Equations are developed to describe the energetics of atmospheric convection as simulated by a two-dimensional axisymmetric numerical cloud model with parameterized microphysics of the liquid phase. Expressions that are compatible with the Boussinesq cloud model are given for specific energy, energy density, and energy flux at each grid point, and variations in time and space are considered. Energy is subdivided into categories, including kinetic energy, potential energy, thermal enthalpy, and latent enthalpy, so that the relative importance of various cloud properties and processes to the transformation and redistribution of energy can be studied. One of the prime goals of the investigation is to gain better understanding of the ways in which cloud-scale convection in an ensemble of cells affects circulations of larger scale. A description of the use of the energy equations in an actual numerical experiment is given in a companion report.