Exhibit
31.1





CERTIFICATION





I,
Randall D. Holmes, certify that:





1.
            I have reviewed this report on
      Form 10-Q of Ridgewood Electric Power Trust
  V;





2.
            Based on my knowledge, this
      report does not contain any untrue statement of a material fact or omit to
      state a material fact necessary to make the statements made, in light of
      the circumstances under which such statements were made, not misleading
      with respect to the period covered by this
  report;





3.
            Based on my knowledge, the
      financial statements, and other financial information included in this
      report, fairly present in all material respects the financial condition,
      results of operations and cash flows of the registrant as of, and for, the
      periods presented in this
report;





4.
            The registrant’s other certifying
      officer(s) and I are responsible for establishing and maintaining
      disclosure controls and procedures (as defined in Exchange Act Rules
      13a-15(e) and 15d-15(e))and internal control over
      financial reporting (as defined in Exchange Act Rules 13a-15(f) and
      15d-15(f)) for the registrant and
have:





(a)    
Designed such disclosure controls and procedures, or caused such disclosure
controls and procedures to be designed under our supervision, to ensure that
material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly
during the period in which this report is being prepared;





(b)    
Designed such internal control over financial reporting, or caused such internal
control over financial reporting to be designed under our supervision, to
provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles;





(c)    
Evaluated the effectiveness of the registrant’s disclosure controls and
procedures and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of the end of the period covered
by this report based on such evaluation; and





(d)    
Disclosed in this report any change in the registrant’s internal control over
financial reporting that occurred during the registrant’s most recent fiscal
quarter (the registrant’s fourth fiscal quarter in the case of an annual report)
that has materially affected, or is reasonably likely to materially affect, the
registrant’s internal control over financial reporting; and





5.
            The registrant’s other certifying
      officer(s) and I have disclosed, based on our most recent evaluation of
      internal control over financial reporting, to the registrant’s auditors
      and the audit committee of the registrant’s board of directors (or persons
      performing the equivalent
functions):





(a)    
All significant deficiencies and material weaknesses in the design or operation
of internal control over financial reporting which are reasonably likely to
adversely affect the registrant’s ability to record, process, summarize and
report financial information; and





(b)    
Any fraud, whether or not material, that involves management or other employees
who have a significant role in the registrant’s internal control over financial
reporting.








/s/
      Randall D. HolmesName:
            Randall
      D. HolmesTitle:
            President
      and Chief Executive Officer
              (Principal
      Executive Officer)Dated:
            May
      14, 2008