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, 1997    
    
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,  
                              1997            1996  
<S>                   <C>              <C>  
  
Assets  
  
Cash and cash 
  equivalents          $ 20,371,752     $ 22,685,829  
Maintenance reserve 
  fund                          ---          394,070 
Accounts receivable, 
  trade                   1,043,451        1,065,181  
Other receivables            73,801          109,999  
Due from affiliates         202,822              ---  
Spare parts inventory       383,810          383,810  
Prepaid royalty  
  expense                       ---          144,535  
Prepaid other                13,100              ---  
Total current 
  assets                 22,088,736       24,783,424  
 
Investments: 
 
Investment in  
  hydroelectric  
  projects                7,638,584        6,806,511  
Electric power 
  equipment held 
  for resale                461,582          455,182  
Deferred due 
  diligence costs           399,381          245,828  
 
Plant and 
  equipment:             13,158,041       11,889,451  
Less-accumulated 
  depreciation             (597,297)        (357,109) 
 
Electric power 
  sales contract          8,266,096        8,266,096  
Less-accumulated 
  amortization             (665,879)        (390,343) 
 
Debt reserve fund           589,559          575,441  
 
Total assets           $ 51,338,803     $ 52,274,481  
  
Liabilities and 
 Shareholders' 
 Equity  
  
Current maturities 
  of long-term debt     $   538,191     $    538,191  
Accounts payable 
  and accrued 
  expenses                  359,812          569,106  
Due to affiliates           249,859           92,057  
  Total current 
    liabilities           1,147,862        1,199,354  
 
Long-term debt, 
  less current 
  portion                 5,174,028        5,440,260  
Minority interest in 
  the Providence 
  Project                 6,703,588        6,888,268  
 
Commitments and 
  contingencies                                        
 
Shareholders' equity  
  (476.8 shares 
  issued and out-
  standing at June 30,
  1997 and December 31,
  1996)                  37,387,817       38,829,963  
Retained earnings/ 
  (deficit)                 925,508          (83,364)  
  Total shareholders' 
    equity               38,313,325       38,746,599  
  
Total liabilities 
  and shareholders' 
  equity               $ 51,338,803     $ 52,274,481  
<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, 1997 AND JUNE 30, 1996  
                            (Unaudited)  
<CAPTION>  
  


                                Six months     Quarter      Six months      Quarter
                              ended June 30,   ended     ended June 30,  ended June 30,
                                  1997         June 30,        1996           1996
                                                1997                                   

<S>                          <C>            <C>            <C>           <C>       
 
Net sales                      $ 3,245,273     $ 1,563,094   $ 1,013,732     $ 1,011,293
Sublease income                    184,500          92,250        76,875          76,875
  Total revenues                 3,429,773       1,655,344     1,090,607       1,088,168
 
Cost of sales                    2,368,847       1,180,612       726,734         726,734
 
Gross profit                     1,060,926         474,732       363,873         361,434
  
General and administrative 
  expenses                         236,784         133,488        52,562          32,098
Management fee                     578,644         285,664       140,910          93,940
Investment fee                         400             ---       520,931         339,636
Project due diligence costs         15,340           9,864         1,386           1,386
Other expenses                      15,958           8,504        14,529          14,529
  Total other 
   operating expenses              847,126         437,517       730,318         481,589
  
Income (loss) from 
  operations                       213,800          37,215      (366,445)       (120,155)
 
Other income (expense): 
  Interest and  
   dividend income                 550,925         301,455       510,479         448,568
  Interest expense                (301,194)       (133,744)     (125,639)       (125,639)
  Income from 
   hydroelectric 
   projects                        773,699         546,502           ---             ---
    Net other income             1,023,430         714,213       384,840         322,929
 
Income (loss) before 
  minority interest              1,237,230         751,428        18,395         202,774
  
Minority interest in 
  the earnings of the 
  Providence Project              (228,385)        (98,803)     (121,365)       (121,365)
 
Net income (loss)              $ 1,008,845     $   652,625   $  (102,970)    $    81,409




<FN>  
See Accompanying Notes to Financial Statements  
</TABLE>  
<PAGE>  
  
                 RIDGEWOOD ELECTRIC POWER TRUST IV  
                       STATEMENTS OF CASH FLOWS  
              FOR THE SIX MONTHS ENDED JUNE 30, 1997 AND   
                             JUNE 30, 1996  
                              (Unaudited)  
                             
  
[CAPTION]  
  
                             Six months     Six months  
                            ended June 30,  ended June 30,  
                                 1997             1996  
[S]                          [C]            [C]                
 
Cash flows from 
 operating activities: 
  Net income (loss)           $ 1,008,845      $  (102,970) 
    
Adjustments to reconcile 
 net income (loss) to 
 net provided by 
 (used in) operating 
 activities: 
 
