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        September 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>  
  
                                                September 30,       December 31,  
                                                    1998                1997
<S>                                             <C>                  <C>  
Assets:

Cash and cash equivalents                       $  1,848,187         $ 11,086,281 
Accounts receivable, trade                         1,117,128              657,217 
Due from affiliates                                  199,306              164,536 
Other assets                                         452,451              383,810 


   Total current assets                            3,617,072           12,291,844 

Investments:

Investment in Maine Hydro Projects                 6,978,564            6,694,826 
Investment in and loans to 
Maine Biomass Projects                             6,433,360            6,617,862
Investment in Santee River Project                 4,469,650                  ---
Electric power equipment held for resale             455,182              455,182 
Deferred due diligence costs                             ---               27,159 

Plant and equipment:                              16,410,276           14,949,735 
     Less- Accumulated depreciation               (1,606,131)          (1,068,812)

Electric power sales contract                      8,338,040            8,338,040 
     Less- Accumulated amortization               (1,359,519)            (946,212)

Debt reserve fund                                    605,199              605,199 

   Total assets                                 $ 44,341,693         $ 47,964,823 


Liabilities and Shareholders' Equity:

Current maturities of long-term debt            $    636,221         $    592,193 
Accounts payable and accrued expenses                374,450              384,533 
Due to affiliates                                    414,125              658,253 
   Total current liabilities                       1,424,796            1,634,979 

Long-term debt, less current portion               4,365,245            4,848,067 
Minority interest in the Providence Project        6,285,526            6,458,416 

Commitments and contingencies

Shareholders' equity:

Shareholders' equity (476.8 shares 
issued and outstanding)                           32,348,532           35,078,194 
Managing shareholder's accumulated deficit           (82,406)             (54,833)
   Total shareholders' equity                     32,266,126           35,023,361 

   Total liabilities and shareholders' equity   $ 44,341,693         $ 47,964,823 
<FN>  
See Accompanying Notes to Financial Statements    
</TABLE>  
<PAGE>  

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

                                 Nine Months Ended            Quarter Ended
                            September 30,  September 30, September 30,  September 30, 
                                1998           1997            1998          1997
<S>                           <C>             <C>           <C>           <C>       
Net sales                     $  5,123,329    $ 4,850,561   $ 1,692,142   $ 1,605,288
Sublease income                    276,750        276,750        92,250        92,250 
  Total revenues                 5,400,079      5,127,311     1,784,392     1,697,538

Cost of sales                    3,618,948      3,434,865     1,208,045     1,066,018

Gross profit                     1,781,131      1,692,446       576,347       631,520

General and
administrative expenses            502,766        286,784       160,971        50,000
Management fee                     840,213        874,720       280,071       296,076
Project due diligence costs        230,809         15,722       211,640           382
Other expenses                      10,983         25,441         8,055         9,083 
   Total other 
   operating expenses            1,584,771      1,202,667       660,737       355,541 

Income 
(loss) from operations             196,360        489,779       (84,390)      275,979

Other income (expense):
Interest income                    329,150        755,734        52,896       204,809
Interest expense                  (377,844)      (436,794)     (122,438)     (135,600)
Income from 
Maine Hydro Projects               583,737        595,928      (103,803)     (177,771)
Loss from 
Maine Biomass Projects            (434,502)      (214,213)     (123,469)     (214,213)
Net other income                   100,541        700,655      (296,814)     (322,775)

Income (loss) 
before minority interest           296,901     1,190,434       (381,204)      (46,796)

Minority interest 
in the earnings 
of the Providence Project         (359,212)     (414,063)      (109,141)     (185,678)

Net income (loss)             $    (62,311)   $  776,371    $  (490,345)  $  (232,474)


<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 SEPTEMBER 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                              (2,667,974)        (26,950)   (2,694,924)

Net loss for the period                            (61,688)           (623)      (62,311)

Shareholders' equity, September 30, 1998     $  32,348,532    $    (82,406) $ 32,266,126

<FN>  

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


<CAPTION>  
  
                                                              Nine Months Ended 
                                                        September 30,      September 30,
                                                            1998               1997
                                                                  (unaudited)

<S>                                                     <C>                <C>                
Cash flows from operating activities:

Net income (loss)                                      $   (62,311)       $   776,371 

Adjustments to reconcile net income (loss)
to net cash flows from operating activities: 

Depreciation and amortization                              950,626            773,586 
Amortization of prepaid and accrued royalties- net             ---            144,535 
Minority interest in earnings 
of the Providence Project                                  359,212            414,063 
Income from unconsolidated Maine Hydro Projects           (583,737)          (595,928)
Loss from unconsolidated Maine Biomass Projects            434,502            214,213

