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Gravitational potential energy is the energy an object has due to its position above Earth, energy due to its height. We know this energy exists because it takes effort to lift an object up to a height and also because when we release an object, it falls, gaining kinetic energy.
Exercise 2: Gravitational potential energy is one of very few forms of energy that can be used for practical energy storage at a very large scale. Very large scale energy storage is required for storing excess electrical energy from wind and solar energy resources so that it can be transferred to the electricity grid at times of peak demand.