A kinetic energy recovery system (KERS) for a machine having a swing motor and/or an actuator includes a hydraulic motor/pump that can output pressurized fluid for operating at least one of: the swing motor and the actuator. A first shaft of the hydraulic motor/pump can be rotated by fluid returning from at least one of: the swing motor and the actuator back to the hydraulic motor/pump. Further, the KERS also includes a flywheel that can selectively couple with the first shaft with the help of a first clutch. The flywheel stores drive power generated by the hydraulic motor/pump from the return flow of fluid when the first clutch couples the flywheel with the first shaft of the hydraulic motor/pump. A gearing arrangement is coupled to the flywheel and can selectively engage with a second shaft associated with a prime mover of the machine with the help of a second clutch.