UNITED STATES    
    
                     SECURITIES AND EXCHANGE COMMISSION    
    
                           Washington, D.C. 20549    
    
                                 FORM 10-Q    
    
    
           QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15  
              OF THE SECURITIES EXCHANGE ACT OF 1934    
    
For the quarterly period ended        June 30, 1998    
    
Commission File Number     0-25430    
    
RIDGEWOOD ELECTRIC POWER TRUST IV  
(Exact name of registrant as specified in its charter.)  
    
Delaware, U.S.A.                    22-3324608        
(State or other jurisdiction of          (I.R.S. Employer    
incorporation or organization)          Identification No.)    
     
947 Linwood Avenue, Ridgewood, New Jersey       07450-2939       
(Address of principal executive offices)       (Zip Code)    
    
Registrant's telephone number, including area code:  (201) 
447-9000    
    
     Indicate by check mark whether the registrant(1) has 
filed all reports required to be filed by Section 13 or 
15(d) of the Securities Exchange Act of 1934 during the 
preceding 12 months (or for such shorter period that the 
registrant was required to file such reports), and (2) has 
been subject to such filing requirements for the past 90 
days.    
    
    
                         YES [X]        NO [ ]    
<PAGE>  
    
  
PART I. - FINANCIAL INFORMATION  
    
<TABLE>  
                    RIDGEWOOD ELECTRIC POWER TRUST IV  
                       CONSOLIDATED BALANCE SHEETS  
                            (Unaudited)  
<CAPTION>  
  
                          June 30,      December 31,  
                              1998            1997
                        (unaudited)
<S>                    <C>               <C>  
  
Assets  
  
Cash and cash 
  equivalents          $ 7,096,878       $11,086,281
Accounts receivable, 
  trade                  1,113,293           657,217
Due from affiliates         85,950           164,536
Other assets               438,648           383,810

Total current assets     8,734,769        12,291,844
 
Investments: 
 
Investment in  
  Maine Hydro Projects   7,382,366         6,694,826
Investment in and
  loans to Maine
  Biomass projects       6,556,829         6,617,862
Electric power 
  equipment held 
  for resale               455,182           455,182
Deferred due 
  diligence costs          279,254            27,159  
 
Plant and 
  equipment:            15,974,250        14,949,735
Less-accumulated 
  depreciation          (1,389,840)       (1,068,812)
 
Electric power 
  sales contract         8,338,040         8,338,040
Less-accumulated 
  amortization          (1,221,750)         (946,212)
 
Debt reserve fund          605,199           605,199
 
   Total assets        $45,714,299       $47,964,823


  
Liabilities and 
 Shareholders' 
 Equity  
  
Current maturities 
  of long-term debt    $   621,192       $   592,193
Accounts payable 
  and accrued 
  expenses                 339,162           384,533
Due to affiliates          291,810           658,253
  Total current 
    liabilities          1,252,164         1,634,979
 
Long-term debt, 
  less current 
  portion                4,530,049         4,848,068
Minority interest in 
  the Providence 
  Project                6,366,105         6,458,416
 
Commitments and 
  contingencies                                        
 
Shareholders' equity  
  (476.8 shares 
  issued
  and outstanding)      33,635,388        35,078,194
Managing shareholders'
accumulated deficit        (69,407)          (54,833)

  Total
  Shareholders' equity  33,565,981        35,023,361

Total liabilities 
  and shareholders' 
  equity               $45,714,299       $47,964,823
<FN>  
See Accompanying Notes to Financial Statements    
</TABLE>  
<PAGE>  

  
<TABLE>  
                   RIDGEWOOD ELECTRIC POWER TRUST IV  
                      STATEMENTS OF OPERATIONS  
                   FOR THE SIX MONTHS AND QUARTERS  
                ENDED JUNE 30, 1998 AND JUNE 30, 1997  
                            (Unaudited)  
<CAPTION>  
  

                                       Six Months                 Quarter ended
                                 June 30,         June 30,     June 30,    June 30,
                                   1998             1997          1998        1998

<S>                           <C>             <C>           <C>           <C>       
 
Net sales                     $ 3,431,187     $ 3,245,273   $ 1,727,715   $ 1,563,094
Sublease income                   184,500         184,500        92,250        92,250
  Total revenues                3,615,687       3,429,773     1,819,965     1,655,344
 
Cost of sales                   2,410,903       2,368,847     1,286,799     1,180,612
 
