We present an overview of recent advances in the study of energy dynamics and mechanisms for energy conversion in qubit systems with special focus on realizations in superconducting quantum circuits. We briefly introduce the relevant theoretical framework to analyze heat generation, energy transport and energy conversion in these systems with and without time-dependent driving considering the effect of equilibrium and non-equilibrium environments. We analyze specific problems and mechanisms under current investigation in the context of qubit systems. These include the problem of energy dissipation and possible routes for its control, energy pumping between driving sources and heat pumping between reservoirs, implementation of thermal machines and mechanisms for energy storage. We highlight the underlying fundamental phenomena related to geometrical and topological properties, as well as many-body correlations. We also present an overview of recent experimental activity in this field.