 Depreciation and 
  amortization                    515,724          250,000  
 Amortization of 
  prepaid and accrued 
  royalties- net                  144,535                -  
 Minority interest  
  in earnings of the 
  Providence Project              228,385          121,365  
 Income from 
  unconsolidated 
  hydroelectric 
  projects                       (773,699)               -  
 Changes in assets 
  and liabilities, 
  net of effects of 
  Providence Project 
  purchase: 
   Decrease (increase) 
    in maintenance 
    reserve fund                  394,070         (384,587)     
   Decrease (increase) 
    in accounts receiv- 
    able, trade                    21,730         (918,714) 
   Decrease (increase) 
    in prepaid 
    royalties                           -         (693,543) 
   Decrease (increase) 
    other receivables              36,198         (195,336) 
   Decrease (increase) 
    in debt service 
    reserve fund                  (14,118)        (550,000) 
   Decrease (increase)
    in spare parts
    inventory                           -         (403,810)    
   Decrease (increase) 
    in due from
    affiliates                   (268,272)         (60,445)  
   Increase (decrease)
    in accounts payable
    and accrued expenses         (209,294)         557,001  
   Increase (decrease) 
    in due to 
    affiliate                     223,252            7,030  
   Other-net                      (13,073)               -  
   Total adjustments              285,438       (2,271,039) 
   Net cash provided 
    by (used in) 
    operating 
    activities                  1,294,283       (2,374,009) 
 
Cash used in 
 investing 
 activities: 
  Investment in 
   hydroelectric 
   projects                       (58,374)               -  
  Purchase of Providence 
   Project capital
   assets                               -      (10,806,301) 
  Purchase of Providence
   Project contract
   rights                               -       (8,266,096) 
  Capital 
   expenditures                (1,268,590)        (386,661) 
  Deferred due 
   diligence costs               (153,553)           2,129  
  Purchase of(disposition) 
   of electric 
   generating 
   equipment                       (6,400)         (13,836) 
    Net cash used 
    in investing 
    activities                 (1,486,917)     (19,470,765) 
 
Cash provided by 
 (used in) financing 
 activities: 
  Proceeds from 
   shareholders' 
   contributions                        -       26,744,753  
  Selling commissions 
   and offering 
   costs paid                           -       (3,846,242) 
  Cash distributions 
   to shareholders             (1,442,146)        (804,418) 
  Issuance of
   long-term debt                       -        6,228,854 
  Payments to reduce 
   long-term debt                (266,232)               -  
  Distribution to 
   minority interest             (413,065)       7,004,687  
    Net cash provided 
     by (used in) financing 
     activities                (2,121,443)      35,327,634  
 
Net increase (decrease) 
 in cash and cash 
 equivalents                   (2,314,077)      13,482,860  
Cash and cash 
 equivalents, 
 beginning of period           22,685,829       12,934,900  
Cash and cash 
 equivalents, 
 end of period                $20,371,752      $26,417,760  
 
[FN]  
See Accompanying Notes to Financial Statements  
<PAGE>  
  
RIDGEWOOD ELECTRIC POWER TRUST IV  
NOTES TO FINANCIAL STATEMENTS                              
  
1.  Organization and Purpose  
  
     Nature of Business  
 
Ridgewood Electric Power Trust IV (the "Trust") was formed as a 
Delaware business trust in September 1994, by Ridgewood Energy 
Holding Corporation acting as the Corporate Trustee.  The managing 
shareholder of the Trust is Ridgewood Power Corporation.  The 
Trust began offering shares on February 6, 1995. The Trust 
discontinued its offering of shares in March 1995 and commenced 
operations in September 1996.
  
The Trust has been organized to invest in independent power 
generation facilities and in the development of these facilities.  
These independent power generation facilities will include 
cogeneration facilities, which produce both electricity and heat 
energy and other power plants that use various fuel sources 
(except nuclear).  The power plants will sell electricity and/or 
heat energy to utilities and industrial users under long-term 
contracts.  
  
     Business Development Company Election  
 
The Trust made an election to be treated as a Business Development 
Company ("BDC") under the Investment Company Act of 1940 ("the 
1940 Act").  On January 24, 1995, the Trust notified the 
Securities Exchange Commission of such election and registered its 
shares under the Securities Exchange Act of 1934 ("the 1934 Act").  
On March 24, 1995, the election and registration became effective.
  
On September 9, 1996, through a proxy solicitation the Trust 
requested investor consent to end the BDC status.  As of October 
2, 1996, more than 50% of the investors shares consented to the 
elimination of the BDC status.  Accordingly, the Trust is no 
longer an investment company under the 1940 Act.  
  
