Aortic valve (AV) stenosis, if untreated, leads to heart failure. From a mechanics standpoint, heart failure can be interpreted as the failure of the heart to generate sufficient power to overcome energy losses in the circulation. Thus, energy efficiency-based measures for evaluating AV performance and disease severity have the advantage of being a direct measure of the contribution of the AV hydrodynamic characteristics toward heart failure. We present a new method for computing the rate of energy dissipation as a function of systolic time, by modifying the Navier–Stokes momentum equation. This method preserves the dynamic term of the Navier–Stokes momentum equation, and allows the investigation of the trend of the rate of energy dissipation over time. This method is applied to a series of in vitro experiments, where a trimmed porcine valve is exposed to various conditions: varying stroke volumes (50 ml to 90 ml) at the fixed heart rate; varying heart rates (60–80 beats/min) at fixed stroke volume; and varying stenosis levels (normal, mild stenosis, moderate stenosis). The results are: (1) energy dissipation waveform has a distinctive pattern of being skewed toward late systole, due to flow instabilities during deceleration phases; (2) increasing heart rate and stroke volume increases energy dissipation, but the normalized shape of the energy dissipation waveform is preserved across heart rates and stroke volumes; (3) increasing stenosis level increases energy dissipation, and also alters the normalized shape of the energy dissipation waveform. Since stenosis produces a signature energy dissipation waveform shape, dynamic energy dissipation analysis can potentially be extended into a clinical tool for AV evaluation.