8-K

                       SECURITIES AND EXCHANGE COMMISSION

                                WASHINGTON, D.C.

                                    FORM 8-K

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

        Date of report (Date of earliest event reported) January 14, 2004

                        RIDGEWOOD ELECTRIC POWER TRUST V
               (Exact name of registrant as specified in charter)

                Delaware           0-24143             22-3437351
             (State or other     (Commission         (IRS Employer
              jurisdiction of     File Number)        Identification No.)
              organization)

1314 King Street, Wilmington, Delaware      19801
- ---------------------------------------------------
(Address of principal executive offices)  (Zip Code)

Registrant's telephone number, including area code:  (302) 888-7444


Item 4.  Changes in Registrant's Certifying Accountant

(a)  Previous independent accountants

(i) On January  14,  2004,  Ridgewood  Electric  Power  Trust V  ("Registrant")
dismissed   PricewaterhouseCoopers  LLP  as  its  independent  accountants.  The
Registrant's management company,  Ridgewood Renewable Power LLC, participated in
and approved the decision to change independent accountants.

(ii) The reports of  PricewaterhouseCoopers  LLP on the financial statements for
the past two fiscal years  contained no adverse opinion or disclaimer of opinion
and were not qualified or modified as to uncertainty,  audit scope or accounting
principle.

(iii) In  connection  with its audits for the two most recent  fiscal  years and
through   January   14,   2004,   there   have   been  no   disagreements   with
PricewaterhouseCoopers  LLP on any matter of accounting principles or practices,
financial  statement   disclosure,   or  auditing  scope  or  procedure,   which
disagreements if not resolved to the satisfaction of PricewaterhouseCoopers  LLP
would  have  caused  them to make  reference  thereto  in  their  report  on the
financial statements for such years.

(iv) During the two most recent fiscal years and through January 14, 2004, there
have been no reportable events (as defined in Regulation S-K Item  304(a)(1)(v))
with the  exception  of the  deficiency  in the  Trust's  ability to process and
summarize  financial  information  of  certain  individual  projects  and equity
investees on a timely basis, which represents a material weakness.  The Trust is
addressing this deficiency with its subsidiaries and is currently in the process
of implementing new systems and reporting procedures.

(v) The Registrant has requested that PricewaterhouseCoopers LLP furnish it with
a letter  addressed  to the SEC stating  whether or not it agrees with the above
statements.  A copy of such letter,  dated January 14, 2004, is filed as Exhibit
16 to this Form 8-K.

(b) New independent accountants

(i)  The  Registrant   engaged  Perelson  Weiner  LLP  as  its  new  independent
accountants as of January 14, 2004.  During the two most recent fiscal years and
through  January 14, 2004, the Registrant has not consulted with Perelson Weiner
LLP regarding either (i) the application of accounting principles to a specified
transaction,  either  completed or proposed;  or the type of audit  opinion that
might be  rendered  on the  Registrant's  financial  statements,  and  neither a
written  report was provided to the  Registrant or oral advice was provided that
Perelson  Weiner  LLP  concluded  was  an  important  factor  considered  by the
Registrant  in reaching a decision as to the  accounting,  auditing or financial
reporting  issue;  or  (ii)  any  matter  that  was  either  the  subject  of  a
disagreement,  as that term is defined in Item  304(a)(1)(iv)  of Regulation S-K
and the related  instructions  to Item 304 of  Regulation  S-K, or a  reportable
event, as that term is defined in Item 304(a)(1)(v) of Regulation S-K."


Item 7. Financial Statements and Exhibits

    (c)  Exhibits

    Exhibit 16    Letter from PricewaterhouseCoopers LLP           Filed with
                  to the Securities and Exchange Commission        this document
                  dated January 14, 2004







SIGNATURE

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 hereunto duly authorized.

                         RIDGEWOOD ELECTRIC POWER TRUST V


Date:  January 20, 2004           By /s/ Christopher I. Naunton
                                         Christopher I. Naunton,
                                         Vice President and
                                         Chief Financial Officer

EX-16

  January 14, 2004


  Securities and Exchange Commission
  450 Fifth Street, N.W.
  Washington, D.C. 20549

  Commissioners:

We have read the  statements  made by Ridgewood  Power Trust V (copy  attached),
which we  understand  will be filed with the  Commission,  pursuant to Item 4 of
Form 8-K, as part of the  Company's  Form 8-K report dated  January 14, 2004. We
agree with the  statements  concerning  our Firm in such Form 8-K,  except  that
PricewaterhouseCoopers  LLP makes no comment whatsoever regarding any current or
future revisions or improvements to internal  control systems,  as noted in Item
(a)(iv).

  Very truly yours,

  /s/ PricewaterhouseCoopers LLP

  PricewaterhouseCoopers LLP
  Florham Park, NJ