1. Potential energy is energy stored in an object due to its position or state. It is considered energy at rest. 2. Gravitational potential energy depends on an object's mass and height, and can be calculated as GPE = mgh, where m is mass, g is acceleration due to gravity, and h is height. 3. Chemical potential energy is energy stored in chemical bonds. The law of conservation of energy states that energy cannot be created or destroyed, only changed from one form to another.