Potential Energy is the energy of

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an object or system due to its position or condition. It is stored energy that has the potential to be converted into other forms of energy.

Potential energy can exist in several forms including:

- Gravitational potential energy: This is the energy stored in an object due to its height above the ground. The higher an object is from the ground, the more gravitational potential energy it possesses. This type of potential energy is commonly seen in situations involving objects raised or lifted against the force of gravity, such as a book on a shelf or a rock poised at the top of a hill.

- Elastic potential energy: This is the energy stored in a stretched or compressed elastic material, such as a spring or a rubber band. When an elastic material is stretched or compressed, it stores potential energy that can be released when the material returns to its original shape. This type of potential energy is commonly observed in objects like a stretched rubber band or a coiled spring.

- Chemical potential energy: This is the energy stored in chemical bonds. It is the potential energy that can be released during a chemical reaction. This type of potential energy is commonly seen in substances like gasoline, food, or batteries, where the energy is released through combustion or chemical reactions.

In summary, potential energy is the energy that an object or system possesses due to its position, condition, or the forces acting on it. It can be converted into other forms of energy, such as kinetic energy, thermal energy, or electrical energy, depending on the specific circumstances.