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        March 31, 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 SHEET  

<CAPTION>  
                            March 31,      December 31,
                              1998            1997
                           (unaudited)
<S>                      <C>              <C>    
Assets  
Cash and cash 
  equivalents              $ 8,858,191     $ 11,086,281   
Accounts receivable, 
  trade                      1,105,278          657,217  
Due from affiliates            261,735          164,536  
Other assets                   429,463          383,810  
Total current 
  assets                    10,654,667       12,291,844  
 
Investments: 
 
Investment in Maine 
  Hydro projects             7,021,356        6,694,826
Investment in Maine  
  Biomass projects           6,600,005        6,617,862
Electric power 
  equipment held 
  for resale                   455,182          455,182  
Deferred due 
  diligence costs               50,506           27,159  
 
Plant and  
  equipment:                15,417,294       14,949,735  
 
Less-accumulated 
  depreciation              (1,173,549)      (1,068,812) 
 
Electric power 
  sales contract             8,338,040        8,338,040  
Less-accumulated 
  amortization              (1,083,981)        (946,212) 
 
Debt reserve fund              605,198          605,199  
 
Total assets              $ 46,884,718     $ 47,964,823
  
Liabilities and  
 Shareholders'   
 Equity  
  
Current maturities 
  of long-term debt        $   605,620     $    592,193  
Accounts payable  
  and accrued  
  expenses                     318,911          384,533
Due to affiliates              589,298          658,253  
  Total current 
    liabilities              1,513,829        1,634,979  
 
Long-term debt, 
  less current 
  portion                    4,691,858        4,848,067  
Minority interest in 
  the Providence 
  Project                    6,433,909        6,458,416  
 
Commitments and 
  contigencies                                        
 
Shareholders' equity:
Shareholders' equity 
 (746.8 shares issued
 and outstanding)           34,307,738       35,078,194  
Managing shareholder's
  accumulated deficit          (62,616)         (54,833)    
Total shareholders'    
  equity                    34,245,122       35,023,361  
Total liabilities  
  and shareholders'  
  equity                  $ 46,884,718     $ 47,964,823  
<FN>  
See accompanying notes to the consolidated financial statements    
</TABLE>  
<PAGE>  
  
<TABLE>  
RIDGEWOOD ELECTRIC POWER TRUST IV  
CONSOLIDATED STATEMENTS OF OPERATIONS  
(Unaudited)  
<CAPTION>  
  
                                     Three months ended  
                                 March 31,          March 31,  
                                   1998               1997  
<S>                            <C>              <C>            
 
Net sales                       $ 1,703,472       $ 1,682,179     
Sublease income                      92,250            92,250     
  Total revenue                   1,795,722         1,774,429    
 
Cost of sales                     1,124,104         1,188,235      
 
Gross profit                        671,618           586,194      
  
General and administrative 
  expenses                          186,997           103,296    
Management fee                      280,071           292,980        
Project due diligence costs             ---             5,479   
Other expenses                        7,094             7,854   
  Total other 
   operating expenses               474,162           409,609   
  
Income from operations              197,456           176,585   
 
Other income (expense): 
  Interest income                   163,397           249,470    
  Interest expense                 (129,430)         (167,450)   
  Income from Maine Hydro 
   Projects                         326,530           227,197
  Loss from Maine Biomass
   Projects                        (267,857)              ---    
Net other income                     92,640           309,217    
Income before minority 
  interest                          290,096           485,802    
Minority interest in 
  the earnings of the 
  Providence Project               (140,882)         (129,582)   
 
Net income                      $   149,214         $ 356,220   
 
<FN>  
See accompanying notes to the consolidated financial statements  
</TABLE>  
<PAGE>  
    
<TABLE>  

RIDGEWOOD ELECTRIC POWER TRUST IV 
STATEMENT OF CHANGES IN SHAREHOLDERS EQUITY (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                 (918,178)      (9,275)        (927,453)

Net income for the period           147,722        1,492          149,214

Shareholders' equity,
  March 31, 1998                $34,307,738     $(62,616)     $34,245,122      

<FN>  
See accompanying note to financial statements  

</TABLE>  

<PAGE>  
                             
<TABLE>  
RIDGEWOOD ELECTRIC POWER TRUST IV  
STATEMENTS OF CASH FLOWS (Unaudited)  
                             
  
<CAPTION>  
  
                                   Three months ended
                               March 31,         March 31,  
                                  1998            1997  
<S>                          <S>            <C>                
 
Cash flows from 
 operating activities: 
  Net income                  $    149,214     $   356,220 
    