Changes in assets and liabilities:

Increase in accounts receivable, trade                    (459,911)           (59,836) 
 (Increase) decrease in other assets                       (68,641)           402,549 
Decrease in accounts payable and accrued expenses          (10,083)          (161,159)
 (Decrease) increase in due to affiliates, net            (278,898)           191,738
   Total adjustments                                       343,070          1,323,761
Net cash provided by operating activities                  280,759          2,100,132 

Cash flows from investing activities:

Investment in Maine Hydro Projects                             ---            947,884
Investment in Santee River Project                      (4,469,650)               ---
Loans to Maine Biomass Projects                           (250,000)        (7,311,327)
Distributions from Maine Hydro Projects                    299,999                ---
Capital expenditures                                    (1,460,541)        (2,458,619)
Deferred due diligence costs                                27,159           (269,233)
Net cash used in investment activities                  (5,853,033)        (9,091,295)

  Cash flows from financing activities:

Cash distributions to shareholders                      (2,694,924)        (2,381,303)
Payments to reduce long-term debt                         (438,794)          (402,344)
Distribution to minority interest                         (532,102)          (690,754)
Net cash used in financing activities                   (3,665,820)        (3,474,401)

Net decrease in cash and cash equivalents               (9,238,094)       (10,465,564)

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

Cash and cash equivalents, end of period               $ 1,848,187        $12,220,265
<FN>  

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

 
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.  Investment in Santee River Rubber Project

In September 1998, the Trust and an affiliate, 
Ridgewood Electric Power Trust V ("Trust V"), 
purchased preferred membership interests in Santee 
River Rubber Company, LLC, a newly organized South 
Carolina limited liability company ("Santee River").  
Santee River is building a waste tire and rubber 
processing facility located near Charleston, South 
Carolina.  The Trust and Trust V purchased the interests 
through a limited liability company owned one-third by the 
Trust and two-thirds by Trust V.  The Trust's share of the 
purchase price was $4,469,650 and Trust V's share of the 
purchase price was $8,939,301.

Until the facility begins operations, Santee River 
will pay the Trust and Trust V interest at 12% per year 
on their investment.  After operations begin, the Trusts 
are entitled to receive all cash flow after payment of 
debt and other obligations until the Trusts receive a 
cumulative 20% return on investment.  Thereafter, the 
Trusts receive 25% of any remaining cash flow available 
for distribution.  All cash distributions and tax 
allocations received from Santee River are shared 
one-third by the Trust and two-thirds by Trust V.

The Trusts have the right to designate two of the five 
members of Santee River and have the further right 
to remove a third member and designate a successor in the 
event of certain defaults under Santee River's 
operating agreement.  The remaining equity interest is 
owned by a wholly-owned subsidiary of Environmental 
Processing Systems, Inc. of New York.

At the same time as the Trusts purchased their membership 
interests, Santee River borrowed $16,000,000 through 
tax exempt revenue bonds and another $16,000,000 through 
taxable convertible bonds.  It also obtained $4,500,000 of 
subordinated financing from the general contractor of the 
facility.

The project has been designed to receive and process waste 
tires and other waste rubber products and produce fine 
crumb rubber of various sizes.  The processing will 
include both ambient and cryogenic processing equipment 
using liquid nitrogen.  Santee River anticipates 
that the final product will be fine crumb rubber that 
can be used to manufacture new tires or to replace virgin 
rubber in many applications.

Santee River has entered into long-term agreements 
for the supply of its requirements for waste tires, 
electricity and liquid nitrogen.  Santee River 
has entered into short-term (ranging from one to three 
years) crumb rubber sales contracts for a portion of the 
facility's output with Goodyear Tire & Rubber Company, 
Continental - General Tire, Inc., British Tire & Rubber, 
Inc. and Recycled Solutions for Industry, Inc.  The 
agreements are contingent upon successful testing of the 
facility's output. 

The Trust's investment in Santee River will  be 
accounted for under the equity method of accounting.  The 
Santee River plant is in the construction stage.  
Accordingly, the project has no results of operations.

4.  Purchase of Pump Services Operations

On October 16, 1998, the Trust and Ridgewood Electric Power 
Trust II ("Trust II") entered into a Termination and Sale 
Agreement with H.E.P., Inc. ("H.E.P."),  the operator of the 
Trust and Trust II's California Pumping Projects.  Under the 
terms of the agreement, H.E.P. ceased operating the projects 
and transferred all project related assets to the Trust and 
Trust II.   The Trust and Trust II paid $94,160 and $105,840 
respectively, to H.E.P. as consideration under this agreement.  
Ridgewood Power Corporation is the managing shareholder of 
both the Trust and Trust II.  Ridgewood Power Management 
Corporation, an entity related to Ridgewood Power Corporation 
through common ownership, will operate the projects.

