The energy possessed by a object by virtue of its position or its configuration is called its potential energy.
Concept of potential energy is valid only in conservative field. In conservative force field when a object moves on a round trip then its kinetic energy will not change. But if we assume a point B on the path, then at point B, its kinetic power will not be equivalent as at point A. (Let K.EB < K.EA), we may say that this changes in kinetic energy has stored in configuration of system and this kept energy is known as potential energy of system