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Dave;
The voltage regulator is integral with the alternator brushes. I replaced mine at 160k kms because I was concerned about brush wear. When I got them out it was obvious that they would have been good for at least another 100k kms butîI replaced them anyway. Most Volvo shops just replace the whole alternator for much more money. It is a miserable, knuckle skinning job. Push or remove all the easy stuff out of the way and then you can do it. The hardest job is taking the alternator cover off; three long screws which may be corroded. Use a good light and a large mirror. Be careful putting everything back together. The brushes are spring loaded. Be sure and disconnect the battery before starting.
Allthe best.
Robert A. Froebel
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