A dedicated IP is a unique address dedicated exclusively to your single Site5 hosting account. This is a feature that is required if you wish to set up a dedicated SSL certificate.
On a MultiSite-enabled plan, each subaccount can have their own dedicated IP address whereas on non-MultiSite plans, all domains share the dedicated IP.
A dedicated IP address costs $3/month in most locations, except for Australia which costs $6/month for each IP and Hong Kong & Singapore which cost $5/month for each IP. All dedicated IP address requests require ARIN justification, so if you have any questions, please contact [email protected] for clarification!