 J, and the ram kinetic energy of the incident solar wind was~7.1 × 10 18 J. For individual HILDCAA events the coupling efficiency, defined as the ratio of the solar wind energy input to the solar wind kinetic energy, varied between 0.3% and 2.8%, with an average value of~0.9%. The solar wind coupling efficiency for corotating interaction region (CIR)-driven storms prior to the HILDCAA events was found to vary from~1% to 5%, with an average value of~2%. Both of these values are lower than the > 5% coupling efficiency noted for interplanetary coronal mass ejection (and sheath)-driven magnetic storms. During HILDCAAs,~67% of the solar wind energy input went into Joule heating,~22% into auroral precipitation, and~11% into the ring current energy. The CIR-storm Joule heating (~49%) was noticeably less than that during HILDCAAs, while the ring current energies were comparable for the two. Joule dissipation was higher for HILDCAAs that followed CIR-storms (88%) than for isolated HILDCAAs (~60%). Possible physical interpretations for the statistical results obtained in this paper are discussed.