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The formula for calculating Potential energy is P.E. = m * g * h, where 'm' is the mass of an object, 'g' is the acceleration of gravity, 'h' is the height of the object. 1  Stored mechanical energy: The energy which is possessed by an object due to its stored energy of position. 2  E.g., rubber bands, springs.
Kinetic energy vs. Potential energy Energy is the ability to do work. Objects can have stored, or potential, energy when work has been done (such as raising an object in the air) or by virtue of their position (such as sitting at the top of a hill).