Rest mass energy is the energy contained within an object due to its mass when it is at rest. This concept is rooted in Einstein's mass-energy equivalence principle, expressed by the famous equation $$E=mc^2$$, where 'E' represents energy, 'm' is rest mass, and 'c' is the speed of light in a vacuum. Rest mass energy illustrates how mass can be converted into energy, which has significant implications in various applications like nuclear reactions and particle physics.