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Elasticity is the ability of a material to return to its original shape after being deformed. It is not a form of energy. Mechanical energy is needed to deform the material which stores this partially as potential (mechanical) energy, some is transformed to heat energy, which dissipates, and some is lost to entropy, as in all energy conversions. When the potential (mechanical) energy is released it can be used to drive an electrical generator to produce electricity, until the material returns to its original shape.

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