Gross profit                    1,204,784       1,060,926       533,166       474,732
  
General and administrative 
  expenses                        341,795         236,784       154,798       133,488
Management fee                    560,142         578,644       280,071       285,644
Project due diligence costs        19,169          15,340        19,169         9,864
Other expenses                     10,022          16,358         2,928         8,501
  Total other 
   operating expenses             931,128         847,126       456,966       437,517
  
Income from operations            273,656         213,800        76,200        37,215
 
Other income (expense): 
  Interest income                 276,254         550,925       112,857       301,455
  Interest expense               (255,406)       (301,194)     (125,976)     (133,744)
  Income from 
   Maine Hydro Projects           687,540         773,699       361,010       546,502
  Loss from Maine Biomass
   Projects                      (311,033)            ---       (43,176)          ---
     Net other income             397,355       1,023,430       304,715       714,213
 
Income before 
  minority interest               671,011       1,237,230       380,915       751,428
  
Minority interest in 
  the earnings of the 
  Providence Project             (250,071)       (228,385)     (109,189)      (98,803)
 
Net income                    $   420,940     $ 1,008,845   $   271,726   $   652,625

<FN>  
See Accompanying Notes to Financial Statements  
</TABLE>  
<PAGE>

<TABLE>

                 RIDGEWOOD ELECTRIC POWER TRUST IV          
           STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
                FOR THE PERIOD ENDED JUNE 30, 1998
                            (unaudited)

<CAPTION>

                                       Managing
                       Shareholders   Shareholder      Total
<S>                    <C>             <C>         <C>

Shareholders' equity
December 31, 1997      $35,078,194     $ (54,833)  $35,023,361

Cash distributions      (1,859,537)      (18,783)   (1,878,320)

Net income
for the period             416,731         4,209       420,940

Shareholders' equity
June 30, 1998          $33,635,388     $ (69,407)  $33,565,981

<FN>  

See Accompanying Notes to Financial Statements  
</TABLE>  
<PAGE>  
<TABLE>
                   RIDGEWOOD ELECTRIC POWER TRUST IV  
                       STATEMENTS OF CASH FLOWS  
               FOR THE SIX MONTHS ENDED JUNE 30, 1998 AND   
                             JUNE 30, 1997
                              (Unaudited)  




<CAPTION>  
  
                                    Six Months Ended
                              June 30, 1998    June 30, 1997

<S>                           <C>             <C>                
 
Cash flows from 
 operating activities: 
  Net income                  $   420,940     $ 1,008,845
    
Adjustments to reconcile 
 net income to net cash 
 flows from operating 
 activities: 
 
 Depreciation and 
  amortization                    596,566         515,724
 Amortization of 
  prepaid and accrued 
  royalties- net                      ---         144,535
 Minority interest  
  in earnings of the 
  Providence Project              250,071         228,385
 Income from 
  unconsolidated Maine
  Hydro projects                 (687,540)       (773,699)
 Loss from unconsolidated
  Maine BioMass projects          311,033             ---

 Changes in assets 
  and liabilities:
  (Increase) decrease
    in accounts receiv- 
    able, trade                  (456,076)         21,730
  (Increase) decrease
    in other assets               (54,838)        396,677
  Decrease in accounts
    Payable and accrued
    Expenses                      (45,371)       (209,294)
Decrease in due to 
    affiliates net               (287,857)        (45,020)
Total adjustments                (374,012)        279,038
   Net cash provided 
    by operating 
    activities                     46,928       1,287,883

Cash flows from investing
  activities:
Investment in Maine Hydro
  Projects                            ---         (58,374)
Loans to Maine
  BioMass Projects               (250,000)            ---
Capital expenditures           (1,024,515)     (1,268,590)
Deferred due diligence costs     (252,095)       (153,553)
   Net cash used in
     investment activities     (1,526,610)     (1,480,517)

Cash flows from financing
  activities:
Cash distributions to
  Shareholders                 (1,878,320)     (1,442,146)
Payments to reduce
  long-term debt                 (289,019)       (266,232)
Distribution to minority
  interest                       (342,382)       (413,065)
    Net cash used in
      financing activities     (2,509,721)     (2,121,443)

Net decrease in cash
  and cash equivalents         (3,989,403)     (2,314,077)

Cash and cash equivalents
  beginning of period          11,086,281      22,685,829

