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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.
Potential energy is energy stored in an object due to its position or arrangement. Kinetic energy is energy of an object due to its movement-its motion. All types of energy can be transformed into other types of energy. This is true for potential and kinetic energy as well. Potential energy can be converted into kinetic energy, and kinetic energy can be converted into potential energy.