There are numerous ways to slow it, yes. Augments, crew members, EPPs, and various other means.

Even easier is eating: food is plentiful and staying fed is a mere double-click away! If you are a carnivore you can even subsist entirely off murder as you explore without the need to even cook it.

What race did you pick? Some will be hungrier than others, especially if you use their racial abilities a lot since they will subtract from food , and only once that is low *then* energy.

Double click? I have to hotbar food one piece at a time. And again I just want that timer to last longer. I don't want it removed or anything, just to tweak it to make it less of a hassle.

I don't know about you; but try playing as an Avali.
♥♥♥♥♥♥♥♥♥ dude. They burn through energy. THEY EAT.
I don't know about the other races burn rates; but the racial ability of the star-raptors is too useful to not make use of at almost all times due to ease of traversal

...which makes them ravenous little buggers.