Potential energy is the energy stored within an object because of its position, arrangement, or state. It is the property of a system and not of an individual body or particle. Let's say you dropped a steel ball from high above the ground. The system would be composed of the Earth and the steel ball. This system has more potential energy as the two are separated farther. The greater the amount of potential energy, the more work can be done. There are 3 types of potential energy; elastic potential energy, gravitational potential energy, and chemical potential energy. Elastic potential energy is an object's potential energy due to its shape. It results when an elastic object is stretched or compressed. For example, a stretched rubber band has potential energy because it is plausible that it will return to its original state if it is stretched too much. Next up we have gravitational potential energy. Gravitational potential energy is potential energy due to the position of an object above the Earth's surface. Imagine a diver teetering on the edge of a diving board which towers multiple stories high. The diver has potential energy because she could fall to Earth's surface due to gravity. The formula for gravitational potential energy is GPE= weight times height. Chemical potential energy is the form of potential energy that is contained in chemical bonds. The potential energy contained in the chemical bonds is released when the chemicals are broken apart and form new chemicals. For instance, a cupcake has chemical potential energy because it has energy stored in it and can do work in the future. The energy is released when the cupcake is digested.
Kinetic energy is the energy of moving matter. One example of kinetic energy is a butterfly flying towards a flower because it is moving its wings in order to be able to reach her destination. A roller coaster speeding down a hill is another example because it is in motion as it is coming down the tracks. This ballerina is an example of kinetic energy because she is moving up into the air as she jumps. The unit used for kinetic energy is Joules.