Develop a detailed, step-by-step procedure for performing an electrical lockout/tagout (LOTO) when conducting maintenance on an industrial motor control panel. Additionally, explain the safety importance of each step in minimizing hazardous energy risks. Ensure to reference applicable regulatory standards.

1. Preparation for Shutdown:
- Identify all sources of hazardous energy.
- Notify affected employees of the shutdown.
- Safety Importance: Ensures all personnel are aware of maintenance activities and potential risks.

2. Shutdown the Equipment:
- Follow the established procedure to turn off the motor control panel.
- Safety Importance: Prevents accidental start-up during maintenance.

3. Isolation of Energy Sources:
- Disconnect the motor control panel from all energy sources, such as electricity, hydraulic, and pneumatic systems.
- Safety Importance: Ensures no energy can reach the equipment.

4. Apply Lockout/Tagout Devices:
- Apply lockout devices to each energy-isolating device and attach a tag that indicates the equipment is under maintenance.
- Safety Importance: Provides a visible and physical barrier to prevent re-energization.

5. Release Stored Energy:
- Discharge any stored energy in the system, such as capacitor discharge or residual pressure.
- Safety Importance: Eliminates any remaining hazardous energy.

6. Verification of Isolation:
- Verify that the equipment is completely de-energized by testing the motor control panel with appropriate testing instruments.
- Safety Importance: Confirms that there is no electrical energy present.

7. Perform Maintenance:
- Conduct the necessary maintenance or repair work.
- Safety Importance: Allows maintenance to be done safely without risk of energy exposure.

8. Remove Lockout/Tagout Devices:
- Ensure all tools are removed, all personnel are clear, and then remove the lockout/tagout devices following the established procedure.
- Safety Importance: Ensures the equipment is only returned to service when it is safe.

9. Restart Equipment:
- Notify affected employees that maintenance is complete and restart the equipment as per procedures.
- Safety Importance: Ensures everyone is aware the equipment is back in operation and reduces the risk of accidents.

Reference regulatory standards such as OSHA's Control of Hazardous Energy (Lockout/Tagout) standard, 29 CFR 1910.147, to ensure compliance with safety protocols.

Performing a proper lockout/tagout (LOTO) procedure on an industrial motor control panel is crucial for ensuring the safety of personnel conducting maintenance work. This procedure is designed to minimize the risk of accidental energy release, which can cause injury or death. The following is a step-by-step guide to performing an electrical LOTO, with an explanation of the safety importance associated with each step:

Prepare for Shutdown:
- Before beginning, review the procedure for the specific equipment. Identify the types and magnitudes of energy sources present (such as electrical, mechanical, or hydraulic), and the hazards associated.
- Safety Importance: Understanding the energy types and hazards helps in developing a strategy for safe shutdown and isolation of the specific energy sources.
Notify Affected Employees:
- Inform all affected employees in the area about the shutdown and that LOTO is being implemented.
- Safety Importance: Notification prevents accidents from unintentional start-up or tampering with the equipment while maintenance is ongoing.
Shutdown Equipment:
- Turn off the equipment using the normal stopping procedure, such as pressing the STOP button or turning a switch to the OFF position.
- Safety Importance: Proper shutdown ensures that equipment is in a non-operational state before isolation.
Isolate Energy Sources:
- Disconnect the power source from the control panel by opening the main disconnecting switch and/or removing fuses.
- Safety Importance: Isolation physically separates energy sources from the equipment, ensuring no energy can flow into it.
Apply Lockout Device:
- Attach a lockout device to the disconnect switch or circuit breaker and place an appropriate lock on it. Additionally, attach a tag that indicates maintenance is in progress and the name of the person responsible.
- Safety Importance: Locks provide a physical barrier preventing the re-energization of equipment, while tags communicate critical information to others.
Release Stored Energy:
- Dissipate or restrain any stored residual energy sources such as capacitors.
- Safety Importance: Residual energy can still pose risks, so releasing it ensures complete safety during maintenance.
Verify Isolation:
- Test the equipment to ensure that it is properly de-energized by attempting to start the machine. Also, use a voltage tester to check for the absence of electrical energy.
- Safety Importance: Verification ensures that there is no energy flowing, eliminating any possibility of accidental start-ups.
Perform Maintenance:
- Conduct the necessary maintenance tasks on the delineated equipment.
- Safety Importance: With all safety measures in place, the risk of hazardous energy is minimized.
Remove LOTO Devices:
- Once the maintenance is completed, check the area for tools and replace all guards. Then, remove the lockout devices and re-energize the equipment.
- Safety Importance: Taking off devices should be done by the person who applied them to maintain responsibility and prevent accidents.
Notify Employees:
- Inform all affected personnel that the maintenance is finished and the equipment will be re-energized.
- Safety Importance: Ensures that all employees are aware of equipment status changes, preventing unexpected activations.

This LOTO procedure aligns with OSHA's standard 29 CFR 1910.147, which is set to protect workers from hazardous energy releases. Each step is critical to ensure complete safety during maintenance activities, thereby minimizing the risk of injuries associated with unintentional machinery operations.