Adjustments to reconcile 
 net income to net cash 
 (used in) provided by  
 operating activities:  
  Depreciation and  
   amortization                    242,506         257,862   
  Amortization of  
   prepaid and accrued  
   royalties- net                     ---          144,535  
  Minority interest  
   in earnings of the 
   Providence Project              140,882         129,582  
  Income from 
   unconsolidated Maine
   Hydro Projects                 (326,530)       (227,197)  
  Loss from unconsolidated
   Maine Biomass Projects          267,857             ---
  Changes in assets 
   and liabilities: 
   (Increase) decrease 
    in accounts receiv- 
    able, trade                   (448,061)        527,525 
   Decrease in other assets        (45,653)        (10,121) 
   Increase (decrease) 
    in accounts payable 
    and accrued expenses           (65,622)        (23,169) 
   Decrease (increase) 
    in due from 
    affiliates, net               (166,154)        291,435  
Total adjustments                 (400,775)      1,090,452 
   Net cash provided 
    by (used in) operating 
    activities                    (251,561)      1,446,672 
 
Cash flows from
 investing activities:  
  Investment in  
   hydroelectric  
   projects                            ---         (58,374)
  Loans to biomass
   projects                       (250,000)           ---
  Capital 
   expenditures                   (467,559)       (966,074) 
  Deferred due 
   diligence costs                 (23,346)        (63,272) 
Net cash used 
  in investing 
  activities                      (740,905)     (1,087,720) 
 
Cash flows from financing 
 activities: 
  Cash distributions 
   to shareholders                  (927,453)     (959,567)   
  Payments to reduce 
   long-term debt                   (142,782)     (129,762) 
  Distribution to 
   minority interest                (165,389)     (320,176) 
 Net cash used in
  financing activities            (1,235,624)   (1,409,505)  
Net (decrease) in cash and
 cash equivalents                 (2,228,090)   (1,050,553)    
Cash and cash 
 equivalents, 
 beginning of year                11,086,281    22,685,829 
Cash and cash 
 equivalents, 
 end of period                    $8,858,191   $21,635,276     
 
<FN>  
See Accompanying Notes to Financial Statements  
</TABLE>  
<PAGE>  
  
RIDGEWOOD ELECTRIC POWER TRUST IV  
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (unaudited)                 
  


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. Subsequent Event

In May 1998, the Trust sold the electric power generating equipment to 
Ridgewood Electric Power Trust III ("Trust III") for $681,984.  The Trust 
recorded a gain of $226,802 on the sale.  Trust III is also managed by 
the Managing Shareholder and is the minority owner of the Providence 
Project.  Trust III intends to use the equipment in an on-site 
cogeneration project under development that will be located in New 
Jersey.
 
<PAGE> 
  
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 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 financial statements include only the accounts of the Trust.  The 
Trust uses the equity method of accounting for its investments in the 
Maine Hydro Projects and the Indeck Maine Biomass Projects, which are 
owned 50% or less by the Trust.

Results of Operations

Quarter ended March 31, 1998 compared to quarter ended March 31, 1997.

In the first quarter of 1998, the Trust had total revenue of $1,796,000, 
which is comparable with total revenue of $1,774,000 in the same period 
in 1997. Cost of sales of $1,124,000 in the first quarter of 1998 were 
also comparable with the cost of sales of $1,188,000 in the first quarter 
of 1997.  

General and administrative expenses increased by $84,000 from $103,000 in 
the first quarter of 1997 to $187,000 in the same period of 1998 
primarily because none of Ridgewood Power Management Corporation's 
("RPMC") allocated costs were capitalized by the Providence Project in 
1998.  In 1997, a ninth engine was installed at the Providence Project 
and certain allocated administrative costs related to the installation 
were capitalized.  Other operating expenses in the first quarter of 1997 
and 1998 were comparable.

Interest income declined by $86,000 from $249,000 in the first quarter of 
1997 to $163,000 in the first quarter of 1997 due to lower average cash 
balances. Interest expense was reduced by $38,000 from $167,000 in the 
first quarter of 1997 to $129,000 in the first quarter of 1997 due to 
lower borrowings outstanding of the Providence project.  

Equity income from the Maine Hydro Projects increased $100,000 from 
$227,000 in the first quarter of 1997 to $327,000 in the same period in 
1998 due to the improved results of the Maine Hydro Projects which is 
primarily a result of higher production because of above-average river 
flows. The Trust recorded an equity loss of $268,000 in the first quarter 
of 1998 from the temporarily shut-down Maine Biomass Projects.  These 
projects were acquired in July 1997. 

Liquidity and Capital Resources

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.

The Trust anticipates that, during 1998, its cash flow from operations, 
unexpended offering proceeds and line of credit facility will be adequate 
to fund its obligations.
    
  
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:  May 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)