Lipid means fat. Lipids are chemical substances that are insoluble in water and are soluble in alcohol, ether, and chloroform. Lipids are vital components of living cells. Together with carbohydrates and proteins, lipids are the chief constituents of plant and animal cells.
Cholesterol and triglycerides are some examples of lipids. Lipids are easily stored in the body. They serve as a source of energy and are an important constituent of the structure of cells.
Few examples of Lipids include fatty acids, neutral fats, waxes and steroids (like cortisone). Compound lipids are the lipids combined with another type of chemical compound and they include the lipoproteins, glycolipids and phospholipids.