Let G be graph with vertex set V(G) and edge set E(G) and the set A={0,1}. A mapping is called binary vertex labeling of G and l(v) is called the label of the vertex v under l. In this paper we introduce a new kind of graph energy for the binary labeled graph, the labeled graph energy. It depends on the underlying graph G and on its binary labeling; upper and lower bounds for are established. The label energies of some families of graphs are computed.