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| x                                            | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934  |
|----------------------------------------------|-------------------------------------------------------------------------------------------|
|                                         |                                                                                      |
| For the quarterly period ended June 30, 2009 |
| or                                           |
|                                         |                                                                                      |
| o                                            | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

| Delaware                                                      |   | 22-3437351                           |
|---------------------------------------------------------------|--------|--------------------------------------|
| (State of Other Jurisdiction ofIncorporation or Organization) |   | (I.R.S. Employer Identification No.) |

| 1314 King Street, Wilmington, DE         |   | 19801      |
|------------------------------------------|--------|------------|
| (Address of Principal Executive Offices) |   | (Zip Code) |

|   | (302) 888-7444                                         |   |
|--------|--------------------------------------------------------|--------|
|   | (Issuer’s Telephone Number, Including Area Code) |   |

|   | Not Applicable                                                                     |   |
|--------|------------------------------------------------------------------------------------|--------|
|   | (Former name, former address and former fiscal year, if changed since last report) |   |

| Large accelerated filer  o | Accelerated filer  o | Non-accelerated filer  o            | Smaller reporting company  x |
|--------------------------------------|--------------------------------|-----------------------------------------------|----------------------------------------|
|                                 |                           | (Do not check if a smaller reporting company) |

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| PART I.  | FINANCIAL INFORMATION | Page                                                                                        |
|---------------|-----------------------|---------------------------------------------------------------------------------------------|
|          |                  |                                                                                        |   |
|          | Item 1.               | Financial Statements                                                                        | 1 |
|          |                  |                                                                                        |   |
|          | Item 2.               | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 9 |
|          |                  |                                                                                        |   |
|          | Item 3.               | Quantitative and Qualitative Disclosures About Market Risk                                  | 10 |
|          |                  |                                                                                        |   |
|          | Item 4.               | Controls and Procedures                                                                     | 10 |
|          |                  |                                                                                        |   |
| PART II.      | OTHER INFORMATION     |                                                                                        |
|          |                  |                                                                                        |   |
|          | Item 1.               | Legal Proceedings                                                                           | 10 |
|          |                  |                                                                                        |   |
|          | Item 1A.              | Risk Factors                                                                                | 11 |
|          |                  |                                                                                        |   |
|          | Item 2.               | Unregistered Sales of Equity Securities and Use of Proceeds                                 | 11 |
|          |                  |                                                                                        |   |
|          | Item 3.               | Defaults Upon Senior Securities                                                             | 11 |
|          |                  |                                                                                        |   |
|          | Item 4.               | Submission of Matters to a Vote of Security Holders                                         | 11 |
|          |                  |                                                                                        |   |
|          | Item 5.               | Other Information                                                                           | 11 |
|          |                  |                                                                                        |   |
|          | Item 6.               | Exhibits                                                                                    | 11 |
|          |                  |                                                                                        |   |
| SIGNATURES    | 12                    |

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| RIDGEWOOD ELECTRIC POWER TRUST V                                                                                           |   |
|----------------------------------------------------------------------------------------------------------------------------|--------|
| CONDENSED CONSOLIDATED STATEMENTS OF NET ASSETS                                                                            |   |
| (Liquidation Basis)                                                                                                        |   |
| (in thousands)                                                                                                             |   |
|                                                                                                                       |   |
|                                                                                                                       |   | June 30, |   |   | December 31, |   |
|                                                                                                                       |   | 2009 |   |   | 2008 |   |
|                                                                                                                       |   | (unaudited) |   |   |   |   |
| ASSETS                                                                                                                     |   |   |   |   |   |   |
| Current assets:                                                                                                            |   |   |   |   |   |   |
|      Cash and cash equivalents                                                                    |   | $ | 6,366 |   |   | $ | 14,734 |   |
|      Unbilled receivables                                                                         |   |   | - |   |   |   | 466 |   |
|      Due from affiliates                                                                          |   |   | 380 |   |   |   | 3,148 |   |
|      Deposits                                                                                     |   |   | - |   |   |   | 2,243 |   |
|      Prepaid expenses and other current assets                                                    |   |   | 115 |   |   |   | 264 |   |
|                  Total current assets |   |   | 6,861 |   |   |   | 20,855 |   |
| Investments                                                                                                                |   |   | 5,529 |   |   |   | 5,410 |   |
|                                                                                                                       |   |   |   |   |   |   |   |   |
|                 Total assets               |   | $ | 12,390 |   |   | $ | 26,265 |   |
|                                                                                                                       |   |   |   |   |   |   |   |   |
| LIABILITIES AND NET ASSETS                                                                                                 |   |   |   |   |   |   |   |   |
| Current liabilities:                                                                                                       |   |   |   |   |   |   |   |   |
|       Accounts payable and accrued expenses                                                  |   | $ | 1,761 |   |   | $ | 4,465 |   |
|       Due to affiliates                                                                      |   |   | 93 |   |   |   | 184 |   |
|                                                                                                                       |   |   |   |   |   |   |   |   |
| Total liabilities                                                                                                          |   | $ | 1,854 |   |   | $ | 4,649 |   |
|                                                                                                                       |   |   |   |   |   |   |   |   |
| Net assets in liquidation                                                                                                  |   | $ | 10,536 |   |   | $ | 21,616 |   |

