Abstract Plasma transport and energy conversion during solar wind‐magnetosphere interactions under northward, southward, and radial interplanetary magnetic fields (IMFs) are examined using three‐dimensional global hybrid simulations. Energy conversion and entry of plasma and energy are weaker when the IMF is northward. After the IMF is southward, the inflow of the electromagnetic energy (the Poynting flux) increases, leading to a loading of magnetic energy. Subsequently, a strong energy conversion occurs from the magnetic field to the plasma, leading to an unloading of the magnetic energy. When the IMF is radial, strong disturbances are formed on the magnetopause, but the total ion flux, energy fluxes, and energy conversion are not pronounced. The corresponding ion enthalpy flux and bulk kinetic energy flux are also examined. These analyses allow precise and quantitative evaluations of various space weather effects.