Lipids are a broad group of naturally occurring molecules that include fats, oils, waxes, sterols, fat-soluble vitamins, phospholipids and others. They serve important biological functions like energy storage, as structural components of cell membranes, and as signaling molecules. Fats are esters of glycerol and fatty acids that can be solid or liquid depending on their structure. Phospholipids are the major component of cell membranes and are made of glycerol, two fatty acid chains, and a phosphate group. Steroids have a distinctive four-ring structure and include important molecules like cholesterol, bile salts, and hormones.