2.  Summary Of Significant Accounting Policies  
  
     Interim Financials  
 
The consolidated financial statements for the periods ended June 
30, 1997 and 1996 included herein have been prepared by the Trust 
without audit pursuant to the rules and regulations of the 
Securities and Exchange Commission.  Accordingly, these statements 
reflect all adjustments (consisting only of normal recurring 
entries) which are, in the opinion of management, necessary for a 
fair statement of the financial results for the interim periods.  
Certain information and notes normally included in financial 
statements prepared in accordance with generally accepted 
accounting principles have been condensed or omitted pursuant to 
such rules and regulations, although the Trust believes that the 
disclosures are adequate to make the information presented not 
misleading.  These financial statements should be read in 
conjunction with the financial statements and the notes thereto 
included in the Trust's Annual Report on Form 10-K for the year 
ended December 31, 1996 (Form 10-K).  
  
     Accounting Changes  
 
As a BDC under the 1940 Act, the Trust utilized generally accepted 
accounting principles for investment companies.  As a result of 
the elimination of the BDC status, the Trust now utilizes 
generally accepted accounting principles for operating companies.  
In accordance with the generally accepted accounting principles 
for BDCs, investments in power generation projects were stated at 
fair value in previously issued financial statements.  As a result 
of the elimination of the BDC status, consolidation and 
equity method accounting principles now apply to the 
  
<PAGE> 
 
Ridgewood Electric Power Trust IV  
Notes to the Consolidated Financial Statements  
  
accounting for investments.  Accordingly, the financial data for 
all prior periods presented has been restated to reflect the use 
of consolidation and equity method accounting principles.  
  
     Principles of Consolidation and Accounting for Investment in Power  
Generation Projects  
 
The consolidated financial statements include the accounts of the 
Trust and affiliates owned more than 50%.  All material 
intercompany transactions have been eliminated.  
  
The Trust uses the equity method of accounting for its investment 
in an affiliate which is 50% owned because the Trust has the 
ability to exercise significant influence over the operating and 
financial policies of the affiliate but does not control the 
affiliate.  The Trust's share of the earnings of the affiliate is 
included in consolidated net income.  
  
     Use of Estimates  
 
The preparation of consolidated financial statements in conformity 
with generally accepted accounting principles requires management 
to make estimates and assumptions that affect the reported amounts 
of assets and liabilities, and disclosure of contingent assets and 
liabilities at the date of the financial statements and the 
reported amounts of revenues and expenses during the reporting 
period.  Actual results could differ from the estimates.  
  
     Cash and Cash Equivalents  
 
The Trust considers all highly liquid investments with maturities 
when purchased of three months or less as cash and cash 
equivalents.  
  
     Plant and Equipment  
 
Plant and equipment, consisting principally of electrical 
generating equipment, is stated at cost.  Renewals and betterments 
that increase the useful lives of the assets are capitalized.  
Repair and maintenance expenditures that increase the efficiency 
of the assets are expensed as incurred.
  
Depreciation is recorded using the straight-line method over the 
useful lives of the assets, which is 10 to 20 years.  For the 
periods ended June 30, 1997 and June 30, 1996, the Trust recorded 
depreciation expense of $240,188 and $250,000, respectively.  
  
     Intangible Asset  
 
A portion of the purchase price of the Providence Project was 
assigned to the Electric Power Sales Contract and is being 
amortized over 15 years on a straight-line basis.  For the periods 
ended June 30, 1997 and June 30, 1996, the Trust recorded 
amortization expense of $275,536 and $0, respectively. 
  
     Electric Power Equipment Held for Resale  
 
The Trust owns certain used electric power equipment that is 
stated at cost, which approximates estimated net realizable value.
  
     Revenue Recognition  
 
Power generation revenue is recognized based on power delivered at 
rates stipulated in the power sales contract.  Interest and 
dividend income is recorded when earned.  
  
     Income Taxes  
 
No provision is made for income taxes in the accompanying 
financial statements as the income or losses of the Trust are 
passed through and included in the tax returns of the individual 
shareholders of the Trusts.  
  
<PAGE> 
 
Ridgewood Electric Power Trust IV  
Notes to the Consolidated Financial Statements  
  
     Offering Costs 
 
Costs associated with offering Trust shares (selling 
commissions, distribution and offering costs) are reflected as a 
reduction of the shareholders' capital contributions.  
  
     Due Diligence Costs Relating to Potential Power Projects 
 
Costs relating to the due diligence performed on potential power 
project investments are initially deferred, until such time as the 
Trust determines whether or not it will make an investment in the 
respective project.  Costs relating to completed projects are 
capitalized and costs relating to rejected projects are expensed, 
at the time of rejection.  
  