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| RIDGEWOOD ELECTRIC POWER TRUST V                                       |   |
|------------------------------------------------------------------------|--------|
| CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS             |   |
| (Liquidation Basis)                                                    |   |
| (unaudited, in thousands, except per share data)                       |   |
|                                                                   |   |   |   |
| Net assets in liquidation, December 31, 2008                           |   | $ | 21,616 |   |
| Distribution to shareholders                                           |   |   | (10,728 | ) |
| Investment income in unconsolidated entities                           |   |   | 19 |   |
| Adjustment to liquidation accruals                                     |   |   | (86 | ) |
| Other changes in working capital components, net                       |   |   | (96 | ) |
| Net assets in liquidation, March 31, 2009                              |   |   | 10,725 |   |
|                                                                   |   |   |   |   |
| Investment income in unconsolidated entities                           |   |   | 158 |   |
| Settlement of litigation                                               |   |   | (260 | ) |
| Other, net                                                             |   |   | (87 | ) |
|                                                                   |   |   |   |   |
| Net assets in liquidation, June 30, 2009                               |   | $ | 10,536 |   |
|                                                                   |   |   |   |   |
| Distributions per Investor Share during six months ended June 30, 2009 |   | $ | 11,500 |   |

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| RIDGEWOOD ELECTRIC POWER TRUST V                       |   |
|--------------------------------------------------------|--------|
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS        |   |
| (Going Concern Basis)                                  |   |
| (unaudited, in thousands, except per share data)       |   |
|                                                   |   |   |   |   |   |   |
|                                                   |   | Six Months Ended |   |   | Three Months Ended |   |
|                                                   |   | June 30, 2008 |   |   | June 30, 2008 |   |
| Operating expenses:                                    |   |   |   |   |   |   |
| General and administrative expenses                    |   | $ | 908 |   |   | $ | 221 |   |
| Management fee to Managing Shareholder                 |   |   | 1,166 |   |   |   | 583 |   |
|      Total operating expenses |   |   | 2,074 |   |   |   | 804 |   |
|                                                   |   |   |   |   |   |   |   |   |
| Loss from operations                                   |   |   | (2,074 | ) |   |   | (804 | ) |
|                                                   |   |   |   |   |   |   |   |   |
| Other income:                                          |   |   |   |   |   |   |   |   |
| Equity in income of Maine Hydro                        |   |   | 850 |   |   |   | 313 |   |
| Equity in income of NEH                                |   |   | 61 |   |   |   | 70 |   |
| Equity in income of US Hydro                           |   |   | 131 |   |   |   | 100 |   |
| Equity in income of Indeck Maine                       |   |   | 524 |   |   |   | 616 |   |
| Interest income, affiliates                            |   |   | 264 |   |   |   | 120 |   |
|     Total other income             |   |   | 1,830 |   |   |   | 1,219 |   |
|                                                   |   |   |   |   |   |   |   |   |
| Net (loss) income                                      |   | $ | (244 | ) |   | $ | 415 |   |
|                                                   |   |   |   |   |   |   |   |   |
| Managing Shareholder - Net (loss) income               |   | $ | (2 | ) |   | $ | 4 |   |
| Shareholders - Net (loss) income                       |   |   | (242 | ) |   |   | 411 |   |
| Net (loss) income per Investor Share                   |   |   | (259 | ) |   |   | 440 |   |
| Distributions per Investor Share                       |   |   | 1,500 |   |   |   | 750 |   |

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| RIDGEWOOD ELECTRIC POWER TRUST V               |   |
|------------------------------------------------|--------|
| CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS |   |
| (Going Concern Basis)                          |   |
| (unaudited, in thousands)                      |   |
|                                           |   |   |   |
|                                           |   | Six Months Ended |   |
|                                           |   | June 30, 2008 |   |
| Cash flows from operating activities:          |   |   |   |
| Net cash used in operating activities          |   | $ | (903 | ) |
|                                           |   |   |   |   |
| Cash flows from financing activities:          |   |   |   |   |
| Cash distributions to shareholders             |   |   | (1,400 | ) |
|                                           |   |   |   |   |
| Net decrease in cash and cash equivalents      |   |   | (2,303 | ) |
| Cash and cash equivalents, beginning of period |   |   | 6,892 |   |
|                                           |   |   |   |   |
| Cash and cash equivalents, end of period       |   | $ | 4,589 |   |

