The level at which a parcel becomes saturated. It is a reasonable estimate of cloud base height when parcels experience forced ascent.
In the figure to the right, the LCL occurs at 2000m.
The level at which a lifted parcel becomes warmer than its environment and begins a free acceleration upward to the equilibrium level.
The level at which a lifted parcel becomes cooler than the environmental temperature and is no longer buoyant (i.e., no longer unstable). The EL is used primarily to estimate the height of a thunderstorm anvil.
The area between the LFC and the EL represents the fuel available for a developing thunderstorm.