3.  Acquisitions  
  
The Trust has made the following investments in power generation 
projects and electric power equipment:  
  
 
                       Nature of  Ownership  June 30,   December 31, 
Project Name           Ownership  Interest    1997             1996 
                                             
Providence Project   Partnerships   64.3%   $12,850,000   $12,850,000 
Maine Hydro Project  Partnerships   50.0%     7,638,584     6,806,511 
California Pumping    Direct 
 Project              Ownership    100.0%       742,191       697,730 
Electric Power        Direct  
 Equipment            Ownership    100.0%       461,582       455,182 
 
     Providence Project 
In 1996, Ridgewood Providence Power Partners, L.P. was formed as a 
Delaware limited partnership ("Providence Power").  The Trust 
invested $12,721,500 and owns a 64.3% limited partnership interest 
in Providence Power.  In addition, Ridgewood Providence Power 
Corporation, was formed as a Delaware corporation ("RPPCorp.").  
The Trust invested $128,500 and owns 64.3% of the outstanding 
common stock of RPPCorp., which is the sole general partner of 
Providence Power.  
 
On April 16, 1996, Providence Power purchased substantially all of 
the net assets of Northeastern Landfill Power Joint Venture.  The 
assets acquired include a 12.3 megawatt capacity electrical 
generating station, located at the Central Landfill in Johnston, 
Rhode Island (the "Providence Project").  The Providence Project 
includes eight reciprocating electric generator engines, which are 
fueled by methane gas produced and collected from the landfill.  
The electricity generated is sold to New England Power Corporation 
under a long-term contract.  The purchase price was $15,533,021 
cash, including transaction costs and repayment of $3,000,000 of 
principal on the senior secured non-recourse notes payable.  In 
addition, Providence Power assumed the obligation to repay the 
remaining principal outstanding of $6,310,404 on the senior 
secured non-recourse notes payable. 
 
Through ownership in RPPCorp. and Providence Power, the Trust owns 
64.3% of the Providence Project.  The remaining 35.7% is owned by 
Ridgewood Electric Power Trust III ("Trust III").  Ridgewood Power 
Corporation is the managing partner of the Trust and Trust III. 
 
<PAGE> 
 
Ridgewood Electric Power Trust IV 
Notes to the Consolidated Financial Statements 
 
 
The acquisition of the Providence Project was accounted for as a 
purchase as of April 16, 1996, and the results of operations of 
the Providence Project have been included in the Trust's 
Consolidated Financial Statements since that date.  The purchase 
price was allocated to the net assets acquired, based on their 
respective fair values.  A portion of the purchase price 
($8,266,096) was allocated to the Electric Power Sales Contract 
and is being amortized over 15 years. 
 
The following unaudited pro forma information has been prepared 
assuming the Providence Project was acquired as of the beginning 
of the periods presented.  The pro forma information is presented 
for information purposes only and is not necessarily indicative of 
what would have occurred if the formation and acquisition had been 
made as of those dates.  In addition, the pro forma information is 
not intended to be a projection of future results and does not 
reflect capital equipment additions and changes in operating 
management which have been made at the Providence Project 
subsequent to the acquisition. 
 
                                       Actual         ProForma 
                                    For the six      For the six
                                    Months ended     Months ended
                                      June 30,         June 30, 
                                        1997             1996 
 
Net sales                             $3,227,566       $2,433,623 
Income from Operations                   650,284          564,730 
Net Income                               640,051          373,373 
 
 
     Maine Hydro Projects 
 
On September 5, 1996, Ridgewood Maine Hydro Partners, L.P. was 
formed as a Delaware limited partnership ("Ridgewood Hydro L.P.").  
The Trust made investments and advances of $6,740,570 and owns a 
50% limited partnership interest in Ridgewood Hydro L.P.  In 
addition, Ridgewood Maine Hydro Corporation, was formed as a 
Delaware corporation ("RMHCorp.").  The Trust invested $65,941 and 
owns 50% of the outstanding common stock of RMHCorp., which is the 
sole general partner of Ridgewood Hydro L.P.  
 
On December 23, 1996, in a merger transaction, Ridgewood Hydro 
L.P. acquired 14 hydroelectric projects, located in Maine (the 
"Maine Hydro Projects"), from a subsidiary of Consolidated Hydro, 
Inc.  The assets acquired include a total of 11.3 megawatts of 
electrical generating capacity.  The electricity generated is sold 
to Central Maine Power Company and Bangor Hydro Company under 
long-term contracts.  The purchase price was $12,256,306 cash, 
including transaction costs.  In addition, Ridgewood Hydro L.P.  
assumed a long-term lease obligation of $1,017,209.  The Trust's 
50% share of the cash consideration paid was $6,128,153. The 
remaining 50% was paid by Ridgewood Electric Power Trust V ("Trust 
V").  Ridgewood Power Corporation is the managing shareholder of the 
Trust and Trust V. 
 
