The alternator light came on briefly and went out. The dash lights would randomly come very bright when engine RPM's increase. Both low beam builds burned out. I measured 17.1 volts at the battery. I am assuming that the voltage regulator portion of the alternator has failed. Should I just replace the alternator or try to replace just the voltage regulator. A kick the correct direction would be appreciated.

That high voltage can cook the battery acid, I will just replace the voltage regulator first and see what happens next!

I have replaced the regulator without removing the alternator-- a fiddly job, but not that difficult. The regulator/brush packs are inexpensive in aftermarket. Here is my thread from another site that includes part numbers, vendors and lots of info about the job:

http://www.matthewsvolvosite.com/forums/viewtopic.php?t=62367

I would avoid using the car until you get the voltage issue sorted.

Good luck!

I ordered the voltage regulator and did the install. Much simpler than I thought. Thanks to all.

Thanks for your response I will just replace the voltage regulator.