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The regulator/brush assembly on your alternator is held in place by two phillips head screws. A new set of brushes is $3 or $4 and are quite easy to install (soldering involved). You don't mention how many miles are on the car or on the alternator currently in service.
I have never had to replace an alternator on any of our Volvos, but I have replaced a lot of brush sets. I always check the brushes out whenever I first purchase a car and everytime I replace a timing belt on one.
Electrical problems are not my strong suite and I am not sure a set of brushes will solve your problem. However, when comparing the cost of a new alternator versus checking on the condition (length) of the brushes the first option is a nobrainer for me.
Randy
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