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Potential energy is a stored energy due to the gravity and height above the ground. In physics the formula for potential energy is:

PE = mgy

where m = mass (kg), g = acceleration due to gravity (m/s^2), y = height (m)

What if there is no height?

Well, by simply letting y = 0 and multiplying 0 to m and g, we get PE = 0. Therefore potential energy does not exist and shows it is only present when the object has a height above the ground.

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