Write a short paragraph describing the role of all four types of lipids: fats, phospholipids, waxes, and steroids.

Fats store energy, provide insulation and protect our vital organs. Phospholipids are an essential component of the cell membrane and play a key role in controlling the entry and exit of molecules and ions. Waxes are produced by many organisms as a protective layer against the outside environment, and can be used for example providing waterproofing to bird feathers. Steroids have various functions for maintaining homeostasis within organisms.