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Therefore, Lipids are not soluble in water but are soluble in nonpolar solvents (ex: benzene and chloroform). Lipids have several functions in biology. Digestion of triglycerides yields glycerol and fatty acids, which are subsequently used as fuel.ipids belong to a family of organic compounds which includes fats, oils, waxes, cholesterol, phospholipids, steroids, and fat-soluble vitamins (A, D, E, and K). They are formed by either or both carbanion-based condensation of thioesters and carbocation-based condensation of isoprene units.
How are lipids formed? A: Lipids are organic compounds that can include substances, such as fats, waxes, phospholipids and steroids. Depending on the type of lipid formed, it can consist of different combinations of molecules including fatty acids, glycerol and phosphate group. Triglycerides, which are a type of fat, are made up of three fatty acids and one glycerol molecule, while phospholipids consist of two fatty acids, one glycerol molecule and a phosphate group.