We develop a $^*$-continuous Kleene $\omega$-algebra of real-time energy functions. Together with corresponding automata, these can be used to model systems which can consume and regain energy (or other types of resources) depending on available time. Using recent results on $^*$-continuous Kleene $\omega$-algebras and computability of certain manipulations on real-time energy functions, it follows that reachability and Büchi acceptance in real-time energy automata can be decided in a static way which only involves manipulations of real-time energy functions.