The Trust's 50% investment in the Maine Hydro Projects is 
accounted for under the equity method of accounting.  The Trust's 
equity in the earnings of the Maine Hydro Projects have been 
included in the Consolidated Financial Statements since December 
23, 1996. 
 
The Maine Hydro Projects are operated by a subsidiary of 
Consolidated Hydro, Inc., under an Operation, Maintenance and 
Administrative Agreement.  The annual operator's fee is 
$307,500, adjusted for inflation, plus an annual incentive fee 
equal to 50% of the net cash flow in excess of a target amount.  
The agreement has a five year term and can be renewed for two 
additional five year terms by mutual consent. 
 
<PAGE> 
 
Ridgewood Electric Power Trust IV 
Notes to the Consolidated Financial Statements 
 
 
Summarized financial information for the Maine Hydro Projects is 
as follows: 
 
Balance Sheet Information at June 30, 1997 
 
Current assets   $  3,573,893        Due to Trust IV  $     43,027 
Electric power                       Other current  
 sales contract    12,247,132         liabilities          324,200 
Other non-current                    Non-current  
 assets               828,049         liabilities        1,004,679 
                                     Partners' 
                                      equity            15,277,168 
Total assets      $16,649,074        Total liabilities 
                                      and equity       $16,649,074 
 
 
Statement of Operations Information for the Six Months Ended June 
30, 1997 
 
Revenue                            $3,048,029 
Operating expenses                    921,711 
Depreciation & Amortization           518,976 
Other Income/(Expense)                (59,943) 
            Net income          $   1,547,399 
 
     California Pumping Project 
 
On December 31, 1995, the Trust acquired a package of natural gas-
fueled diesel engines which drive deep irrigation well pumps in 
Ventura County, California from an affiliated trust.  The engines' 
shaft horsepower-hours are sold to the operator at a discount from 
the equivalent kilowatt-hours of electricity.  The Trust receives 
a distribution of $0.02 per equivalent kilowatt-hour up to 3,000 
kilowatt-hours per year and $0.01 per equivalent kilowatt-hour for each 
additional kilowatt-hour per year. The operator pays for fuel, 
maintenance, repair and replacement. The initial acquisition 
included 11 engines with a rated capacity of 1.2 megawatts.  The 
purchase price of $353,619 was paid in 1996.  During 1996, the 
Trust acquired an additional 9 engines with a rated capacity of 
1.2 megawatts at a purchase price of $344,111.  During the six 
months ended June 30, 1997 the Trust invested additional funds of 
$44,461 in the California Pumping projects.  At June 30, 1997, 
the Trust's total investment in the California Pumping Project was 
$742,191. 
 
4.  Electric Power Equipment Held for Resale 
 
The Trust purchased, from an affiliated entity, various used 
electric power generation equipment to be held for resale or, in 
the event a buyer is not found, for use in potential power 
generation projects.  The equipment is held in storage.  At June 
30, 1997 and December 31, 1996, the cost of such equipment was 
$461,582 and $455,182, respectively. 
 
5.  Long-term Debt 
 
Following is a summary of long-term debt at June 30, 1997: 
 
Senior secured non-recourse notes payable       $5,712,219 
Less - Current maturity                            538,191 
Total Long-term Debt                            $5,174,028 
 
<PAGE> 
 
Ridgewood Electric Power Trust IV 
Notes to the Consolidated Financial Statements 
 
 
The senior secured non-recourse notes are obligations of Providence Power and 
are due in monthly 
installments of $90,738 including interest at 9.6%.  Final payment 
is due on October 15, 2004.  The notes also provide for additional 
interest equal to 5% of the annual net cash flow of the Providence 
Project, as defined.  No additional interest was due for the eight 
and one-half months ending December 31, 1996.  The notes are 
secured by a leasehold mortgage on Providence Power's landfill 
lease agreements and substantially all of the assets of Providence 
Power.  In addition to the required monthly payments, mandatory 
prepayments may be required if certain events occur.  The loan 
agreement also provides for a cash funded debt service reserve and 
maintenance reserve.  At June 30, 1997 and December 31, 1996, 
the cash balances in these 
reserve accounts were $589,559 and $575,441, respectively.  
Additions and reductions to these reserve accounts are defined in 
the loan agreement.  As of January 31, 1997, Providence Power's 
obligations to maintain a cash balance in the maintenance reserve 
account have terminated and the cash balance in the reserve 
account has been released to Providence Power.  The loan agreement 
contains various covenants, including the maintenance of a 
specified debt service ratio. 

