The voltage regulator can be changed out without alternator removal, but the access is tight. The upper coolant hose is in the way, of course, but most of the stuff can be moved to get some visibility.
On the 850, there are 2 wires for the AC compressor that are hard to see. The large bolt holding the red wire is fairly easy. The regulator is behind the black plastic cover, held on with phillips screws (?). The regulator is also held down with phillips screws.
Call a few electrical/alternator shops in your area and ask if they could replace the brushes. That would be the cheapest way to go. And, no, I do not know the size of the brushes. Perhaps they could determine that by the make/model of the alternator.
Over on Matthews volvo site, someone 'fixed' the large red wire at the battery end.
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My back feels better when I sit in a Volvo seat
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