I'm a new owner of old volvo - 1986 245 gas automatic.
I want to be a delighted Volvo booster, but

Voltmeter was reading toward 16 Volts when I first drove it, dropped to about 12 volt within a mile, and stayed there. Lots of idiot lights lit (now), incl alternator. I could read 11.5 Volts in the cigarette lighter, idling. I'm scared to drive it the 200 winter miles to home. (Ipicked it up at my daughter's in northeast Vermont. On New Year's Day! Everyone is closed)

Insulation on small alternator wire crumbles to my touch. I can run a new wire "to the bulkhead connector," but to which wire there? I know it should be small and red. Will I probably cause more grief touching wires at the bulkhead connector?

It holds a charge OK (sat 2 weeks, started instantly, drove and idled an hour. Battery reads 12.54 before I brought it in to charger on gneral principles)

Any advice or questions welcomed. I have stong electrical skills moderate mech. skill, limited tools; Saab shop down the road tomorrow. They worked on this car for previous owner.

Thanks, Dan local time 3:50 PM EST