Scheduled repayments of long-term debt 
principal for the next five 
years are as follows: 
 
 Year Ended 
December 31,       Repayment 
       1997         $538,191 
       1998          592,193 
       1999          651,613 
       2000          716,995 
       2001          788,937 
 
 
6.  Fair Value of Financial Instruments 
 
At June 30, 1997, the carrying value of the Trust's cash, debt 
service and maintenance reserves and notes payable approximates 
their fair value.  The fair value of the long-term debt, 
calculated using current rates for loans with similar maturities, 
also approximates its carrying value. 
 
7.  Electric Power Sales Contracts 
 
Providence Power is committed to sell all of the electricity it 
produces to New England Power Company ("NEP") for prices as 
specified in the Power Purchase Agreement.  The prices are 
adjusted annually for changes in the Consumer Price Index, as 
defined.  The NEP agreement expires in the year 2020 and can be 
terminated by either party under certain conditions in 2010.  At 
the time of the acquisition of the Providence Project, Providence 
Power was required under the NEP agreement to maintain in an 
escrow account cash to secure payment of the aggregate 
differential to NEP in the event of default.  At April 16, 1996, 
the aggregate differential amounted to $1,065,989.  In October 
1996, the aggregate differential decreased to zero and the cash 
held in escrow was released to Providence Power.  For the six months 
ended June 30, 1997 and June 30, 1996, sales revenue under the 
NEP Power Purchase Agreement amounted to $3,227,566 and $1,009,703, 
respectively. 
 
The Maine Hydro Projects qualify as small power production 
facilities under the Public Utility Regulatory Policies Act 
("PURPA").  PURPA requires that each electric utility company 
operating at the location of a small power production facility, as 
defined, purchase the electricity generated by such facility at a 
specified or negotiated price.  The Maine Hydro Projects sell 
substantially all of their electrical output to two public utility 
companies, Central Maine Power Company ("CMP") and Bangor Hydro-
Electric Company ("BHC"), under long-term power purchase 
agreements.  Eleven of the twelve power purchase agreements 
with CMP expire in 
 
<PAGE> 
 
Ridgewood Electric Power Trust IV 
Notes to the Consolidated Financial Statements 
 
 
December 2008 and are renewable for an additional five year 
period.  The twelfth power purchase agreement with CMP expires in 
December 2007 with CMP having the option to extend the contract 
three more five-year periods.  The two power purchase agreements 
with BHC expire December 2014 and February 2017. 
 
8.  Landfill Lease and Sublease  
 
Providence Power leases the Central Landfill, located in Johnston, 
Rhode Island, from Rhode Island Resource Recovery Corporation 
("RIRRC").  The lease expires in 2020 and can be extended for an 
additional 10 years.  The lease requires Providence Power to pay a 
royalty equal to 15% of net revenues, as defined, for the first 15 
years of the lease.  For subsequent years, the royalty is 15% of 
net revenues for each month in which the average daily kilowatt-
hour production is less than 180,000 and 18% of net revenues for 
each month in which the average 
daily kilowatt-hour production exceeds 180,000.  At the time of 
the acquisition of the Providence Project, Providence Power made a 
royalty prepayment to RIRRC of $925,000.  For the six months ended 
June 30, 1997 and June 30, 1996, royalty expense relating to the 
RIRRC lease amounted to $470,137 and $151,455, respectively. 
 
Providence Power subleases the Central Landfill to Central Gas 
Limited Partnership ("Gasco"). Gasco operates and maintains the 
landfill gas collection system and supplies landfill gas to the 
Providence Project.  The sublease agreement is effective through 
December 31, 2010 and provides for the following: 
 
1.  Sublease Income - Gasco is to pay Providence Power an annual 
amount equal to the product of $30,000 times the assumed output 
capacity of each engine generator set in megawatts installed 
and operating by the joint venture.  Income recorded under the 
sublease amounted to $184,500 and $76,875, respectively for the six 
months ended June 30, 1997 and June 30, 1996. 
 
2.  Fuel Expense - Providence Power agreed to purchase all the 
landfill gas produced by Gasco and pay on a monthly basis 
$.01183 per kilowatt-hour for the first 4,000,000 kilowatt-
hours, $.005 per kilowatt hour for kilowatt hours in excess of 
4,000,000 and $.05 per million BTU's of excess landfill gas.  
The price is adjusted annually for changes in the Consumer 
Price Index, as defined.  Purchases from Gasco for the six 
months ended June 30, 1997 and June 30, 1996 amounted to 
$428,999 and $150,986, respectively. 
 
9.  Transactions With Managing Shareholder and Affiliates 
 
The Trust pays to the managing shareholder a distribution and 
offering fee up to 6% of each capital contribution made to the 
Trust.  This fee is intended to cover legal, accounting, 
consulting, filing, printing, distribution, selling and closing 
costs for the offering of  the Trust.  For the periods ended June 
30, 1997 and June 30, 1996, the Trust paid fees for these 
services to the managing shareholder of $0 and $1,562,369, 
respectively.  These fees are recorded as a reduction in the 
shareholders' capital contribution. 
 