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|                                        |   | Six Months Ended June 30, |   |   | Three Months Ended June 30, |   |
|---------------------------------------------|--------|---------------------------|--------|--------|-----------------------------|--------|
|                                        |   | 2009                      |   |   | 2008                        |   |   | 2009 |   |   | 2008 |   |
|                                        |   |                      |   |   |                        |   |   |   |   |   |   |   |
| Revenues                                    |   | $                         | 1,575  |   |                        | $      | 3,174 |   |   | $ | 772 |   |   | $ | 1,355 |   |
|                                        |   |                      |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |
| Gross profit                                |   |                      | 502    |   |                        |   | 1,862 |   |   |   | 171 |   |   |   | 701 |   |
|                                        |   |                      |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |
| (Loss) income from operations               |   |                      | (184   | )      |                        |   | 1,699 |   |   |   | 31 |   |   |   | 626 |   |
|                                        |   |                      |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |
| Net (loss) income                           |   |                      | (184   | )      |                        |   | 1,699 |   |   |   | 31 |   |   |   | 626 |   |
|                                        |   |                      |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |
| Trust share of (loss) income in Maine Hydro |   |                      | (92    | )      |                        |   | 850 |   |   |   | 15 |   |   |   | 313 |   |

|                         |   | Six Months Ended June 30, |   |   | Three Months Ended June 30, |   |
|------------------------------|--------|---------------------------|--------|--------|-----------------------------|--------|
|                         |   | 2009                      |   |   | 2008                        |   |   | 2009 |   |   | 2008 |   |
|                         |   |                      |   |   |                        |   |   |   |   |   |   |   |
| Revenues                     |   | $                         | 5,947  |   |                        | $      | 5,540 |   |   | $ | 3,338 |   |   | $ | 3,151 |   |
|                         |   |                      |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |
| Gross profit                 |   |                      | 2,186  |   |                        |   | 1,934 |   |   |   | 1,312 |   |   |   | 1,191 |   |
|                         |   |                      |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |
| Income from operations       |   |                      | 1,038  |   |                        |   | 665 |   |   |   | 760 |   |   |   | 594 |   |
|                         |   |                      |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |
| Net income                   |   |                      | 657    |   |                        |   | 431 |   |   |   | 528 |   |   |   | 493 |   |
|                         |   |                      |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |
| Trust share of income in NEH |   |                      | 92     |   |                        |   | 61 |   |   |   | 75 |   |   |   | 70 |   |

|                              |   | Six Months Ended June 30, |   |   | Three Months Ended June 30, |   |
|-----------------------------------|--------|---------------------------|--------|--------|-----------------------------|--------|
|                              |   | 2009                      |   |   | 2008                        |   |   | 2009 |   |   | 2008 |   |
|                              |   |                      |   |   |                        |   |   |   |   |   |   |   |
| Revenues                          |   | $                         | 2,242  |   |                        | $      | 2,601 |   |   | $ | 1,196 |   |   | $ | 1,568 |   |
|                              |   |                      |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |
| Gross profit                      |   |                      | 1,565  |   |                        |   | 1,284 |   |   |   | 872 |   |   |   | 918 |   |
|                              |   |                      |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |
| Income from operations            |   |                      | 566    |   |                        |   | 466 |   |   |   | 427 |   |   |   | 502 |   |
|                              |   |                      |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |
| Net income                        |   |                      | 605    |   |                        |   | 447 |   |   |   | 233 |   |   |   | 343 |   |
|                              |   |                      |   |   |                        |   |   |   |   |   |   |   |   |   |   |   |
| Trust share of income in US Hydro |   |                      | 177    |   |                        |   | 131 |   |   |   | 68 |   |   |   | 100 |   |

