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File cannot be loaded because the execution of scripts is disabled on this system error in PowerShell

Issue:
When you try to run a Powershell script (PS1), you may get the following error:

File testscript.ps1 cannot be loaded because the execution of scripts is disabled on this system.
Please see “get-help about_signing” for more details.

Product Line:
StruxureWare Power Monitoring 7.2.x
Power Monitoring Expert 7.0.1
ION Enterprise 6.0.x
ION EEM

Environment:
SQL Server 2005, SQL Server 2008 R2, SQL Server 2012

Cause:
This error is cause by the security setting on your pc that does not allow you to execute a script. 
By default, the Execution Policy is set to Restricted. The Restricted setting means that you may not run any PS1 script at all.

Resolution:
To change the Execution Policy to Unrestricted, type the following command in PowerShell

Set-ExecutionPolicy Unrestricted

An overview of the policy levels:
Restricted: Individual cmdlets can run, but not saved Powershell scripts. This is the default setting.
AllSigned: Scripts can run, but must have a digital signature even if written on the local computer. Prompts you
                  before running scripts from trusted publishers.
RemoteSigned: Scripts written on the local computer do not need a digital signature, but any script downloaded
                          from outside (email, IM, Internet) must have a signature to execute.
Unrestricted: Any script can run, but scripts downloaded from outside will run with a warning.
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