<PAGE> 
 
Ridgewood Electric Power Trust IV 
         Notes to the Consolidated Financial Statements 
 
 
The Trust pays to the managing shareholder an investment fee up to 
2% of each capital contribution made to the Trust.  The fee is 
payable to the managing shareholder for its services in 
investigating and evaluating investment opportunities and 
effecting transactions for investing the capital of the Trust.  For 
the periods ended June 30, 1997 and June 30, 1996, the Trust paid 
investment fees to the managing shareholder of $400 and $520,931, 
respectively. 

The Trust entered into a management agreement with the managing 
shareholder under which the managing shareholder renders certain 
management, administrative and advisory services and provides 
office space and other facilities to the Trust.  As compensation to 
the managing shareholder, the Trust pays the managing shareholder 
an annual management fee equal to 3% of the net asset value of the 
Trust payable monthly upon the closing of the Trust.  For the 
periods ended June 30, 1997 and June 30, 1996, the Trust paid 
management fees to the managing shareholder of $578,644 and 
$140,910, respectively. 
 
Under the Declaration of Trust, the managing shareholder is 
entitled to receive each year 1% of all distributions made by the 
Trust (other than those derived from the disposition of Trust 
property) until the shareholders have been distributed each year 
an amount equal to 14% of their equity contribution.  Thereafter, 
the managing shareholder is entitled to receive 20% of the 
distributions for the remainder of the year.  The managing 
shareholder is entitled to receive 1% of the proceeds from 
dispositions of Trust properties until the shareholders have 
received cumulative distributions equal to their original 
investment ("Payout").  In all cases, after Payout the managing 
shareholder is entitled to receive 20% of all remaining 
distributions of the Trust. 
 
Where permitted, in the event the managing shareholder or an 
affiliate performs brokering services in respect of an investment 
acquisition or disposition opportunity for the Trust, the managing 
shareholder or such affiliate may charge the Trust a brokerage 
fee.  Such fee may not exceed 2% of the gross proceeds of any such 
acquisition or disposition.  No such fees have been paid through 
June 30, 1997. 
 
The managing shareholder purchased one share of the Trust for 
$83,000.  For the six months ended June 30, 1997 and June 30, 1996, 
commissions and placement fees of $200 and $300,778, respectively, 
 were earned by Ridgewood Securities Corporation, an affiliate of 
the managing shareholder. 
 
Under an Operating Agreement with the Trust, Ridgewood Power 
Management Corporation ("Ridgewood Management"), an entity related 
to the managing shareholder through common ownership, provides 
management, purchasing, engineering, planning and administrative 
services to the Trust's power generation projects.  Ridgewood 
Management charges the projects at its cost for these services and 
for the allocable amount of certain overhead items.  Allocations 
of costs are on the basis of identifiable direct costs, time 
records or in proportion to amount invested in projects managed by 
Ridgewood Management.  For the periods ended June 30, 1997 and 
June 30, 1996, Ridgewood Management charged Providence Power 
$231,215 and $517, respectively, for overhead items allocated in 
proportion to the amount invested in projects managed, and charged 
Providence Power for all of the remaining direct operating and 
non-operating expenses incurred during the period. 
 
<PAGE> 
  
10.  Subsequent Event

On July 1, 1997, through a subsidiary, the Trust purchased a preferred 
membership interest in Indeck Maine Energy, L.L.C. ("Indeck Maine"), which 
owns two electric power generating stations fueled by waste wood.  The 
aggregate purchase price was $7,275,450 and includes transaction costs of 
$275,450.  Each project has 24.5 megawatts of electrical generating capacity.  
The Penobscot project is located in West Enfield, Maine and the Eastport 
project is located in Jonesboro, Maine.  Indeck Maine has a power sales 
contract with the New England Power Pool, which expires on August 31, 1997.  
The buyer has an option to extend the contract for an additional month.

The preferred membership interest entitles the Trust to receive an 18% 
cumulative annual return on its $7,000,000 capital contribution to Indeck 
Maine from the operating net cash flow from the projects.  Trust V also 
purchased an identical preferred membership interest in Indeck Maine.  After 
payments in full to the preferred membership 
interests, any remaining operating net cash flow is payable 25% to the Trust 
and Trust V and 75% to the other Indeck Maine members.

The Trust's investment in Indeck Maine is accounted for under the equity 
method of accounting.  The Trust's equity in the earnings of Indeck Maine will 
be included in the Consolidated Financial Statements from July 1, 1997.

The Penobscot and Eastport projects are operated by Indeck Operations, Inc., 
an affiliate of the other members of Indeck Maine.  The annual operator's fee 
is $300,000.