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|                                  |   | Six Months Ended |   |   | Three Months Ended |   |
|---------------------------------------|--------|------------------|--------|--------|--------------------|--------|
|                                  |   | June 30, 2008    |   |   | June 30, 2008      |   |
|                                  |   |             |   |   |               |   |
| Revenues                              |   | $                | 21,165 |   |               | $      | 11,707 |   |
|                                  |   |             |   |   |               |   |   |   |
| Gross profit                          |   |             | 2,660  |   |               |   | 2,138 |   |
|                                  |   |             |   |   |               |   |   |   |
| Income from operations                |   |             | 2,075  |   |               |   | 1,749 |   |
|                                  |   |             |   |   |               |   |   |   |
| Net income                            |   |             | 1,332  |   |               |   | 1,369 |   |
|                                  |   |             |   |   |               |   |   |   |
| Trust share of income in Indeck Maine |   |             | 524    |   |               |   | 616 |   |

|                           |   | Due From |   |   | Due To       |   |
|--------------------------------|--------|----------|--------|--------|--------------|--------|
|                           |   | June 30, |   |   | December 31, |   |   | June 30, |   |   | December 31, |   |
|                           |   | 2009     |   |   | 2008         |   |   | 2009 |   |   | 2008 |   |
|                           |   |     |   |   |         |   |   |   |   |   |   |   |
| Ridgewood Power Management LLC |   | $        | -      |   |         | $      | - |   |   | $ | 55 |   |   | $ | 25 |   |
| Ridgewood Renewable Power LLC  |   |     | -      |   |         |   | 43 |   |   |   | - |   |   |   | - |   |
| Growth Fund                    |   |     | -      |   |         |   | - |   |   |   | - |   |   |   | 121 |   |
| Maine Hydro                    |   |     | -      |   |         |   | - |   |   |   | 38 |   |   |   | 38 |   |
| Trust IV                       |   |     | -      |   |         |   | 2,570 |   |   |   | - |   |   |   | - |   |
| NEH                            |   |     | 380    |   |         |   | 309 |   |   |   | - |   |   |   | - |   |
| Other affiliates               |   |     | -      |   |         |   | 226 |   |   |   | - |   |   |   | - |   |
|                           |   | $        | 380    |   |         | $      | 3,148 |   |   | $ | 93 |   |   | $ | 184 |   |

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| ·   | possible contingent liabilities and risks associated with the dissolution and liquidation of the Trust, including without limitation, proceeds received from the disposition of Trust investments and settlement of the Trust’s liabilities and obligations, |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | the outcome of the matters described in Part I, Item 1, Note 6. “Commitments and Contingencies” of this report, |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------|

| ·   | changes in political and economic conditions, federal or state regulatory structures, |
|--------------------|---------------------------------------------------------------------------------------|

| ·   | government mandates, |
|--------------------|----------------------|

| ·   | the ability of customers to pay for energy received, |
|--------------------|------------------------------------------------------|

| ·   | operational status of generating plants, including mechanical breakdowns, |
|--------------------|---------------------------------------------------------------------------|

| ·   | costs incurred in connection with carrying out the plan of liquidation and dissolution of the Trust, and |
|--------------------|----------------------------------------------------------------------------------------------------------|

| ·   | the actual timing of the completion of the liquidation process, including the timing or terms of any sale of Trust’s assets, and the amount and timing of any liquidating distributions. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Exhibit No. |   | Description                                                                                                                                                                                                                                                           |
|-------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|        |   |                                                                                                                                                                                                                                                                  |
| 31.1        | *      | Certification of Randall D. Holmes, Chief Executive Officer of the Registrant, pursuant to Securities Exchange Act Rule 13a-14(a).                                                                                                                                    |
|        |   |                                                                                                                                                                                                                                                                  |
| 31.2        | *      | Certification of Jeffrey H. Strasberg, Chief Financial Officer of the Registrant, pursuant to Securities Exchange Act Rule 13a-14(a).                                                                                                                                 |
|        |   |                                                                                                                                                                                                                                                                  |
| 32          | *      | Certifications pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of The Sarbanes-Oxley Act of 2002, signed by Randall D. Holmes, Chief Executive Officer of the Registrant, and Jeffrey H. Strasberg, Chief Financial Officer of the Registrant. |

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|                  | RIDGEWOOD ELECTRIC POWER TRUST V |                                  |
|-----------------------|---------------------------------------|---------------------------------------|
|                  |                                  |                                  |   |
|                  |                                  |                                  |   |
| Date: August 13, 2009 | By:                                   | /s/  Randall D. Holmes           |   |
|                  |                                  | Randall D. Holmes                     |   |
|                  |                                  | President and Chief Executive Officer |   |
|                  |                                  | (Principal Executive Officer)         |   |

|                  |   |                                                 |   |
|-----------------------|--------|------------------------------------------------------|--------|
| Date: August 13, 2009 | By:    | /s/  Jeffrey H. Strasberg                       |   |
|                  |   | Jeffrey H. Strasberg                                 |   |
|                  |   | Executive Vice President and Chief Financial Officer |   |
|                  |   | (Principal Financial and Accounting Officer)         |   |

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