Cash and cash equivalents
  end of period               $ 7,096,878    $ 20,371,752


 
Ridgewood Electric Power Trust IV
Notes to the Consolidated Financial Statements						             

1.	General

In the opinion of management, the accompanying unaudited 
financial statements contain all adjustments, which consist 
of normal recurring adjustments, necessary for the pair 
presentation of the results for the interim periods.  
Additional footnote disclosure concerning accounting 
policies and other matters are disclosed in Ridgewood 
Electric Power Trust IV's financial statements included in 
the 1997 Annual Report on Form 10-K, which should be read in 
conjunction with these financial statements.  Certain prior 
year amounts have been reclassified to conform to the 
current year presentation.  The results of operations for an 
interim period should not necessarily be taken as indicative 
of the results of operations that may be expected for a 
twelve month period.

2.	Loans to Biomass Project

In the first quarter of 1998, the Trust loaned $250,000 to 
Indeck Maine Energy, L.L.C. ("Maine Biomass Projects").  The 
loan is in the form of two demand notes that bear interest 
at 5% per annum.  Ridgewood Electric Power Trust V, which 
owns an identical preferred membership interest in the Maine 
Biomass Projects, also made identical loans to the Maine 
Biomass Projects.  The other Maine Biomass Project members 
also loaned $500,000 to the Maine Biomass Projects with the 
same terms.

3.	Legal Proceedings

On August 6, 1998, the Trust was notified by the Region I 
office of the U.S. Environmental Protection Agency ("EPA") 
that the EPA is considering an administrative proceeding 
against a subsidiary of the Trust to recover civil penalties 
of up to $190,000 for alleged violations of operational 
recordkeeping and training requirements at the Providence 
Project.  The Trust is entering into discussions with the 
EPA as to the merits of the allegations and sanctions, 
if any, and expects that it will resolve the matter during 
1998.  The Trust does not anticipate a material adverse 
impact from the proceeding and does not anticipate the need 
to make further material capital expenditures to remedy the 
items identified by the EPA. 

Item #2.  Management's Discussion and Analysis of Financial 
Condition and Results of Operations

This Quarterly Report on Form 10-Q, like some other 
statements made by the Trust from time to time, has forward-
looking statements.  These statements discuss business 
trends and other matters relating to the Trust's future 
results and the business climate.  In order to make these 
statements, the Trust has had to make assumptions as to the 
future.  It has also had to make estimates in some cases 
about events that have already happened, and to rely on data 
that may be found to be inaccurate at a later time.  Because 
these forward-looking statements are based on assumptions, 
estimates and changeable data, and because any attempt to 
predict the future is subject to other errors, what happens 
to the Trust in the future may be materially different from 
the Trust's forward-looking statements here.  
The Trust therefore warns readers of this document that they 
should not rely on these forward-looking statements without 
considering all of the things that could make them 
inaccurate.  The Trust's other filings with the Securities 
and Exchange Commission and its Confidential Memorandum 
discuss many (but not all) of the risks and uncertainties 
that might affect these forward-looking statements.  
Some of these are changes in political and economic 
conditions, federal or state regulatory structures, 
government taxation, spending and budgetary policies, 
government mandates, demand for electricity and thermal 
energy, the ability of customers to pay for energy received, 
supplies of fuel and prices of fuels, operational status of 
plant, mechanical breakdowns, availability of labor and
the willingness of electric utilities to perform existing 
power purchase agreements in good faith.  
By making these statements now, the Trust is not making any 
commitment to revise these forward-looking statements to 
reflect events that happen after the date of this document or to reflect unanticipated future events.

Dollar amounts in this discussion are generally rounded to 
the nearest $1,000.

Introduction

The consolidated financial statements include only the 
accounts of the Trust and of the subsidiaries owning the 
Providence and Pump Services Projects.  The Trust uses the 
equity method of accounting for its investments in the Maine 
Hydro projects and the Maine Biomass Projects.

Results of Operations

In the first six months of 1998, the Trust had total 
revenues of $3,616,000, which were slightly higher than the 
total revenue of $3,430,000 in the same period in 1997. 
Revenues in the second quarter of 1998 of $1,820,000 were 
also slightly higher than the 1997 second quarter revenues 
of $1,655,000.  Cost of sales of $2,410,000 in the first six 
months of 1998 were also slightly higher than the cost of 
sales of $2,369,000 in the first six months of 1997.   Cost 
of sales in the second quarter of 1998 of $1,287,000 were 
also slightly higher than the 1997 second quarter cost of 
sales of $1,181,000.  The increases in both revenues and 
costs of sales in 1998 are attributable to the higher 
production levels achieved at the Providence Project in 
1998.

