The energy associated with objects in motion is called kinetic energy. Any moving object has the potential to do work on something that it hits. Kinetic energy quantifies the amount of work the object could do as a result of its motion.
The formula to calculate the kinetic energy of an object is 1/2 mv^2, where m is the mass and v is the velocity.
Mechanical energy is the sum of the total energy in a closed system; kinetic and potential energy are the main contributors. Potential energy is considered the energy of location; for example, a ball perched on a cliff has a high potential energy due to gravity.