The morphology of a system may be exploited to reduce the controller workload or to perform specific tasks, e.g., locomotion processes. However, understanding and characterizing these capacities in terms of physical quantities remains an open problem. In this paper, we pose the question: are energy and dissipation useful physical quantities to characterize morphological capacities? First, to illustrate the relevance of this question, we present some basic concepts of passivity theory that are useful for carrying out an energy-based analysis of the behavior of dynamical systems. Then, we analyze the behavior of a mechanical system, and we show how its morphology affects its energy. Finally, we present a detailed analysis of a passive walker and explain how its locomotion capacities can be interpreted in terms of energy.