General and administrative expenses in the second quarter of 
1998 of $155,000 were comparable to $133,000 for the same 
period in 1997. General and administrative expenses for the 
six months ended June 30, 1998 were $105,000 higher than the 
amount for the same period in 1997 because in 1997 a portion 
of the general and administrative costs paid to Ridgewood 
Power Management Corporation were capitalized as part of the 
costs of adding a ninth engine to the Providence project.  

Interest income declined from $301,000 in the second quarter 
of 1997 to $113,000 in the second quarter of 1998 and from 
$551,000 in the first six months of 1997 to $276,000 in the 
first six months of 1997 due to lower average cash balances. 
Interest expense was slightly lower in 1998 due to lower 
borrowings outstanding at the Providence project.  

The Trust's equity in income from the Maine Hydro Projects 
decreased from $774,000 in the first six months of 1997 to 
$688,000 in the same period in 1998 and from $301,000 in the 
second quarter of 1997 to $113,000 in the same period in 
1998.  Revenues from those projects were lower because of 
precipitation fluctuations affecting the flow of water.  The 
Trust recorded an loss of $311,000 in the first six months 
of 1998 and a loss of $43,000 in the second quarter of 1998 
with respect to its equity in Maine Biomass Projects. The 
projects are not operating (except for required testing) but 
in April 1998 they began selling "installed capability" (a 
measure of their capability to provide electricity) under 
contract to participants in the New England Power Pool.  
Revenues from those sales caused the loss attributable to 
the Trust from the Maine Biomass Projects to be 
significantly reduced in the second quarter of 1998.

Liquidity and Capital Resources

During the first six months of 1998, the Trust's operating 
activities generated $47,000 of cash compared to $1,288,000 
during the same period in 1997, as the result of the factors 
discussed above.  Cash distributions to shareholders 
increased to $1,878,000 in the first six months of 1998 from 
$1,442,000 in the same period in 1997 due to a increase in 
the monthly cash distribution rate made in 1997.

In 1997, the Trust and Fleet Bank, N.A. (the "Bank") entered 
into a revolving line of credit agreement, whereby the Bank 
provides a three year committed line of credit facility of 
$1,150,000.  Outstanding borrowings bear interest at the 
Bank's prime rate or, at the Trust's choice, at LIBOR plus 
2.5%.  The credit agreement requires the Trust to maintain a 
ratio of total debt to tangible net worth of no more than 1 
to 1 and a minimum debt service coverage ratio of 2 to 1.  
The credit facility was obtained in order to allow the Trust 
to operate using a minimum amount of cash, maximize the 
amount invested in Projects and maximize cash distributions 
to shareholders.  There have been no borrowings under the 
line of credit in 1998.

Other than investments of available cash in power generation 
Projects, obligations of the Trust are generally limited to 
payment of Project operating expenses, payment of a 
management fee to the Managing Shareholder, payments for 
certain accounting and legal services to third persons and 
distributions to shareholders of available operating cash 
flow generated by the Trust's investments.  The Trust's 
policy is to distribute as much cash as is prudent to 
shareholders.  Accordingly, the Trust has not found it 
necessary to retain a material amount of working capital.  
The amount of working capital retained is further reduced by 
the availability of the line of credit facility.
<PAGE>


PART II - OTHER INFORMATION  
    
Item #6 Exhibits and Reports on Form 8-K    
    
        A. Exhibits    
    
           Exhibit 27. Financial Data Schedule  
      
  
SIGNATURES    
    
    
     Pursuant to the requirements of the Securities Exchange 
Act of 1934, the registrant has duly cause this report to be 
signed on its behalf by the undersigned thereunto duly   
authorized.    
    
    
    
    
                           RIDGEWOOD ELECTRIC POWER TRUST IV   
                                   Registrant    
    
    
Date:  August 14, 1998   By /s/ Martin V. Quinn   
                                Martin V. Quinn  
                                   Senior Vice President and  
                                   Chief Financial Officer    
                                   (signing on behalf of the  
                                   Registrant and as  
                                   principal financial  
                                   officer)  
  
  

</TABLE>