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YEs. If your network is large and/or you have a large number of network boards, it may not be a good idea to power them all over 24 gauge network wire. So many people will use small REGULATED power supplies located near clusters of network boards or even individual boards. The only requirement here is that there be an electrical outlet near the network boards requiring power.
The one thing you should ensure you do is have a common ground between your network boards. RS-485 networks do not function well if the grounds are isolated. This can also make the network susceptable to lightening damage.
Note you may need to be careful about tying the grounds of AC connected power supplies together! Ensure that the grounds of the power supplies are isolated from the AC power line by transformers or are tied to chassis ground (NOT neutral)
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