A previous study has shown that the thermal damage of the Joule thermal arc heat transfer model is lighter than that of a natural lightning strike. Therefore, this paper focuses on the return stroke current and proposes an improved experimental method of simulated return damage without using arc-inducing wire. Combining the data with the inversion model of injected energy, the energy transfer characteristics of the samples are characterized. Furthermore, a data dimensionality reduction method based on multiple correlation coefficients is used to discuss the impact of the current peak/rise rate/wave tail time on the injected energy discrepancy. The results indicate a positive correlation between the current peak and current rise rate with the injected energy discrepancy. When the tail time exceeds 15 microseconds, the injected energy discrepancy decreases as the tail time increases. The thermal source characteristics of energy transfer during the return stroke process are determined. During the initial phase of the return stroke current, interfacial energy transfer includes contributions from ion enthalpy flux, Joule heating, and electronic enthalpy flux. When the tail time exceeds 15 microseconds, the contribution of ion enthalpy flux to the injected energy diminishes with increasing tail time.