5.   Administrative Proceeding at the Providence Project

On August 6, 1998, Ridgewood/Providence Power Partners, L.P. 
("RPPP"), a limited partnership through which the Trust 
owns its limited partnership interest in the Providence 
Project, was notified by the Region I office of the U.S. 
environmental Protection Agency ("EPA") that the EPA is 
considering an administrative proceeding against RPPP to 
recover civil penalties of up to $190,000 for alleged 
violations of operational recordkeeping and training 
requirements at the Providence Project.  An administrative 
complaint was filed in September 1998 and RPPP has answered.  
RPPP 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.  RPPP 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.  The Trust is considering whether the cost of 
non-mandated environmental improvements at other sites 
may be eligible for offset against any final sanctions.  
The Trust does not anticipate that it will be liable 
for or will have to fund the costs of the proceeding, 
although those costs will reduce cash flow from the 
Project. 


ITEM 2.    MANAGEMENT'S DISCUSSION AND ANALYSIS
       OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS



Dollar amounts in this discussion are 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, the Maine Biomass Projects 
and Santee River LLC.

Results of Operations

In the first nine months of 1998, the Trust had total 
revenues of $5,400,000, which were slightly higher than 
the total revenue of $5,127,000 in the same period in 
1997. Revenues in the third quarter of 1998 of $1,784,000 
were also slightly higher than the 1997 third quarter 
revenues of $1,698,000.  Cost of sales of $3,619,000 in 
the first nine months of 1998 were also slightly higher 
than the cost of sales of $3,434,000 in the first nine 
months of 1997.   Cost of sales in the third quarter of 
1998 of $1,208,000 were also slightly higher than the 1997 
third quarter cost of sales of $1,066,000.  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 for the nine months 
ended June 30, 1998 were $216,000 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.  General 
and administrative expenses in the third quarter of 1998 
were $111,000 higher than in the same period in 1997 for 
the same reason.

Project due diligence costs in the third quarter of 1998 
were $212,000 higher than in the third quarter of 1997 
primarily due to the write off of costs associated with a 
rejected potential investment in a series of landfill gas 
fueled generation plants.  Project due diligence costs for 
the first nine months of 1998 increased by $215,000 for the 
same reason. 

Interest income declined from $205,000 in the third quarter 
of 1997 to $53,000 in the third quarter of 1998 and from 
$756,000 in the first nine months of 1997 to $329,000 in 
the first nine 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 $596,000 in the first nine months of 1997 to 

$584,000 in the same period in 1998 but improved from a loss 
of $178,000 in the third quarter of 1997 to a loss of $104,000 
in the same period in 1998.  These variations were caused by 
changes in project revenues resulting from precipitation 
fluctuations affecting the flow of water and were within the 
expected range of variations.  The Trust recorded a loss of 
$435,000 in the first nine months of 1998 and a loss of 
$123,000 in the third quarter of 1998 with respect to its 
equity in Maine Biomass Projects that was acquired in 
July 1997. 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 and 
third quarters of 1998.

Liquidity and Capital Resources

During the first nine months of 1998, the Trust's operating 
activities generated $281,000 of cash compared to $2,100,000 
during the same period in 1997, as the result of the factors 
discussed above.  Capital expenditures during the first nine 
months of 1998 decreased to $1,461,000 from $2,459,000 in 
the same period in 1997 because most of the necessary 
improvements at the Providence plant have been completed.  
Cash distributions to shareholders increased to $2,695,000 
in the first nine months of 1998 from $2,381,000 in the 
same period in 1997 due to an increase in the frequency of 
distributions from quarterly to monthly in July 1997.  The 
increase was lessened by a decrease in the distribution 
rate from $650 per share to $500 per share in August 1998.

In September 1998, the Trust and an affiliate, Ridgewood 
Electric Power Trust V ("Trust V"), purchased a preferred 
membership interest in Santee River Rubber Company, LLC, 
("Santee River").  Santee River is building a waste tire 
and rubber processing facility located near Charleston, 
South Carolina.  The Trust's share of the net purchase 
price was $4,469,650 and Trust V's share of the purchase 
price was $8,939,301.

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  

        b. Reports on Form 8-K.  The Trust filed a current
           Report on Form 8-K, dated August 14, 1998,
           Reporting at Item 2 the acquisition of an
           Interest in Santee River.
      
  
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:  November 18, 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)