In this chapter, we study the concept of energy of bipolar fuzzy graphs and present certain formulae, lower and upper bounds of Laplacian energy, signless Laplacian energy, dominating energy, out-dominating energy, double dominating energy, and double out-dominating energy of bipolar fuzzy graphs and bipolar fuzzy digraphs. We elaborate the presented concept of energy and its extensions with numerical and graphical examples. Using bipolar fuzzy preference relations, we present multicriteria decision-making models based on the energy of bipolar fuzzy graphs in business partnerships and smooth communication problems. The main results of this chapter are from [3,4,14].