RIDGEWOOD ELECTRIC POWER TRUST IV  
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.    
  
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.  
  
Six months ended June 30, 1997 versus six months ended June 30, 1996 
  
     Results of Operations    
    
The consolidated financial statements include the accounts of the Trust and 
the limited partnerships owning the Providence and California Pumping 
Projects.  The Trust uses the equity method of accounting for its investment 
in the Maine Hydro Projects, which are 50% owned by the Trust.  The Trust's 
share of the earnings and cash flow earned by the Maine Hydro Projects is 
seasonal, peaking in the second and fourth quarters of the year (when high 
river flows generally produce a greater amount of electricity) and falling in 
the first and third quarters, when river flows are lower and equipment 
maintenance is performed.    
  
For the six months ended June 30, 1997, the Trust's net income increased to 
$1,009,000 from a net loss of $103,000 for the same quarter in 1996.  The 
earnings for the six months ended June 30, 1997 includes equity in net income 
from the Maine Hydro Projects of $774,000, earnings, net of minority interest, 
from the Providence Project of $409,000, a minor contribution to earnings from 
the California Pumping Project of $18,000, interest and dividend income at the 
Trust level of $444,000, less Trust-level expenses of $636,000.
  
The Trust's only investments in the first six months of 1996 were the 
Providence Project and the California Pumping Project and the Trust had 
significant investment fee expenses relating to the share offering. The loss 
for the six months ended June 30, 1997 includes earnings, net of minority 
interest, from the Providence Project of $218,000, a minor contribution to 
earnings from the California Pumping Project of $4,000, interest and dividend 
income at the Trust level of $377,000, less Trust-level expenses of $702,000.
  
The Trust-level expenses include investment fees, management fees and general, 
and administrative and other expenses of $521,000, $141,000 and $40,000, 
respectively.  
  
     Liquidity and Capital Resources    
    
At June 30, 1997, the Trust had $20,372,000 of cash available for investment 
in Projects.  During the first six months of 1997, cash flow provided by 
operation activities amounted to $1,294,000.  Distributions to shareholders of 
the Trust amounted to $1,442,000. 
  
During the first six months of 1997, capital expenditures amounted to 
$1,269,000, most of which related to the installation of a ninth generator 
engine at the Providence Project.    
  
The Trust is in the process of obtaining a $750,000 line of credit, which it 
plans to have in place in the third quarter of 1997.  The line of credit is 
being 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.    
  
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 
will be further reduced by obtaining a line of credit.  
  
     Certain Industry Trends  
  
The industry trend toward deregulation of the electric power 
generating and transmission industries has accelerated after 
the adoption of Order 888 by the Federal Energy Regulatory 
Commission ("FERC") on April 24, 1996.  A number of major 
states, including California, have adopted proposals to 
allow "retail wheeling," which would allow any qualified 
generator to use utility transmission and distribution 
networks to sell electricity directly to utility customers.  
Other states, such as Massachusetts, Maine and Rhode Island, 
are preparing their own initiatives.  As a result, 
profound changes in the industry are occurring, marked by 
consolidations of utilities, large scale spin-offs or sales 
of generating capacity, reorganizations of power pools and 
transmission entities, and attempts by electric utilities to 
recover stranded costs and alter power purchase contracts 
with independent power producers such as the Trust.  
  
It is too early to predict the effects of these trends and 
others on the Trust's business.  A critical issue for the 
Trust, however, is whether any action will be taken to 
modify its existing power purchase contracts or to shift 
costs to independent power producers.  To date, neither FERC 
nor state authorities have adopted 
measures that would impair power purchase contracts and the 
Trust is not aware of any other such action by regulatory 
authorities in states where it does business.    
  
It must be remembered, however, that legislative and 
regulatory action is unpredictable and that at any time 
federal or state legislatures or regulators could adopt 
measures that would be materially adverse to the Trust's 
business.  Further, volatile market conditions could 
adversely affect the Trust's operations and the actions of 
other industry participants, such as electric utilities, 
which in turn could affect the Trust.   
  
    
  
PART II - OTHER INFORMATION  
    
Item #6 Exhibits and Reports on Form 8-K    
    
        A. Exhibits    
    
           Exhibit 27. Financial Data Schedule  
    
        B. Reports on Form 8-K    
    
           No Current Reports on Form 8-K were filed during this quarter.
                                    
   
  
SIGNATURES    
    
    
     Pursuant to the requirements of the Securities Exchange 
Act of 1934, the registrant has duly caused this report to be 
signed on its behalf by the undersigned thereunto duly 
authorized.    
    
    
    
    
                           RIDGEWOOD ELECTRIC POWER TRUST IV   
                                   Registrant    
    
    
Date:  August 15, 1997      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)