Have heard this problem before - the noise from the generator causes the DMM to read strangely. An analog meter will ignore the noise and work correctly. On to troubleshooting: First off, the OEM 9N charging system doesn't have a voltage regulator, just a cutout relay. The generator has an adjustment screw on the back to control the charge rate. One of the drawbacks of this system is that if you set the charge rate with the lights off, the battery will be discharged if you use the lights. If you set the charge rate with the lights on, the battery will be overcharged if you turn the lights off (not good for battery life). To figure out what's going on, first check the voltage at the battery with the tractor off. Then compare it to the battery voltage with the tractor on (it should be about a volt higher). If the system passes this test, your ammeter may be wired wrong -- you should check that out before trying to adjust the charge rate. If the battery voltage doesn't increase when the tractor is running, the cutout or generator is bad or miswired. To check this you can jump around the cutout and see if the battery voltage increases. If it doesn't, the generator isn't working. If it does, either the generator was depolarized or the cutout is bad. If the generator was depolarized, it is now fixed. To tell the difference, remove the wire and see if the charging system now behaves normally (turn the tractor off and restart to see if the generator charges without the wire). If the charging system won't charge without the wire, the cutout is either wired wrong or it is bad.
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