If the idiot light is flashing slowly (like once a second or two), problem could be as simple as a slipping alternator drive belt. So check the belt tension before proceeding!
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ALSO.....it sounds like your voltmeter calibration is way off:
A fully charged battery at rest (no charge or load current) will show 12.6 volts MAXIMUM. Your reading of 14+ volts is way out of whack.
Similarly a reading of 18 volts while charging is too high - 14.5 to 15.0 is the maximum you should see.
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Today's Featured Article - A Lifetime of David Brown - by Samuel Kennedy. I was born in 1950 and reared on my family’s 100 acre farm. It was a fairly typical Northern Ireland farm where the main enterprise was dairying but some pigs, poultry and sheep were also kept. Potatoes were grown for sale and oats were grown to be used for cattle and horse feeding. Up to about 1958 the dairy cows were fed hay with some turnips and after that grass silage was the main winter feed. That same year was the last in which flax was grown on the farm. Flax provided the fibre which w
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