The decreasing costs of distributed energy resources and increasing need for flexibility have attracted the attention of many in community energy storage (CES) business. CES, however, is a complex sociotechnical system with a variety of technologies, actors, and interactions. In the changing energy landscape, two pathways for CES, namely, local and virtual, are prominent. The range of technical, economic, environmental, and institutional values differ in these pathways. This chapter analyzes business models of multivalue and multiactor CES and provides recommendations for enabling regulatory and governance conditions.