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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.
A: Kinetic and potential energy are both typically ascribed as forms of mechanical energy and can be interchangeably converted. Potential energy can be converted into kinetic energy and vice versa, but the change is always accompanied by the dissipation of some energy as heat.