Step 1: When drops of liquid coalesce, the total surface area decreases, and this results in the release of energy equal to the change in surface energy.
Step 2: The energy released is proportional to the change in surface area, and using the relationship between surface tension \( \sigma \), radius, and volume, the energy released is:
\[
E = \dfrac{T}{\rho} \left( 1 - \dfrac{1}{R} \right).
\]
Final Answer:
\[
\boxed{\dfrac{T}{\rho} \left( 1 - \dfrac{1}{R} \right)}
\]