Micron-sized dielectric spheres aggregate to form linear chains on application of an AC electric field. The dipole-dipole attraction is the dominant force in this process. The potential energy of a pair of polystyrene spheres has been experimentally measured. This is done by observing the equilibrium separation between particles held in static optical traps of known trap strength at various electric field intensities. The potential is evaluated for a range of salt concentrations and electric field frequencies. Subsequently the kinetics of “pearl-chain” growth has also been studied under the same conditions. The potential calculated for a pair is then used to predict the aggregation kinetics and comparisons are made with those obtained by solving the Smoluchowski equation. This study helps in validating the potential calculated for a pair and extending the results from pair interaction to those for an ensemble of particles.